Ready Capital Correlations

RCB Stock

USD 24.38 0.02 0.08%

The current 90-days correlation between Ready Capital and BJs Restaurants is 0.25 (i.e., Modest diversification). The correlation of Ready Capital 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.

Ready Capital Correlation With Market

Average diversification

The correlation between Ready Capital and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ready Capital and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ready Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For information on how to trade Ready Stock refer to our How to Trade Ready Stock guide.

Moving together with Ready Stock

0.72

Regional Management Corp Normal Trading

Pair Corr

Moving against Ready Stock

0.64	V	Visa Class A	Pair Corr
0.59	MA	Mastercard	Pair Corr
0.55	AC	Associated Capital	Pair Corr
0.42	LU	Lufax Holding	Pair Corr
0.41	QD	Qudian Inc	Pair Corr
0.39	DB	Deutsche Bank AG	Pair Corr
0.38	MS	Morgan Stanley	Pair Corr
0.37	CG	Carlyle Group Normal Trading	Pair Corr
0.36	DHIL	Diamond Hill Investment	Pair Corr
0.36	BN	Brookfield Corp	Pair Corr
0.33	AB	AllianceBernstein	Pair Corr
0.64	DMYY	dMY Squared Technology	Pair Corr
0.6	EMCGR	Embrace Change Acqui	Pair Corr
0.57	XP	Xp Inc	Pair Corr
0.45	VCTR	Victory Capital Holdings	Pair Corr
0.42	EMCGW	Embrace Change Acqui	Pair Corr
0.36	EARN	Ellington Residential	Pair Corr
0.34	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	XXMMF	BJRI	CPPKF	CCGY	BTBD	IIIN	ZIJMF	CAKE
XXMMF		-0.83	-0.28	0.0	-0.55	-0.59	-0.75	-0.84	XXMMF
BJRI	-0.83		0.22	0.0	0.66	0.83	0.85	0.9	BJRI
CPPKF	-0.28	0.22		0.0	0.13	0.42	0.41	0.52	CPPKF
CCGY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CCGY
BTBD	-0.55	0.66	0.13	0.0		0.37	0.84	0.69	BTBD
IIIN	-0.59	0.83	0.42	0.0	0.37		0.69	0.78	IIIN
ZIJMF	-0.75	0.85	0.41	0.0	0.84	0.69		0.92	ZIJMF
CAKE	-0.84	0.9	0.52	0.0	0.69	0.78	0.92		CAKE
	XXMMF	BJRI	CPPKF	CCGY	BTBD	IIIN	ZIJMF	CAKE

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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

CAKE	+ 0.92	ZIJMF
CAKE	+ 0.9	BJRI
ZIJMF	+ 0.85	BJRI
ZIJMF	+ 0.84	BTBD
IIIN	+ 0.83	BJRI
CAKE	+ 0.78	IIIN

High negative correlations

CAKE	- 0.84	XXMMF
BJRI	- 0.83	XXMMF
ZIJMF	- 0.75	XXMMF
IIIN	- 0.59	XXMMF
BTBD	- 0.55	XXMMF
CPPKF	- 0.28	XXMMF

Risk-Adjusted Indicators

There is a big difference between Ready Stock performing well and Ready Capital 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 Ready Capital'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
XXMMF	1.32	(0.05)	0.00	0.19	0.00	0.00	0.00	(4.00)	27.20
BJRI	2.04	0.38	0.14	0.44	2.20	(2.11)	4.71	(3.55)	17.68
CPPKF	2.24	0.40	0.09	2.75	2.21	(3.37)	6.90	(5.00)	12.82
CCGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BTBD	2.97	0.10	0.01	0.52	3.17	(4.40)	6.35	(6.57)	31.67
IIIN	1.75	0.56	0.30	0.82	1.35	(2.27)	3.58	(1.88)	17.07
ZIJMF	3.53	0.40	0.09	0.62	3.91	(4.02)	7.30	(7.35)	24.25
CAKE	1.86	0.38	0.13	0.46	2.40	(1.96)	4.50	(3.01)	13.90

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