Hanesbrands Correlations

HBI Stock

USD 8.53 0.34 4.15%

The current 90-days correlation between Hanesbrands and Ralph Lauren Corp is 0.53 (i.e., Very weak diversification). The correlation of Hanesbrands is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Hanesbrands Correlation With Market

Average diversification

The correlation between Hanesbrands and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hanesbrands and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hanesbrands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more detail on how to invest in Hanesbrands Stock please use our How to Invest in Hanesbrands guide.

Moving together with Hanesbrands Stock

0.89	AS	Amer Sports, Upward Rally	Pair Corr
0.89	RL	Ralph Lauren Corp	Pair Corr
0.76	UA	Under Armour C	Pair Corr
0.63	DOGZ	Dogness International	Pair Corr
0.72	VSTO	Vista Outdoor	Pair Corr
0.82	GIL	Gildan Activewear	Pair Corr
0.68	JRSH	Jerash Holdings	Pair Corr
0.77	LULU	Lululemon Athletica	Pair Corr

Moving against Hanesbrands Stock

0.89	WLDS	Wearable Devices	Pair Corr
0.8	FEBO	Fenbo Holdings	Pair Corr
0.77	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.74	CRI	Carters	Pair Corr
0.71	EZGO	EZGO Technologies	Pair Corr
0.68	DTC	Solo Brands	Pair Corr
0.67	VMAR	Vision Marine Techno Fiscal Year End 25th of November 2024	Pair Corr
0.65	DHI	DR Horton	Pair Corr
0.61	HOV	Hovnanian Enterprises	Pair Corr
0.54	CCS	Century Communities	Pair Corr
0.34	HAS	Hasbro Inc	Pair Corr
0.81	DIBS	1StdibsCom	Pair Corr
0.68	QS	Quantumscape Corp	Pair Corr
0.63	FL	Foot Locker Earnings Call This Week	Pair Corr
0.48	CTHR	Charles Colvard	Pair Corr
0.44	GV	Visionary Education	Pair Corr
0.41	BRLT	Brilliant Earth Group	Pair Corr
0.38	MOV	Movado Group Earnings Call This Week	Pair Corr
0.38	WTO	UTime Limited	Pair Corr

Related Correlations Analysis

	RL	LEVI	UA	PVH	UAA	VFC	COLM	KTB	GIII
RL		-0.5	0.74	0.32	0.83	0.67	0.05	0.89	0.53	RL
LEVI	-0.5		-0.38	-0.28	-0.47	-0.24	0.11	-0.51	-0.05	LEVI
UA	0.74	-0.38		0.67	0.98	0.48	0.31	0.74	0.08	UA
PVH	0.32	-0.28	0.67		0.62	0.38	0.57	0.46	-0.19	PVH
UAA	0.83	-0.47	0.98	0.62		0.52	0.28	0.82	0.2	UAA
VFC	0.67	-0.24	0.48	0.38	0.52		0.23	0.65	0.31	VFC
COLM	0.05	0.11	0.31	0.57	0.28	0.23		0.35	0.04	COLM
KTB	0.89	-0.51	0.74	0.46	0.82	0.65	0.35		0.38	KTB
GIII	0.53	-0.05	0.08	-0.19	0.2	0.31	0.04	0.38		GIII
	RL	LEVI	UA	PVH	UAA	VFC	COLM	KTB	GIII

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UAA	+ 0.98	UA
KTB	+ 0.89	RL
UAA	+ 0.83	RL
KTB	+ 0.82	UAA
UA	+ 0.74	RL
KTB	+ 0.74	UA

High negative correlations

KTB	- 0.51	LEVI
LEVI	- 0.5	RL
UAA	- 0.47	LEVI
UA	- 0.38	LEVI
PVH	- 0.28	LEVI
VFC	- 0.24	LEVI

Risk-Adjusted Indicators

There is a big difference between Hanesbrands Stock performing well and Hanesbrands Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Hanesbrands' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RL	1.23	0.22	0.15	0.35	1.19	(1.41)	2.75	(2.00)	10.48
LEVI	1.37	(0.35)	0.00	(0.35)	0.00	0.00	2.26	(2.83)	11.26
UA	2.55	0.10	0.01	0.39	3.12	(3.51)	5.76	(4.56)	35.20
PVH	1.38	(0.15)	0.00	(0.04)	0.00	0.00	3.13	(3.16)	10.15
UAA	2.81	0.20	0.04	0.62	3.28	(3.82)	6.63	(4.57)	40.23
VFC	2.64	0.21	0.04	0.90	2.94	(2.97)	4.62	(4.77)	33.97
COLM	1.16	(0.06)	(0.07)	(0.02)	1.59	(1.10)	2.16	(2.36)	7.71
KTB	1.41	0.27	0.12	0.63	1.44	(1.55)	3.18	(2.42)	16.49
GIII	2.00	0.14	0.05	0.31	1.90	(2.57)	3.72	(4.17)	26.82

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC