Correlation Between Acushnet Holdings and Boot Barn

Can any of the company-specific risk be diversified away by investing in both Acushnet Holdings and Boot Barn at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Acushnet Holdings and Boot Barn into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Acushnet Holdings Corp and Boot Barn Holdings, you can compare the effects of market volatilities on Acushnet Holdings and Boot Barn and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Acushnet Holdings with a short position of Boot Barn. Check out your portfolio center. Please also check ongoing floating volatility patterns of Acushnet Holdings and Boot Barn.

Diversification Opportunities for Acushnet Holdings and Boot Barn

0.17

Correlation Coefficient

Acushnet Holdings  Boot Barn

Average diversification

The 3 months correlation between Acushnet and Boot is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Acushnet Holdings Corp and Boot Barn Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boot Barn Holdings and Acushnet Holdings is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Acushnet Holdings Corp are associated (or correlated) with Boot Barn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boot Barn Holdings has no effect on the direction of Acushnet Holdings i.e., Acushnet Holdings and Boot Barn go up and down completely randomly.

Pair Corralation between Acushnet Holdings and Boot Barn

Given the investment horizon of 90 days Acushnet Holdings Corp is expected to under-perform the Boot Barn. But the stock apears to be less risky and, when comparing its historical volatility, Acushnet Holdings Corp is 1.86 times less risky than Boot Barn. The stock trades about -0.05 of its potential returns per unit of risk. The Boot Barn Holdings is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  16,336  in Boot Barn Holdings on August 2, 2025 and sell it today you would earn a total of  2,215  from holding Boot Barn Holdings or generate 13.56% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Acushnet Holdings Corp  vs.  Boot Barn Holdings

Acushnet Holdings Corp

Risk-Adjusted Performance

Weakest

Over the last 90 days Acushnet Holdings Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable essential indicators, Acushnet Holdings is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Boot Barn Holdings

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Boot Barn Holdings are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unfluctuating basic indicators, Boot Barn may actually be approaching a critical reversion point that can send shares even higher in December 2025.

Pair Trading with Acushnet Holdings and Boot Barn

The main advantage of trading using opposite Acushnet Holdings and Boot Barn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Acushnet Holdings position performs unexpectedly, Boot Barn can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Boot Barn will offset losses from the drop in Boot Barn's long position.

The idea behind Acushnet Holdings Corp and Boot Barn Holdings pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.