Spectrum Brands Correlations

SPB Stock

USD 62.52 3.79 5.72%

The current 90-days correlation between Spectrum Brands Holdings and Inter Parfums is 0.3 (i.e., Weak diversification). The correlation of Spectrum Brands 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.

Spectrum Brands Correlation With Market

Modest diversification

The correlation between Spectrum Brands Holdings and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectrum Brands Holdings 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 Spectrum Brands Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Spectrum Stock

0.67	EL	Estee Lauder Companies	Pair Corr
0.71	UG	United Guardian	Pair Corr
0.63	EWCZ	European Wax Center	Pair Corr
0.86	XAGE	Longevity Health Hol Symbol Change	Pair Corr
0.8	DSY	Big Tree Cloud	Pair Corr
0.85	ELF	ELF Beauty Sell-off Trend	Pair Corr
0.92	ENR	Energizer Holdings	Pair Corr
0.72	EPC	Edgewell Personal Care	Pair Corr
0.86	FTLF	FitLife Brands, Common	Pair Corr
0.84	MED	MEDIFAST INC	Pair Corr
0.87	NWL	Newell Brands	Pair Corr
0.95	HELE	Helen of Troy	Pair Corr
0.88	HNST	Honest Company	Pair Corr
0.71	IPAR	Inter Parfums	Pair Corr
0.83	LFVN	Lifevantage	Pair Corr
0.75	MTEX	Mannatech Incorporated	Pair Corr
0.87	NAII	Natural Alternatives	Pair Corr
0.77	NATR	Natures Sunshine Products	Pair Corr
0.81	OLPX	Olaplex Holdings	Pair Corr

Moving against Spectrum Stock

0.77	YSG	Yatsen Holding	Pair Corr
0.72	PHH	Park Ha Biological	Pair Corr
0.7	ODC	Oil Dri	Pair Corr
0.63	HLF	Herbalife Nutrition	Pair Corr
0.57	UL	Unilever PLC ADR	Pair Corr
0.57	WDFC	WD 40 Company Earnings Call This Week	Pair Corr
0.57	KMB	Kimberly Clark	Pair Corr
0.51	CL	Colgate Palmolive	Pair Corr
0.45	CENTA	Central Garden Pet	Pair Corr
0.34	PG	Procter Gamble Downward Rally	Pair Corr
0.34	NUS	Nu Skin Enterprises	Pair Corr
0.85	BJ	BJs Wholesale Club	Pair Corr
0.84	DG	Dollar General	Pair Corr
0.84	KR	Kroger Company	Pair Corr
0.72	KVUE	Kenvue Inc	Pair Corr
0.69	NHTC	Natural Health Trend	Pair Corr
0.63	MO	Altria Group	Pair Corr
0.57	TR	Tootsie Roll Industries	Pair Corr
0.48	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	EWCZ	IPAR	MTEX	NUS	EPC	HELE
EWCZ		0.87	0.53	-0.38	0.31	0.56	EWCZ
IPAR	0.87		0.51	-0.11	0.49	0.68	IPAR
MTEX	0.53	0.51		-0.26	0.44	0.63	MTEX
NUS	-0.38	-0.11	-0.26		-0.15	-0.32	NUS
EPC	0.31	0.49	0.44	-0.15		0.77	EPC
HELE	0.56	0.68	0.63	-0.32	0.77		HELE
	EWCZ	IPAR	MTEX	NUS	EPC	HELE

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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

IPAR	+ 0.87	EWCZ
HELE	+ 0.77	EPC
HELE	+ 0.68	IPAR
HELE	+ 0.63	MTEX
HELE	+ 0.56	EWCZ
MTEX	+ 0.53	EWCZ

High negative correlations

NUS	- 0.38	EWCZ
HELE	- 0.32	NUS
NUS	- 0.26	MTEX
EPC	- 0.15	NUS
NUS	- 0.11	IPAR

Risk-Adjusted Indicators

There is a big difference between Spectrum Stock performing well and Spectrum Brands 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 Spectrum Brands' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EWCZ	3.08	(0.55)	(0.52)	5.56	(7.62)	20.93
IPAR	1.75	(0.15)	(0.31)	2.91	(3.48)	10.74
MTEX	2.63	(0.94)	(17.39)	3.96	(6.16)	18.59
NUS	2.85	0.11	(0.04)	7.77	(5.52)	27.42
EPC	1.47	(0.03)	(0.24)	2.10	(2.93)	11.61
HELE	2.04	(0.30)	(0.51)	3.40	(3.95)	18.21

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