Skechers USA Correlations

SKX Stock

USD 60.76 0.25 0.41%

The current 90-days correlation between Skechers USA and Weyco Group is 0.01 (i.e., Significant diversification). The correlation of Skechers USA 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.

Skechers USA Correlation With Market

Modest diversification

The correlation between Skechers USA and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skechers USA and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Skechers USA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy Skechers Stock please use our How to Invest in Skechers USA guide.

Moving together with Skechers Stock

0.68	DOOO	BRP Inc	Pair Corr
0.69	GOOS	Canada Goose Holdings	Pair Corr
0.73	JXJT	JX Luxventure Limited	Pair Corr
0.63	LEVI	Levi Strauss Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Skechers Stock

0.57	DOGZ	Dogness International	Pair Corr
0.44	VUZI	Vuzix Corp Cmn	Pair Corr
0.42	RL	Ralph Lauren Corp	Pair Corr
0.41	VOXX	VOXX International	Pair Corr
0.41	MSN	Emerson Radio	Pair Corr
0.33	KTB	Kontoor Brands	Pair Corr
0.56	SONO	Sonos Inc Earnings Call Tomorrow	Pair Corr
0.53	MYTE	MYT Netherlands Parent Earnings Call This Week	Pair Corr
0.52	HEAR	Turtle Beach Corp	Pair Corr
0.51	LULU	Lululemon Athletica	Pair Corr
0.47	REE	Ree Automotive Holding	Pair Corr
0.43	CHCI	Comstock Holding Com	Pair Corr
0.34	JD	JD Inc Adr Earnings Call This Week	Pair Corr

Related Correlations Analysis

	WEYS	VRA	CAL	DBI
WEYS		-0.12	-0.28	-0.32	WEYS
VRA	-0.12		0.7	0.72	VRA
CAL	-0.28	0.7		0.73	CAL
DBI	-0.32	0.72	0.73		DBI
	WEYS	VRA	CAL	DBI

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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

DBI	+ 0.73	CAL
DBI	+ 0.72	VRA
CAL	+ 0.7	VRA

High negative correlations

DBI	- 0.32	WEYS
CAL	- 0.28	WEYS
VRA	- 0.12	WEYS

Risk-Adjusted Indicators

There is a big difference between Skechers Stock performing well and Skechers USA 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 Skechers USA'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
WEYS	1.85	(0.08)	0.10	0.14	1.74	(2.32)	3.24	(2.25)	25.15
VRA	1.89	(0.37)	0.00	(0.11)	0.00	0.00	4.21	(4.45)	12.03
CAL	2.20	(0.46)	0.00	(0.10)	0.00	0.00	5.04	(3.79)	28.79
DBI	2.84	(0.59)	0.00	(0.31)	0.00	0.00	6.76	(7.74)	19.89

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