Eastside Distilling Correlations

EAST Stock

USD 0.56 0.01 1.82%

The correlation of Eastside Distilling 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.

Eastside Distilling Correlation With Market

Good diversification

The correlation between Eastside Distilling and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eastside Distilling and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Eastside Stock please use our How to Invest in Eastside Distilling guide.

Moving together with Eastside Stock

0.64

WVVI

Willamette Valley

Pair Corr

Moving against Eastside Stock

0.68	KR	Kroger Company Earnings Call This Week	Pair Corr
0.65	K	Kellanova	Pair Corr
0.59	BJ	BJs Wholesale Club	Pair Corr
0.56	VINE	Fresh Grapes LLC	Pair Corr
0.5	LW	Lamb Weston Holdings	Pair Corr
0.45	JZ	Jianzhi Education	Pair Corr
0.4	NAPA	Duckhorn Portfolio	Pair Corr
0.39	IH	Ihuman Inc	Pair Corr
0.31	LVMUY	LVMH Moet Hennessy	Pair Corr
0.6	WTER	Alkaline Water	Pair Corr
0.39	BRLSW	Borealis Foods Symbol Change	Pair Corr
0.38	WILC	G Willi Food	Pair Corr
0.35	VITL	Vital Farms	Pair Corr
0.33	VSTA	Vasta Platform	Pair Corr
0.31	FAMI	Farmmi Inc	Pair Corr

Related Correlations Analysis

	MJWNY	ADWPF	ICNB	NWINF	PDRDF	CWGL	BF-A	PRNDY	BF-B	MGPI
MJWNY		-0.4	0.0	-0.43	-0.14	-0.58	-0.45	-0.16	-0.54	0.14	MJWNY
ADWPF	-0.4		0.0	0.48	0.38	0.12	0.64	0.35	0.62	0.33	ADWPF
ICNB	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ICNB
NWINF	-0.43	0.48	0.0		0.08	0.25	0.3	0.11	0.35	-0.02	NWINF
PDRDF	-0.14	0.38	0.0	0.08		-0.45	0.81	0.97	0.77	0.85	PDRDF
CWGL	-0.58	0.12	0.0	0.25	-0.45		-0.1	-0.45	0.01	-0.66	CWGL
BF-A	-0.45	0.64	0.0	0.3	0.81	-0.1		0.82	0.99	0.64	BF-A
PRNDY	-0.16	0.35	0.0	0.11	0.97	-0.45	0.82		0.8	0.86	PRNDY
BF-B	-0.54	0.62	0.0	0.35	0.77	0.01	0.99	0.8		0.58	BF-B
MGPI	0.14	0.33	0.0	-0.02	0.85	-0.66	0.64	0.86	0.58		MGPI
	MJWNY	ADWPF	ICNB	NWINF	PDRDF	CWGL	BF-A	PRNDY	BF-B	MGPI

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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

BF-B	+ 0.99	BF-A
PRNDY	+ 0.97	PDRDF
MGPI	+ 0.86	PRNDY
MGPI	+ 0.85	PDRDF
PRNDY	+ 0.82	BF-A
BF-A	+ 0.81	PDRDF

High negative correlations

MGPI	- 0.66	CWGL
CWGL	- 0.58	MJWNY
BF-B	- 0.54	MJWNY
PRNDY	- 0.45	CWGL
CWGL	- 0.45	PDRDF
BF-A	- 0.45	MJWNY

Risk-Adjusted Indicators

There is a big difference between Eastside Stock performing well and Eastside Distilling 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 Eastside Distilling'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
MJWNY	0.47	0.09	0.00	(0.09)	0.00	0.00	0.00	0.00	14.59
ADWPF	0.69	(0.10)	0.00	(0.55)	0.00	0.00	1.97	(2.46)	11.62
ICNB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NWINF	4.37	0.00	0.00	0.12	4.91	(7.36)	13.64	(9.72)	32.00
PDRDF	2.07	(0.36)	0.00	(0.58)	0.00	0.00	4.89	(5.32)	15.45
CWGL	1.41	0.07	0.01	0.23	1.90	(1.61)	3.19	(2.97)	19.59
BF-A	1.13	(0.15)	0.00	(2.62)	0.00	0.00	2.07	(2.63)	8.75
PRNDY	1.42	(0.36)	0.00	(0.98)	0.00	0.00	2.59	(3.17)	11.47
BF-B	1.09	(0.13)	0.00	(1.34)	0.00	0.00	1.79	(2.91)	8.19
MGPI	2.18	(1.06)	0.00	(0.88)	0.00	0.00	2.31	(5.26)	26.71

Eastside Distilling Corporate Management

Heather Whyte	VP HR	Profile
Amy Lancer	Chief Spirits	Profile
Amy Brassard	HR Admin	Profile
Christopher Moe	Chief Officer	Profile

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