Central Garden Correlations

CENT Stock

USD 38.81 0.11 0.28%

The current 90-days correlation between Central Garden Pet and Seneca Foods Corp is -0.03 (i.e., Good diversification). The correlation of Central Garden 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Central Garden Correlation With Market

Very weak diversification

The correlation between Central Garden Pet and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Central Garden Pet 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 Central Garden Pet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Central Stock

1.0	CENTA	Central Garden Pet	Pair Corr
0.74	ELF	ELF Beauty	Pair Corr
0.81	EPC	Edgewell Personal Care	Pair Corr
0.67	HLF	Herbalife Nutrition	Pair Corr
0.84	NUS	Nu Skin Enterprises	Pair Corr
0.74	NHTC	Natural Health Trend	Pair Corr

Moving against Central Stock

0.66	HELE	Helen of Troy	Pair Corr
0.54	LFVN	Lifevantage	Pair Corr
0.54	TANH	Tantech Holdings	Pair Corr
0.49	LW	Lamb Weston Holdings Sell-off Trend	Pair Corr
0.45	K	Kellanova	Pair Corr
0.41	BJ	BJs Wholesale Club	Pair Corr
0.32	SHOT	Safety Shot	Pair Corr
0.32	KR	Kroger Company Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SENEB	MKC-V	NATR	SENEA	CENTA	ASBFF	BRID	JJSF	LWAY	LFVN
SENEB		-0.25	0.23	0.22	0.16	-0.28	-0.04	-0.09	-0.1	0.17	SENEB
MKC-V	-0.25		-0.54	-0.57	0.15	0.64	0.05	-0.1	-0.13	-0.52	MKC-V
NATR	0.23	-0.54		0.74	0.34	-0.4	-0.09	0.32	-0.12	0.39	NATR
SENEA	0.22	-0.57	0.74		-0.07	-0.74	-0.39	0.21	0.34	0.69	SENEA
CENTA	0.16	0.15	0.34	-0.07		0.32	0.6	0.16	-0.86	-0.57	CENTA
ASBFF	-0.28	0.64	-0.4	-0.74	0.32		0.38	-0.07	-0.45	-0.72	ASBFF
BRID	-0.04	0.05	-0.09	-0.39	0.6	0.38		0.04	-0.67	-0.7	BRID
JJSF	-0.09	-0.1	0.32	0.21	0.16	-0.07	0.04		0.11	0.25	JJSF
LWAY	-0.1	-0.13	-0.12	0.34	-0.86	-0.45	-0.67	0.11		0.75	LWAY
LFVN	0.17	-0.52	0.39	0.69	-0.57	-0.72	-0.7	0.25	0.75		LFVN
	SENEB	MKC-V	NATR	SENEA	CENTA	ASBFF	BRID	JJSF	LWAY	LFVN

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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

LFVN	+ 0.75	LWAY
SENEA	+ 0.74	NATR
LFVN	+ 0.69	SENEA
ASBFF	+ 0.64	MKC-V
BRID	+ 0.6	CENTA
LFVN	+ 0.39	NATR

High negative correlations

LWAY	- 0.86	CENTA
ASBFF	- 0.74	SENEA
LFVN	- 0.72	ASBFF
LFVN	- 0.7	BRID
LWAY	- 0.67	BRID
LFVN	- 0.57	CENTA

Risk-Adjusted Indicators

There is a big difference between Central Stock performing well and Central Garden 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 Central Garden'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
SENEB	1.27	0.27	0.06	(4.62)	1.22	(2.17)	4.02	(2.64)	11.90
MKC-V	0.96	0.00	0.00	0.13	0.00	0.00	2.22	(2.75)	5.53
NATR	2.09	0.07	0.10	0.15	1.82	(2.70)	6.11	(2.99)	22.72
SENEA	1.14	0.19	0.10	0.33	1.45	(1.27)	2.87	(1.85)	11.87
CENTA	1.28	(0.15)	(0.09)	(0.01)	1.45	(1.46)	2.74	(2.72)	6.82
ASBFF	0.31	(0.15)	0.00	1.35	0.00	0.00	0.00	0.00	6.28
BRID	2.40	(0.26)	0.00	(7.25)	0.00	0.00	4.52	(7.02)	32.90
JJSF	0.99	(0.12)	(0.08)	0.01	1.26	(1.04)	2.12	(1.89)	9.61
LWAY	2.28	0.39	0.13	0.78	2.34	(2.72)	4.86	(5.06)	31.34
LFVN	3.68	0.96	0.17	(2.70)	4.11	(4.17)	8.92	(6.81)	26.14

Central Garden Corporate Management

Howard CPA	Senior Officer	Profile
Aron Kolosik	Chief Officer	Profile
Marilyn Leahy	Interim Resources	Profile
Friederike Edelmann	Vice Relations	Profile

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