Carriage Services Correlations

CSV Stock

USD 46.07 0.88 1.95%

The current 90-days correlation between Carriage Services and Build A Bear Workshop is 0.16 (i.e., Average diversification). The correlation of Carriage Services 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.

Carriage Services Correlation With Market

Very weak diversification

The correlation between Carriage Services and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carriage Services and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Carriage Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Carriage Services. 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 information on how to buy Carriage Stock please use our How to Invest in Carriage Services guide.

Moving together with Carriage Stock

0.68	7FW	TELLUSGRUPPEN AB	Pair Corr
0.65	EWCZ	European Wax Center	Pair Corr
0.8	MCW	Mister Car Wash	Pair Corr

Moving against Carriage Stock

0.69	GEM	G8 Education	Pair Corr
0.64	DUOL	Duolingo	Pair Corr
0.6	EEIQ	Elite Education Group	Pair Corr
0.57	GV	Visionary Education	Pair Corr
0.49	FCHL	Fitness Champs Holdings	Pair Corr
0.38	JZ	Jianzhi Education	Pair Corr
0.38	WW	WW International Common	Pair Corr
0.36	KME	Kip Mcgrath Education	Pair Corr
0.68	NXD	Nexted Group	Pair Corr
0.61	HRB	HR Block	Pair Corr
0.6	GNS	Genius Group	Pair Corr
0.56	RGS	Regis Common	Pair Corr
0.42	AFL	Af Legal Group	Pair Corr
0.42	FEDU	Four Seasons Education	Pair Corr
0.42	COE	51Talk Online Education	Pair Corr
0.35	SGN	Signing Day Sports	Pair Corr

Related Correlations Analysis

	BBW	PLOW	CBRL	MYE	BZH	CARS	ETD	BALY	AXL	LIND
BBW		-0.14	0.19	-0.12	-0.29	0.34	0.12	0.32	-0.35	-0.05	BBW
PLOW	-0.14		0.73	0.96	0.81	-0.75	0.06	-0.85	0.9	0.96	PLOW
CBRL	0.19	0.73		0.72	0.77	-0.58	0.41	-0.58	0.64	0.73	CBRL
MYE	-0.12	0.96	0.72		0.8	-0.63	0.16	-0.86	0.88	0.97	MYE
BZH	-0.29	0.81	0.77	0.8		-0.65	0.37	-0.77	0.78	0.78	BZH
CARS	0.34	-0.75	-0.58	-0.63	-0.65		0.19	0.71	-0.81	-0.64	CARS
ETD	0.12	0.06	0.41	0.16	0.37	0.19		-0.05	-0.09	0.08	ETD
BALY	0.32	-0.85	-0.58	-0.86	-0.77	0.71	-0.05		-0.82	-0.82	BALY
AXL	-0.35	0.9	0.64	0.88	0.78	-0.81	-0.09	-0.82		0.88	AXL
LIND	-0.05	0.96	0.73	0.97	0.78	-0.64	0.08	-0.82	0.88		LIND
	BBW	PLOW	CBRL	MYE	BZH	CARS	ETD	BALY	AXL	LIND

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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

LIND	+ 0.97	MYE
MYE	+ 0.96	PLOW
LIND	+ 0.96	PLOW
AXL	+ 0.9	PLOW
AXL	+ 0.88	MYE
LIND	+ 0.88	AXL

High negative correlations

BALY	- 0.86	MYE
BALY	- 0.85	PLOW
LIND	- 0.82	BALY
AXL	- 0.82	BALY
AXL	- 0.81	CARS
BALY	- 0.77	BZH

Risk-Adjusted Indicators

There is a big difference between Carriage Stock performing well and Carriage Services 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 Carriage Services' 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
BBW	2.47	(0.10)	0.00	0.03	4.62	(2.11)	4.42	(6.45)	25.04
PLOW	1.21	0.51	0.56	0.52	0.22	(1.61)	3.90	(1.33)	7.23
CBRL	2.90	0.20	0.09	0.19	2.88	(3.35)	7.62	(5.07)	13.74
MYE	1.13	0.32	0.25	0.37	0.74	(1.31)	2.88	(1.47)	6.87
BZH	2.00	0.18	0.09	0.19	2.19	(2.49)	5.91	(2.90)	19.78
CARS	1.91	(0.54)	0.00	(0.26)	0.00	0.00	2.97	(4.44)	20.18
ETD	1.37	(0.08)	(0.04)	0.01	1.82	(1.44)	3.15	(2.92)	10.75
BALY	2.72	(0.39)	0.00	(0.17)	0.00	0.00	4.30	(6.26)	16.79
AXL	2.40	0.59	0.18	(1.61)	2.14	(2.71)	8.55	(4.01)	13.56
LIND	1.89	0.65	0.38	0.46	1.22	(2.29)	4.10	(2.70)	16.28

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