Envela Corp Correlations

ELA Stock

USD 7.13 0.06 0.85%

The current 90-days correlation between Envela Corp and Movado Group is 0.13 (i.e., Average diversification). The correlation of Envela Corp 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.

Envela Corp Correlation With Market

Good diversification

The correlation between Envela Corp and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Envela Corp 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 Envela Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For information on how to trade Envela Stock refer to our How to Trade Envela Stock guide.

Moving together with Envela Stock

0.67	AN	AutoNation	Pair Corr
0.83	RH	RH	Pair Corr
0.91	VSCO	Victorias Secret	Pair Corr
0.76	ETSY	Etsy Inc	Pair Corr
0.64	WINA	Winmark	Pair Corr
0.93	WRBY	Warby Parker Downward Rally	Pair Corr
0.65	FIVE	Five Below	Pair Corr
0.84	AAP	Advance Auto Parts	Pair Corr
0.72	AZO	AutoZone	Pair Corr
0.74	BBW	Build A Bear	Pair Corr
0.92	BKE	Buckle Inc	Pair Corr

Moving against Envela Stock

0.88	DIBS	1StdibsCom	Pair Corr
0.87	EDUC	Educational Development	Pair Corr
0.8	LE	Lands End	Pair Corr
0.79	EVGO	Evgo Inc Downward Rally	Pair Corr
0.71	BQ	Boqii Holding Limited	Pair Corr
0.71	DLTH	Duluth Holdings	Pair Corr
0.71	VIPS	Vipshop Holdings	Pair Corr
0.69	JD	JD Inc Adr Buyout Trend	Pair Corr
0.65	FL	Foot Locker	Pair Corr
0.51	DXLG	Destination XL Group	Pair Corr
0.47	YJ	Yunji Inc	Pair Corr
0.4	JL	J Long Group	Pair Corr
0.36	WOOF	Pet Acquisition LLC Potential Growth	Pair Corr
0.92	BGI	Birks Group	Pair Corr
0.8	AEO	American Eagle Outfitters	Pair Corr
0.8	XELB	Xcel Brands	Pair Corr
0.76	AKA	AKA Brands Holding	Pair Corr
0.75	BBY	Best Buy	Pair Corr
0.69	CAL	Continental	Pair Corr
0.5	FLWS	1 800 FLOWERSCOM	Pair Corr

Related Correlations Analysis

	MOV	MYTE	TPR	CPRI	LANV	FOSL	BRLT	SIG	JEWL
MOV		-0.04	0.63	-0.33	0.25	0.77	0.75	-0.13	0.51	MOV
MYTE	-0.04		0.27	0.34	0.35	0.2	0.28	-0.52	0.02	MYTE
TPR	0.63	0.27		-0.59	0.49	0.83	0.68	-0.66	0.52	TPR
CPRI	-0.33	0.34	-0.59		-0.17	-0.38	-0.2	0.27	-0.27	CPRI
LANV	0.25	0.35	0.49	-0.17		0.54	0.52	-0.61	0.29	LANV
FOSL	0.77	0.2	0.83	-0.38	0.54		0.8	-0.55	0.56	FOSL
BRLT	0.75	0.28	0.68	-0.2	0.52	0.8		-0.38	0.54	BRLT
SIG	-0.13	-0.52	-0.66	0.27	-0.61	-0.55	-0.38		-0.14	SIG
JEWL	0.51	0.02	0.52	-0.27	0.29	0.56	0.54	-0.14		JEWL
	MOV	MYTE	TPR	CPRI	LANV	FOSL	BRLT	SIG	JEWL

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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

FOSL	+ 0.83	TPR
BRLT	+ 0.8	FOSL
FOSL	+ 0.77	MOV
BRLT	+ 0.75	MOV
BRLT	+ 0.68	TPR
TPR	+ 0.63	MOV

High negative correlations

SIG	- 0.66	TPR
SIG	- 0.61	LANV
CPRI	- 0.59	TPR
SIG	- 0.55	FOSL
SIG	- 0.52	MYTE
SIG	- 0.38	BRLT

Risk-Adjusted Indicators

There is a big difference between Envela Stock performing well and Envela Corp 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 Envela Corp'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
MOV	1.35	0.05	0.03	0.09	1.47	(1.49)	2.75	(2.31)	8.10
MYTE	2.73	0.16	0.05	0.26	2.96	(3.63)	9.96	(5.59)	20.82
TPR	1.76	0.69	0.56	1.15	0.74	(2.45)	3.68	(1.95)	16.37
CPRI	2.83	(0.59)	0.00	0.61	0.00	0.00	6.04	(4.64)	49.06
LANV	5.05	0.29	0.05	(0.29)	6.05	(5.68)	13.92	(11.18)	29.32
FOSL	4.86	0.89	0.17	(9.20)	4.38	(6.05)	8.62	(8.46)	72.60
BRLT	2.70	(0.03)	0.00	(0.05)	0.00	0.00	7.69	(5.85)	17.39
SIG	2.02	(0.73)	0.00	(3.40)	0.00	0.00	2.89	(4.20)	27.79
JEWL	8.41	(0.66)	0.00	0.12	0.00	0.00	13.51	(23.68)	118.33

Envela Corp Corporate Management

Jim Ruth	Independent Director	Profile
Allison DeStefano	Director	Profile
John DeLuca	Chief Officer	Profile
Joel Friedman	Lead Independent Director	Profile
Alexandra Griffin	Independent Director	Profile

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