Carnival Correlations

CCL Stock

USD 31.55 0.99 3.04%

The current 90-days correlation between Carnival and eBay Inc is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carnival moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carnival moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carnival Correlation With Market

Very poor diversification

The correlation between Carnival and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carnival and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Carnival Stock

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

For more information on how to buy Carnival Stock please use our How to buy in Carnival Stock guide.

Moving together with Carnival Stock

0.67	WH	Wyndham Hotels Resorts	Pair Corr
0.73	TUI1	TUI AG	Pair Corr
0.81	LI4	Lindblad Expeditions Earnings Call This Week	Pair Corr
0.64	HLO	Helloworld Travel Earnings Call This Week	Pair Corr
0.76	CHH	Choice Hotels Intern Earnings Call Today	Pair Corr
0.94	CUK	Carnival Plc ADS	Pair Corr
0.81	HGV	Hilton Grand Vacations Earnings Call This Week	Pair Corr
0.85	HLT	Hilton Worldwide Holdings	Pair Corr
0.82	IHG	InterContinental Hotels	Pair Corr
0.82	MAR	Marriott International	Pair Corr
0.88	RCL	Royal Caribbean Cruises	Pair Corr
0.76	TNL	Travel Leisure	Pair Corr
0.88	VIK	Viking Holdings	Pair Corr
0.68	ACR1	ACCOR SPADR NEW	Pair Corr
0.61	FLT	Flight Centre Travel Earnings Call This Week	Pair Corr
0.75	MLHIN	Socit Htelire et	Pair Corr

Moving against Carnival Stock

0.73	GHG	GreenTree Hospitality	Pair Corr
0.68	ALVDM	Voyageurs du Monde	Pair Corr
0.77	MLAZR	Azur Selection SA	Pair Corr
0.62	T6A	TripAdvisor	Pair Corr
0.37	648	KYORITSU MAINTEN	Pair Corr

Related Correlations Analysis

	EBAY	YUM	DHI	CPRT	LVS	LEN	CMG	FLUT	TCOM
EBAY		0.29	-0.01	0.41	-0.53	-0.36	0.75	-0.08	-0.14	EBAY
YUM	0.29		0.49	-0.05	-0.7	-0.07	0.65	-0.67	-0.67	YUM
DHI	-0.01	0.49		-0.37	-0.3	0.59	0.34	-0.45	-0.55	DHI
CPRT	0.41	-0.05	-0.37		-0.2	-0.06	0.01	-0.04	-0.05	CPRT
LVS	-0.53	-0.7	-0.3	-0.2		0.16	-0.6	0.77	0.72	LVS
LEN	-0.36	-0.07	0.59	-0.06	0.16		-0.42	-0.13	-0.13	LEN
CMG	0.75	0.65	0.34	0.01	-0.6	-0.42		-0.28	-0.37	CMG
FLUT	-0.08	-0.67	-0.45	-0.04	0.77	-0.13	-0.28		0.89	FLUT
TCOM	-0.14	-0.67	-0.55	-0.05	0.72	-0.13	-0.37	0.89		TCOM
	EBAY	YUM	DHI	CPRT	LVS	LEN	CMG	FLUT	TCOM

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

TCOM	+ 0.89	FLUT
FLUT	+ 0.77	LVS
CMG	+ 0.75	EBAY
TCOM	+ 0.72	LVS
CMG	+ 0.65	YUM
LEN	+ 0.59	DHI

High negative correlations

LVS	- 0.7	YUM
TCOM	- 0.67	YUM
FLUT	- 0.67	YUM
CMG	- 0.6	LVS
TCOM	- 0.55	DHI
LVS	- 0.53	EBAY

Risk-Adjusted Indicators

There is a big difference between Carnival Stock performing well and Carnival 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 Carnival'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
EBAY	1.48	(0.12)	0.00	(0.09)	0.00	0.00	2.81	(3.83)	11.00
YUM	0.98	0.12	0.08	0.26	1.14	(1.12)	2.49	(1.79)	7.35
DHI	1.76	0.19	0.11	0.18	1.61	(2.17)	5.72	(3.27)	11.16
CPRT	1.04	(0.15)	0.00	(0.23)	0.00	0.00	2.10	(2.82)	10.21
LVS	1.34	(0.19)	0.00	(0.25)	0.00	0.00	2.33	(2.75)	16.93
LEN	1.82	(0.05)	(0.02)	0.00	2.19	(2.07)	5.40	(3.47)	11.86
CMG	1.56	0.29	0.17	0.26	1.57	(1.80)	4.22	(3.17)	10.79
FLUT	2.04	(0.96)	0.00	(0.50)	0.00	0.00	2.16	(5.73)	15.91
TCOM	1.69	(0.42)	0.00	(0.37)	0.00	0.00	3.10	(4.15)	21.41

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