BJs Restaurants Correlations

BJRI Stock

USD 41.83 0.24 0.57%

The current 90-days correlation between BJs Restaurants and Sweetgreen is -0.28 (i.e., Very good diversification). The correlation of BJs Restaurants 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.

BJs Restaurants Correlation With Market

Very poor diversification

The correlation between BJs Restaurants and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BJs Restaurants and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with BJs Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BJs Restaurants. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more detail on how to invest in BJs Stock please use our How to Invest in BJs Restaurants guide.

Moving together with BJs Stock

0.64	WING	Wingstop	Pair Corr
0.83	EAT	Brinker International Earnings Call This Week	Pair Corr
0.63	ARCO	Arcos Dorados Holdings Sell-off Trend	Pair Corr
0.84	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.87	BMYMP	Bristol Myers Squibb	Pair Corr
0.64	TSM	Taiwan Semiconductor	Pair Corr
0.64	YASKY	Yaskawa Electric Corp	Pair Corr
0.89	DCI	Donaldson	Pair Corr
0.8	CNOB	ConnectOne Bancorp Earnings Call Tomorrow	Pair Corr
0.8	BKKLY	Bangkok Bank PCL	Pair Corr
0.85	MARUF	Marubeni Earnings Call This Week	Pair Corr
0.74	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.89	MRK	Merck Company Earnings Call This Week	Pair Corr
0.85	WMT	Walmart Common Stock	Pair Corr
0.67	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr

Moving against BJs Stock

0.86	MSFT	Microsoft Earnings Call Today	Pair Corr
0.8	PZZA	Papa Johns International	Pair Corr
0.67	HDL	SUPER HI INTERNATIONAL	Pair Corr
0.54	EDTK	Skillful Craftsman	Pair Corr
0.51	SGHC	SGHC Limited	Pair Corr
0.4	NVDA	NVIDIA Aggressive Push	Pair Corr
0.39	META	Meta Platforms Earnings Call Today	Pair Corr
0.32	AAPL	Apple Inc Earnings Call Tomorrow	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.68	T	ATT Inc Earnings Call Today	Pair Corr
0.63	GRLF	Green Leaf Innovations	Pair Corr
0.49	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SG	CBRL	LQDT	BLMN	AXL	KRUS	MYE	ACEL	HDL	BALY
SG		0.41	0.53	0.68	0.52	0.75	0.49	0.57	-0.42	-0.3	SG
CBRL	0.41		-0.34	0.75	0.34	0.65	-0.16	-0.13	0.0	0.24	CBRL
LQDT	0.53	-0.34		0.19	0.53	0.33	0.88	0.81	-0.5	-0.51	LQDT
BLMN	0.68	0.75	0.19		0.52	0.73	0.28	0.23	-0.15	-0.09	BLMN
AXL	0.52	0.34	0.53	0.52		0.8	0.75	0.61	-0.64	-0.3	AXL
KRUS	0.75	0.65	0.33	0.73	0.8		0.55	0.52	-0.6	-0.14	KRUS
MYE	0.49	-0.16	0.88	0.28	0.75	0.55		0.87	-0.69	-0.47	MYE
ACEL	0.57	-0.13	0.81	0.23	0.61	0.52	0.87		-0.77	-0.39	ACEL
HDL	-0.42	0.0	-0.5	-0.15	-0.64	-0.6	-0.69	-0.77		0.34	HDL
BALY	-0.3	0.24	-0.51	-0.09	-0.3	-0.14	-0.47	-0.39	0.34		BALY
	SG	CBRL	LQDT	BLMN	AXL	KRUS	MYE	ACEL	HDL	BALY

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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

MYE	+ 0.88	LQDT
ACEL	+ 0.87	MYE
ACEL	+ 0.81	LQDT
KRUS	+ 0.8	AXL
KRUS	+ 0.75	SG
BLMN	+ 0.75	CBRL

High negative correlations

HDL	- 0.77	ACEL
HDL	- 0.69	MYE
HDL	- 0.64	AXL
HDL	- 0.6	KRUS
BALY	- 0.51	LQDT
HDL	- 0.5	LQDT

Risk-Adjusted Indicators

There is a big difference between BJs Stock performing well and BJs Restaurants 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 BJs Restaurants' 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
SG	3.18	(0.19)	0.00	0.45	0.00	0.00	5.86	(6.98)	23.70
CBRL	2.86	(0.36)	0.00	(0.13)	0.00	0.00	7.62	(5.32)	13.71
LQDT	1.63	0.36	0.18	0.40	1.57	(1.78)	3.68	(2.98)	16.86
BLMN	3.06	(0.27)	0.00	(0.08)	0.00	0.00	5.22	(6.35)	22.59
AXL	2.39	0.31	0.14	0.24	2.39	(2.61)	6.86	(4.01)	13.56
KRUS	3.17	0.10	0.01	0.47	3.67	(3.62)	6.47	(5.43)	19.41
MYE	1.12	0.23	0.17	0.29	0.88	(1.31)	2.81	(1.75)	7.31
ACEL	1.25	0.03	0.03	0.10	1.32	(1.49)	2.73	(1.96)	7.30
HDL	1.37	(0.13)	0.00	(0.55)	0.00	0.00	2.75	(4.48)	9.69
BALY	3.21	0.19	0.04	0.50	3.66	(3.44)	7.22	(5.51)	23.67

BJs Restaurants Corporate Management

Kendra Miller	Sr. VP, General Counsel and Assistant Secretary	Profile
Heidi Rogers	Senior Marketing	Profile
Brian Krakower	Executive Officer	Profile
Scott Rodriguez	VP Culinary	Profile
Christopher Pinsak	Senior Operations	Profile
Thomas Kowalski	Senior Officer	Profile
Robert Deliema	Pres Foundation	Profile

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