Sportsmans Warehouse Correlations

06S Stock

EUR 2.42 0.26 12.04%

The current 90-days correlation between Sportsmans Warehouse and Superior Plus Corp is 0.14 (i.e., Average diversification). The correlation of Sportsmans Warehouse 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.

Sportsmans Warehouse Correlation With Market

Average diversification

The correlation between Sportsmans Warehouse Holdings and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sportsmans Warehouse Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sportsmans Warehouse could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sportsmans Warehouse when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Sportsmans Warehouse - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Sportsmans Warehouse Holdings to buy it.

Moving together with Sportsmans Stock

0.64	SHM1	SHIMANO INC UNSPADR10	Pair Corr
0.68	SHM	Shimano	Pair Corr

Moving against Sportsmans Stock

0.73	PCE1	Booking Holdings	Pair Corr
0.72	RC8	Royal Caribbean Group	Pair Corr
0.72	E3X1	Expedia Group	Pair Corr
0.68	CVC1	Carnival plc Earnings Call This Week	Pair Corr
0.53	BAC	Verizon Communications	Pair Corr
0.49	CLV	Trip Group Limited	Pair Corr
0.41	GSR	Gossan Resources Earnings Call Today	Pair Corr
0.35	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI
8SP		0.7	-0.48	-0.73	-0.33	0.49	-0.18	-0.7	-0.71	-0.7	8SP
2DG	0.7		-0.55	-0.9	-0.26	0.79	-0.67	-0.93	-0.8	-0.91	2DG
NOH1	-0.48	-0.55		0.62	0.52	-0.35	0.28	0.61	0.42	0.52	NOH1
RS6	-0.73	-0.9	0.62		0.25	-0.77	0.62	0.95	0.74	0.93	RS6
XYTA	-0.33	-0.26	0.52	0.25		0.09	-0.17	0.32	0.26	0.12	XYTA
9K1	0.49	0.79	-0.35	-0.77	0.09		-0.83	-0.82	-0.6	-0.88	9K1
3RKU	-0.18	-0.67	0.28	0.62	-0.17	-0.83		0.67	0.38	0.76	3RKU
VUSA	-0.7	-0.93	0.61	0.95	0.32	-0.82	0.67		0.77	0.93	VUSA
MEL	-0.71	-0.8	0.42	0.74	0.26	-0.6	0.38	0.77		0.79	MEL
HEI	-0.7	-0.91	0.52	0.93	0.12	-0.88	0.76	0.93	0.79		HEI
	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI

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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

VUSA	+ 0.95	RS6
HEI	+ 0.93	RS6
HEI	+ 0.93	VUSA
9K1	+ 0.79	2DG
HEI	+ 0.79	MEL
MEL	+ 0.77	VUSA

High negative correlations

VUSA	- 0.93	2DG
HEI	- 0.91	2DG
RS6	- 0.9	2DG
HEI	- 0.88	9K1
3RKU	- 0.83	9K1
VUSA	- 0.82	9K1

Risk-Adjusted Indicators

There is a big difference between Sportsmans Stock performing well and Sportsmans Warehouse 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 Sportsmans Warehouse'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
8SP	2.07	(0.04)	0.00	(1.30)	0.00	0.00	3.36	(3.96)	20.22
2DG	4.93	(1.15)	0.00	(0.41)	0.00	0.00	9.09	(10.00)	52.42
NOH1	2.05	0.21	0.09	0.42	1.77	(2.78)	6.61	(3.25)	13.10
RS6	1.32	0.26	0.13	1.55	1.15	(1.51)	2.94	(2.03)	13.65
XYTA	11.55	4.09	0.13	(1.84)	8.11	(58.33)	33.33	(20.00)	233.33
9K1	1.64	(0.32)	0.00	2.31	0.00	0.00	2.94	(4.62)	14.80
3RKU	1.54	0.42	0.20	1.86	1.23	(2.15)	3.31	(2.40)	9.54
VUSA	0.54	0.13	0.13	0.25	0.47	(0.60)	1.19	(1.04)	6.02
MEL	1.08	0.17	0.06	1.42	1.07	(1.27)	2.95	(1.78)	7.09
HEI	1.20	0.42	0.35	0.60	0.55	(1.44)	3.29	(1.57)	8.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sportsmans Warehouse without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Sportsmans Warehouse Corporate Management

Elected by the shareholders, the Sportsmans Warehouse's board of directors comprises two types of representatives: Sportsmans Warehouse inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sportsmans. The board's role is to monitor Sportsmans Warehouse's management team and ensure that shareholders' interests are well served. Sportsmans Warehouse's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sportsmans Warehouse's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jeffrey White	CFO Sec	Profile
Jeremy Williams	Director Operations	Profile
Matthew French	VP Compliance	Profile
Larry Knight	VP Merchandising	Profile
Shane Miller	VP Operations	Profile

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