Warby Parker Correlations

WRBY Stock

USD 16.36 2.04 11.09%

The current 90-days correlation between Warby Parker and BioLife Solutions is 0.3 (i.e., Weak diversification). The correlation of Warby Parker 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.

Warby Parker Correlation With Market

Very weak diversification

The correlation between Warby Parker and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Warby Parker and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Warby Parker. 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 information on how to buy Warby Stock please use our How to Invest in Warby Parker guide.

Moving together with Warby Stock

0.65	M	Macys Inc	Pair Corr
0.91	W	Wayfair	Pair Corr
0.78	DIBS	1StdibsCom	Pair Corr
0.75	AN	AutoNation	Pair Corr
0.84	BQ	Boqii Holding Limited	Pair Corr
0.81	FL	Foot Locker	Pair Corr
0.89	HD	Home Depot	Pair Corr
0.72	LE	Lands End	Pair Corr
0.93	RH	RH	Pair Corr
0.85	DLTH	Duluth Holdings	Pair Corr
0.92	DXLG	Destination XL Group	Pair Corr
0.85	VSCO	Victorias Secret	Pair Corr
0.88	EDUC	Educational Development	Pair Corr
0.89	WEYS	Weyco Group	Pair Corr
0.89	ETSY	Etsy Inc	Pair Corr
0.86	WINA	Winmark	Pair Corr
0.61	EVGO	Evgo Inc	Pair Corr
0.7	WOOF	Pet Acquisition LLC Trending	Pair Corr
0.8	FIVE	Five Below	Pair Corr
0.88	FLWS	1 800 FLOWERSCOM	Pair Corr
0.82	AAP	Advance Auto Parts	Pair Corr
0.68	ABG	Asbury Automotive	Pair Corr
0.84	AEO	American Eagle Outfitters	Pair Corr
0.73	AKA	AKA Brands Holding	Pair Corr
0.77	ANF	Abercrombie Fitch	Pair Corr
0.72	ASO	Academy Sports Outdoors	Pair Corr
0.95	FNKO	Funko Inc	Pair Corr
0.8	BBY	Best Buy	Pair Corr
0.66	BGI	Birks Group	Pair Corr
0.82	BKE	Buckle Inc	Pair Corr

Moving against Warby Stock

0.69	VIPS	Vipshop Holdings Sell-off Trend	Pair Corr
0.53	JD	JD Inc Adr	Pair Corr
0.38	YJ	Yunji Inc	Pair Corr
0.81	AZO	AutoZone	Pair Corr
0.62	EYE	National Vision Holdings	Pair Corr

Related Correlations Analysis

	ALC	COO	ANGO	ATR	BLFS	TFX	WST	RMD	ICUI	BDX
ALC		-0.17	-0.22	-0.36	-0.32	-0.56	-0.55	-0.1	-0.42	-0.01	ALC
COO	-0.17		0.57	0.58	0.57	0.76	0.74	0.84	0.76	0.58	COO
ANGO	-0.22	0.57		0.43	0.55	0.59	0.58	0.65	0.72	0.7	ANGO
ATR	-0.36	0.58	0.43		0.42	0.6	0.8	0.56	0.5	0.64	ATR
BLFS	-0.32	0.57	0.55	0.42		0.66	0.5	0.59	0.76	0.48	BLFS
TFX	-0.56	0.76	0.59	0.6	0.66		0.74	0.7	0.89	0.51	TFX
WST	-0.55	0.74	0.58	0.8	0.5	0.74		0.64	0.68	0.64	WST
RMD	-0.1	0.84	0.65	0.56	0.59	0.7	0.64		0.73	0.69	RMD
ICUI	-0.42	0.76	0.72	0.5	0.76	0.89	0.68	0.73		0.62	ICUI
BDX	-0.01	0.58	0.7	0.64	0.48	0.51	0.64	0.69	0.62		BDX
	ALC	COO	ANGO	ATR	BLFS	TFX	WST	RMD	ICUI	BDX

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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

ICUI	+ 0.89	TFX
RMD	+ 0.84	COO
WST	+ 0.8	ATR
TFX	+ 0.76	COO
ICUI	+ 0.76	COO
ICUI	+ 0.76	BLFS

High negative correlations

TFX	- 0.56	ALC
WST	- 0.55	ALC
ICUI	- 0.42	ALC
ATR	- 0.36	ALC
BLFS	- 0.32	ALC
ANGO	- 0.22	ALC

Risk-Adjusted Indicators

There is a big difference between Warby Stock performing well and Warby Parker 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 Warby Parker'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
ALC	1.22	0.15	0.11	0.12	1.31	(1.37)	2.48	(2.28)	8.35
COO	1.41	(0.15)	0.00	(0.21)	0.00	0.00	2.23	(3.65)	9.15
ANGO	3.05	0.47	0.15	0.35	2.87	(3.89)	6.44	(4.95)	46.09
ATR	0.92	(0.11)	0.00	0.48	0.00	0.00	1.71	(1.66)	10.88
BLFS	2.21	(0.12)	0.00	(0.17)	0.00	0.00	5.13	(3.90)	19.10
TFX	1.45	(0.30)	0.00	(0.61)	0.00	0.00	2.59	(2.85)	24.93
WST	2.06	(0.46)	0.00	5.54	0.00	0.00	3.56	(2.83)	40.71
RMD	1.28	(0.03)	0.00	(0.08)	0.00	0.00	2.02	(2.71)	11.67
ICUI	1.73	(0.09)	0.00	(0.11)	0.00	0.00	3.10	(3.61)	11.84
BDX	0.84	0.01	0.03	(0.02)	1.52	(0.85)	1.59	(1.60)	9.44

Warby Parker Corporate Management

Kim Nemser	SVP Officer	Profile
Sandy Gilsenan	SVP Officer	Profile
Tina Romani	VP Relations	Profile
Lori Krauss	Senior Officer	Profile
Steve Miller	VP CFO	Profile
Stephanie Hart	VP Operations	Profile

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