Wolverine World Correlations

WWW Stock

USD 21.80 0.92 4.41%

The current 90-days correlation between Wolverine World Wide and Caleres is -0.19 (i.e., Good diversification). The correlation of Wolverine World 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.

Wolverine World Correlation With Market

Good diversification

The correlation between Wolverine World Wide and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wolverine World Wide and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Wolverine Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wolverine World Wide. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Wolverine Stock

0.95	BC	Brunswick Earnings Call Today	Pair Corr
0.93	RL	Ralph Lauren Corp	Pair Corr
0.86	DOOO	BRP Inc	Pair Corr
0.69	BLD	Topbuild Corp	Pair Corr
0.89	FOSL	Fossil Group	Pair Corr
0.65	DFH	Dream Finders Homes Earnings Call This Week	Pair Corr
0.89	GIL	Gildan Activewear Earnings Call This Week	Pair Corr
0.94	HAS	Hasbro Inc	Pair Corr
0.66	HWH	HWH International	Pair Corr
0.92	MAT	Mattel Inc	Pair Corr
0.7	MHO	MI Homes Earnings Call This Week	Pair Corr
0.84	SKX	Skechers USA	Pair Corr
0.61	TPH	TRI Pointe Homes	Pair Corr
0.91	TPR	Tapestry	Pair Corr
0.65	UHG	United Homes Group	Pair Corr
0.87	GOOS	Canada Goose Holdings Earnings Call This Week	Pair Corr
0.87	JRSH	Jerash Holdings	Pair Corr
0.87	LEVI	Levi Strauss	Pair Corr
0.89	RCKY	Rocky Brands Earnings Call This Week	Pair Corr
0.83	SHOO	Steven Madden Earnings Call This Week	Pair Corr
0.83	SONO	Sonos Inc	Pair Corr
0.67	TMHC	Taylor Morn Home	Pair Corr

Moving against Wolverine Stock

0.87	PMNT	Perfect Moment	Pair Corr
0.56	WTO	UTime Limited	Pair Corr
0.53	NWTG	Newton Golf Symbol Change	Pair Corr
0.52	KBSX	FST Corp Ordinary	Pair Corr
0.31	GIII	G III Apparel	Pair Corr
0.54	GV	Visionary Education	Pair Corr
0.32	COLM	Columbia Sportswear	Pair Corr

Related Correlations Analysis

	WEYS	RCKY	VRA	CAL	SHOO	DBI
WEYS		0.8	0.58	-0.12	0.8	0.28	WEYS
RCKY	0.8		0.59	-0.35	0.82	0.25	RCKY
VRA	0.58	0.59		-0.21	0.61	0.13	VRA
CAL	-0.12	-0.35	-0.21		0.05	0.57	CAL
SHOO	0.8	0.82	0.61	0.05		0.48	SHOO
DBI	0.28	0.25	0.13	0.57	0.48		DBI
	WEYS	RCKY	VRA	CAL	SHOO	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

SHOO	+ 0.82	RCKY
RCKY	+ 0.8	WEYS
SHOO	+ 0.8	WEYS
SHOO	+ 0.61	VRA
VRA	+ 0.59	RCKY
VRA	+ 0.58	WEYS

High negative correlations

CAL	- 0.35	RCKY
CAL	- 0.21	VRA
CAL	- 0.12	WEYS

Risk-Adjusted Indicators

There is a big difference between Wolverine Stock performing well and Wolverine World 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 Wolverine World'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	1.75	(0.09)	0.01	0.14	2.02	(1.87)	4.23	(3.25)	10.35
RCKY	3.19	0.82	0.26	0.69	2.85	(3.84)	6.75	(2.49)	70.57
VRA	5.07	(0.13)	0.06	0.17	5.47	(5.97)	11.76	(7.78)	43.24
CAL	3.07	(0.37)	(0.01)	0.06	4.63	(3.05)	8.10	(6.17)	33.77
SHOO	2.71	0.03	0.13	0.22	2.25	(3.50)	6.31	(3.77)	23.15
DBI	4.13	(0.14)	0.06	0.16	5.49	(4.34)	13.45	(7.89)	33.87

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