Continental Correlations

Stocks . USA . 
Stock . Caleres
CAL Stock  USD 19.22  0.14  0.72%   
The current 90-days correlation between Continental and Wolverine World Wide is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Continental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caleres moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Continental Correlation With Market

Significant diversification

The correlation between Caleres and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caleres and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caleres. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Continental Stock

  0.75DIBS 1StdibsComPairCorr
  0.86FL Foot LockerPairCorr
  0.91LE Lands EndPairCorr
  0.9DLTH Duluth HoldingsPairCorr
  0.84EDUC Educational DevelopmentPairCorr
  0.77EVGO Evgo IncPairCorr
  0.63WOOF Pet Acquisition LLCPairCorr
  0.8AEO American Eagle OutfittersPairCorr
  0.71AKA AKA Brands HoldingPairCorr
  0.75BBY Best BuyPairCorr
  0.65BGI Birks Group Buyout TrendPairCorr

Moving against Continental Stock

  0.82RH RHPairCorr
  0.55EBAY eBay IncPairCorr
  0.48AN AutoNationPairCorr
  0.41BQ Boqii Holding Limited TrendingPairCorr
  0.4VSCO Victorias SecretPairCorr
  0.32W WayfairPairCorr
  0.79FNKO Funko IncPairCorr
  0.76AAP Advance Auto PartsPairCorr
  0.73ASO Academy Sports OutdoorsPairCorr
  0.69BBW Build A BearPairCorr
  0.68AZO AutoZonePairCorr
  0.48BKE Buckle IncPairCorr
  0.43FIVE Five BelowPairCorr
  0.86DKS Dicks Sporting GoodsPairCorr
  0.82GCO GenescoPairCorr

Related Correlations Analysis

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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
+ 0.79
VRA
WEYS
+ 0.47
WWW
DBI
+ 0.43
RCKY
DBI
+ 0.18
WWW
SHOO
+ 0.13
RCKY
  
High negative correlations   
SHOO
- 0.52
WWW
RCKY
- 0.42
WWW
WEYS
- 0.35
RCKY
DBI
- 0.33
WEYS
DBI
- 0.3
VRA
WWW
- 0.3
VRA

Risk-Adjusted Indicators

There is a big difference between Continental Stock performing well and Continental 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 Continental'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.

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