Haverty Furniture Correlations

25F Stock

EUR 22.40 0.20 0.90%

The current 90-days correlation between Haverty Furniture and Lowes Companies is 0.08 (i.e., Significant diversification). The correlation of Haverty Furniture 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.

Haverty Furniture Correlation With Market

Weak diversification

The correlation between Haverty Furniture Companies and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haverty Furniture Companies and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Haverty Furniture could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Haverty Furniture 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 Haverty Furniture - 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 Haverty Furniture Companies to buy it.

Moving against Haverty Stock

0.71	ADH2	Air Canada	Pair Corr
0.48	2TS	Tile Shop Holdings	Pair Corr
0.37	LWE	Lowes Companies	Pair Corr

Related Correlations Analysis

	LWE	BYY	8SP	39O1	INVN	IUI1	INL	RS6	XYTA
LWE		-0.12	-0.56	0.4	0.77	0.67	0.78	0.75	0.71	LWE
BYY	-0.12		-0.39	-0.45	0.12	0.22	0.23	0.19	-0.24	BYY
8SP	-0.56	-0.39		0.29	-0.77	-0.87	-0.73	-0.81	-0.42	8SP
39O1	0.4	-0.45	0.29		-0.01	-0.22	0.1	-0.07	0.43	39O1
INVN	0.77	0.12	-0.77	-0.01		0.89	0.78	0.9	0.44	INVN
IUI1	0.67	0.22	-0.87	-0.22	0.89		0.76	0.92	0.38	IUI1
INL	0.78	0.23	-0.73	0.1	0.78	0.76		0.83	0.54	INL
RS6	0.75	0.19	-0.81	-0.07	0.9	0.92	0.83		0.42	RS6
XYTA	0.71	-0.24	-0.42	0.43	0.44	0.38	0.54	0.42		XYTA
	LWE	BYY	8SP	39O1	INVN	IUI1	INL	RS6	XYTA

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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

RS6	+ 0.92	IUI1
RS6	+ 0.9	INVN
IUI1	+ 0.89	INVN
RS6	+ 0.83	INL
INL	+ 0.78	LWE
INL	+ 0.78	INVN

High negative correlations

IUI1	- 0.87	8SP
RS6	- 0.81	8SP
INVN	- 0.77	8SP
INL	- 0.73	8SP
8SP	- 0.56	LWE
39O1	- 0.45	BYY

Risk-Adjusted Indicators

There is a big difference between Haverty Stock performing well and Haverty Furniture 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 Haverty Furniture'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
LWE	1.12	0.19	0.05	1.90	1.32	(1.20)	3.30	(2.81)	7.52
BYY	1.87	0.00	(0.05)	0.10	2.09	(2.39)	4.12	(3.96)	18.88
8SP	2.08	(0.07)	0.00	0.44	0.00	0.00	3.36	(4.74)	20.22
39O1	3.53	0.07	(0.01)	2.06	3.53	(4.94)	8.41	(5.47)	24.06
INVN	2.10	0.09	0.04	0.21	2.41	(2.48)	5.59	(4.25)	14.01
IUI1	1.24	0.13	0.07	0.31	1.10	(1.46)	3.28	(1.96)	10.30
INL	2.44	0.18	0.07	0.31	2.38	(3.09)	6.80	(3.69)	13.89
RS6	1.36	0.30	0.12	1.81	1.34	(1.60)	2.94	(2.17)	13.51
XYTA	14.46	3.61	0.10	1.86	12.44	(63.54)	50.00	(33.33)	233.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Haverty Furniture 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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