Hanesbrands Correlations

HBI Stock

USD 8.00 0.38 4.53%

The current 90-days correlation between Hanesbrands and Ralph Lauren Corp is 0.67 (i.e., Poor 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

Modest diversification

The correlation between Hanesbrands and DJI is 0.22 (i.e., Modest 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

0.83	BC	Brunswick	Pair Corr
0.94	RL	Ralph Lauren Corp	Pair Corr
0.68	UA	Under Armour C	Pair Corr
0.7	DOGZ	Dogness International	Pair Corr
0.63	VNCE	Vince Holding Corp	Pair Corr
0.62	HWH	HWH International Symbol Change	Pair Corr
0.92	KTB	Kontoor Brands	Pair Corr
0.65	MHO	MI Homes	Pair Corr
0.76	MPX	Marine Products Fiscal Year End 23rd of January 2025	Pair Corr
0.72	MSN	Emerson Radio Earnings Call This Week	Pair Corr
0.85	REE	Ree Automotive Holding	Pair Corr
0.73	SKY	Skyline	Pair Corr
0.75	LULU	Lululemon Athletica	Pair Corr
0.69	MYTE	MYT Netherlands Parent	Pair Corr
0.68	SHOO	Steven Madden	Pair Corr

Moving against Hanesbrands Stock

0.72	DOOO	BRP Inc	Pair Corr
0.47	VRA	Vera Bradley	Pair Corr
0.4	CRI	Carters	Pair Corr
0.79	LIVE	Live Ventures Fiscal Year End 18th of December 2024	Pair Corr
0.63	LAKE	Lakeland Industries	Pair Corr
0.58	WTO	UTime Limited	Pair Corr
0.58	VC	Visteon Corp	Pair Corr
0.38	PMNT	Perfect Moment	Pair Corr
0.31	GV	Visionary Education	Pair Corr

Related Correlations Analysis

	RL	LEVI	UA	PVH	UAA	VFC	COLM	KTB	GIII
RL		-0.15	0.61	0.15	0.74	0.73	0.03	0.93	0.74	RL
LEVI	-0.15		-0.12	-0.1	-0.19	-0.09	0.34	-0.05	0.08	LEVI
UA	0.61	-0.12		0.62	0.98	0.43	0.22	0.62	0.14	UA
PVH	0.15	-0.1	0.62		0.54	0.27	0.48	0.28	-0.18	PVH
UAA	0.74	-0.19	0.98	0.54		0.52	0.18	0.73	0.29	UAA
VFC	0.73	-0.09	0.43	0.27	0.52		0.22	0.78	0.48	VFC
COLM	0.03	0.34	0.22	0.48	0.18	0.22		0.29	0.11	COLM
KTB	0.93	-0.05	0.62	0.28	0.73	0.78	0.29		0.67	KTB
GIII	0.74	0.08	0.14	-0.18	0.29	0.48	0.11	0.67		GIII
	RL	LEVI	UA	PVH	UAA	VFC	COLM	KTB	GIII

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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	+ 0.93	RL
KTB	+ 0.78	VFC
UAA	+ 0.74	RL
GIII	+ 0.74	RL
VFC	+ 0.73	RL

High negative correlations

UAA	- 0.19	LEVI
GIII	- 0.18	PVH
LEVI	- 0.15	RL
UA	- 0.12	LEVI
PVH	- 0.1	LEVI
VFC	- 0.09	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	1.25	0.35	0.27	0.52	0.77	(1.52)	3.29	(1.97)	6.74
LEVI	1.48	(0.19)	0.00	(0.05)	0.00	0.00	2.75	(2.83)	11.83
UA	2.63	0.25	0.05	0.66	3.07	(3.54)	5.76	(4.56)	15.37
PVH	1.38	(0.08)	(0.02)	0.10	1.80	(1.55)	3.18	(3.16)	10.33
UAA	2.89	0.36	0.08	0.87	3.16	(3.83)	6.63	(4.57)	15.35
VFC	2.85	0.28	0.05	0.78	3.10	(3.11)	7.27	(5.48)	33.97
COLM	1.14	(0.03)	(0.08)	0.09	1.53	(1.09)	2.16	(2.36)	6.89
KTB	1.49	0.28	0.13	0.61	1.37	(1.67)	3.25	(2.42)	16.49
GIII	1.97	0.26	0.10	0.54	1.77	(2.45)	3.72	(4.17)	26.82

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