Deckers Outdoor Correlations

DECK Stock

USD 108.10 1.31 1.23%

The current 90-days correlation between Deckers Outdoor and Crown Holdings is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Deckers Outdoor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Deckers Outdoor moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Deckers Outdoor Correlation With Market

Modest diversification

The correlation between Deckers Outdoor and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deckers Outdoor and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Deckers Stock

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

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

Moving together with Deckers Stock

0.71	BIRK	Birkenstock Holding plc Sell-off Trend	Pair Corr
0.65	CROX	Crocs Inc	Pair Corr
0.69	NLST	Netlist	Pair Corr

Moving against Deckers Stock

0.69	BKRKY	Bank Rakyat	Pair Corr
0.68	002034	Wangneng Environment	Pair Corr
0.61	603365	Shanghai Shuixing Home	Pair Corr
0.56	002397	Hunan Mendale Hometextile	Pair Corr
0.5	603958	Harson Trading China	Pair Corr
0.45	BKRKF	PT Bank Rakyat	Pair Corr
0.42	BIRD	Allbirds	Pair Corr
0.63	PBCRY	Bank Central Asia	Pair Corr
0.35	459200KV2	IBM 49 27	Pair Corr
0.34	68233JBD5	US68233JBD54	Pair Corr
0.33	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.72	TEN	Tsakos Energy Navigation	Pair Corr
0.52	SMFL	Smart for Life	Pair Corr

Related Correlations Analysis

	CCK	SN	ONON	TOL	SCI	HTHT	PAG	BALL	BIRK	MGA
CCK		0.64	0.38	0.49	-0.42	0.67	-0.16	0.77	-0.01	0.82	CCK
SN	0.64		0.79	0.67	-0.58	0.7	0.39	0.76	0.51	0.77	SN
ONON	0.38	0.79		0.5	-0.49	0.6	0.56	0.62	0.7	0.56	ONON
TOL	0.49	0.67	0.5		-0.14	0.33	0.48	0.53	0.56	0.45	TOL
SCI	-0.42	-0.58	-0.49	-0.14		-0.86	0.24	-0.3	-0.03	-0.6	SCI
HTHT	0.67	0.7	0.6	0.33	-0.86		-0.16	0.51	0.11	0.85	HTHT
PAG	-0.16	0.39	0.56	0.48	0.24	-0.16		0.26	0.82	-0.06	PAG
BALL	0.77	0.76	0.62	0.53	-0.3	0.51	0.26		0.34	0.75	BALL
BIRK	-0.01	0.51	0.7	0.56	-0.03	0.11	0.82	0.34		0.13	BIRK
MGA	0.82	0.77	0.56	0.45	-0.6	0.85	-0.06	0.75	0.13		MGA
	CCK	SN	ONON	TOL	SCI	HTHT	PAG	BALL	BIRK	MGA

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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

MGA	+ 0.85	HTHT
MGA	+ 0.82	CCK
BIRK	+ 0.82	PAG
ONON	+ 0.79	SN
BALL	+ 0.77	CCK
MGA	+ 0.77	SN

High negative correlations

HTHT	- 0.86	SCI
MGA	- 0.6	SCI
SCI	- 0.58	SN
SCI	- 0.49	ONON
SCI	- 0.42	CCK
BALL	- 0.3	SCI

Risk-Adjusted Indicators

There is a big difference between Deckers Stock performing well and Deckers Outdoor 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 Deckers Outdoor'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
CCK	1.16	0.11	0.05	0.31	1.32	(1.27)	2.35	(2.25)	9.29
SN	1.95	0.09	0.04	0.15	2.44	(2.02)	5.93	(3.56)	14.41
ONON	2.07	0.25	0.10	0.52	1.99	(2.63)	4.25	(3.54)	22.34
TOL	1.20	(0.14)	0.00	(0.02)	0.00	0.00	4.26	(2.72)	8.50
SCI	0.83	(0.11)	0.00	(0.20)	0.00	0.00	1.63	(1.63)	7.10
HTHT	1.15	0.29	0.21	0.68	0.89	(1.36)	2.59	(1.65)	11.45
PAG	0.98	(0.20)	0.00	(0.15)	0.00	0.00	2.77	(1.88)	6.16
BALL	1.08	0.08	0.02	0.34	1.49	(1.03)	3.01	(2.21)	7.45
BIRK	1.63	(0.20)	0.00	(0.14)	0.00	0.00	3.37	(2.87)	16.78
MGA	1.30	0.17	0.10	0.23	1.47	(1.39)	3.67	(2.63)	9.62

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