Hour Loop Correlations

HOUR Stock

USD 1.53 0.01 0.66%

The correlation of Hour Loop 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hour Loop Correlation With Market

Significant diversification

The correlation between Hour Loop and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hour Loop 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 Hour Loop. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

To learn how to invest in Hour Stock, please use our How to Invest in Hour Loop guide.

Moving together with Hour Stock

0.69	HD	Home Depot Sell-off Trend	Pair Corr
0.62	LOW	Lowes Companies	Pair Corr

Moving against Hour Stock

0.72	BGI	Birks Group	Pair Corr
0.57	CAL	Continental	Pair Corr
0.53	ZUMZ	Zumiez Inc	Pair Corr
0.45	LKQ	LKQ Corporation	Pair Corr
0.41	ASO	Academy Sports Outdoors Earnings Call Today	Pair Corr
0.39	HVT	Haverty Furniture	Pair Corr
0.37	DBI	Designer Brands Earnings Call This Week	Pair Corr
0.36	DIT	AMCON Distributing	Pair Corr
0.32	GPC	Genuine Parts	Pair Corr
0.59	NEGG	Newegg Commerce	Pair Corr
0.44	VC	Visteon Corp	Pair Corr
0.39	ARHS	Arhaus Inc	Pair Corr
0.38	ROST	Ross Stores	Pair Corr
0.37	JILL	JJill Inc Earnings Call This Week	Pair Corr
0.36	SCVL	Shoe Carnival	Pair Corr
0.32	GV	Visionary Education	Pair Corr

Related Correlations Analysis

	QRTEB	IPW	SECO	MOGU	QRTEP	QRTEA	PIK	LQDT	DIBS	EMCMF
QRTEB		0.66	-0.04	0.28	0.27	0.8	-0.2	-0.65	0.75	0.29	QRTEB
IPW	0.66		0.1	0.31	0.28	0.82	-0.07	-0.61	0.51	-0.03	IPW
SECO	-0.04	0.1		-0.41	-0.04	0.0	0.15	-0.13	0.29	0.05	SECO
MOGU	0.28	0.31	-0.41		0.36	0.27	-0.28	-0.01	-0.15	0.0	MOGU
QRTEP	0.27	0.28	-0.04	0.36		0.23	-0.18	0.29	0.01	0.47	QRTEP
QRTEA	0.8	0.82	0.0	0.27	0.23		-0.05	-0.75	0.67	0.0	QRTEA
PIK	-0.2	-0.07	0.15	-0.28	-0.18	-0.05		-0.08	-0.07	-0.15	PIK
LQDT	-0.65	-0.61	-0.13	-0.01	0.29	-0.75	-0.08		-0.7	0.15	LQDT
DIBS	0.75	0.51	0.29	-0.15	0.01	0.67	-0.07	-0.7		0.2	DIBS
EMCMF	0.29	-0.03	0.05	0.0	0.47	0.0	-0.15	0.15	0.2		EMCMF
	QRTEB	IPW	SECO	MOGU	QRTEP	QRTEA	PIK	LQDT	DIBS	EMCMF

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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

QRTEA	+ 0.82	IPW
QRTEA	+ 0.8	QRTEB
DIBS	+ 0.75	QRTEB
DIBS	+ 0.67	QRTEA
IPW	+ 0.66	QRTEB
DIBS	+ 0.51	IPW

High negative correlations

LQDT	- 0.75	QRTEA
DIBS	- 0.7	LQDT
LQDT	- 0.65	QRTEB
LQDT	- 0.61	IPW
MOGU	- 0.41	SECO
PIK	- 0.28	MOGU

Risk-Adjusted Indicators

There is a big difference between Hour Stock performing well and Hour Loop 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 Hour Loop's 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
QRTEB	3.37	(0.49)	0.00	(1.83)	0.00	0.00	6.47	(6.62)	23.12
IPW	6.89	(0.54)	0.00	(0.20)	0.00	0.00	16.41	(16.18)	67.04
SECO	5.16	0.19	0.03	0.28	5.49	(6.88)	14.29	(10.00)	45.51
MOGU	3.46	0.18	0.00	(0.25)	3.94	(4.36)	8.67	(6.48)	32.91
QRTEP	1.45	0.03	0.03	0.14	1.79	(1.57)	3.90	(3.23)	9.82
QRTEA	3.34	(0.72)	0.00	(0.21)	0.00	0.00	7.69	(6.98)	29.54
PIK	3.86	(0.01)	(0.01)	0.10	5.42	(3.93)	9.38	(9.35)	25.87
LQDT	1.21	0.06	0.07	0.16	1.32	(1.27)	2.19	(2.17)	9.34
DIBS	1.47	(0.41)	0.00	(0.30)	0.00	0.00	3.01	(3.99)	11.92
EMCMF	59.48	25.76	0.00	1.12	0.00	0.00	0.00	0.00	1,992

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