ELF Beauty Correlations

ELF Stock

USD 84.99 0.04 0.05%

The correlation of ELF Beauty 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.

ELF Beauty Correlation With Market

Significant diversification

The correlation between ELF Beauty and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ELF Beauty and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ELF Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ELF Beauty. 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.

For more detail on how to invest in ELF Stock please use our How to Invest in ELF Beauty guide.

Moving together with ELF Stock

0.68	EPC	Edgewell Personal Care	Pair Corr
0.83	HNST	Honest Company	Pair Corr
0.72	COTY	Coty Inc	Pair Corr

Moving against ELF Stock

0.54	002919	Mingchen Health	Pair Corr
0.57	LNC-PD	Lincoln National Earnings Call This Week	Pair Corr
0.5	200447AL4	CFELEC 4688 15	Pair Corr
0.47	377320AA4	US377320AA45	Pair Corr
0.45	LSBK	Lake Shore Bancorp	Pair Corr
0.39	PEYUF	Peyto ExplorationDevel	Pair Corr

Related Correlations Analysis

	TAL	INGR	OLLI	POST	SFM	CAG	DAR	COTY	LOPE	SFD
TAL		0.26	0.37	0.35	0.44	-0.06	-0.23	0.7	0.61	-0.18	TAL
INGR	0.26		-0.38	-0.21	0.0	0.25	0.6	0.07	0.7	0.7	INGR
OLLI	0.37	-0.38		0.63	0.4	-0.14	-0.5	0.62	0.12	-0.66	OLLI
POST	0.35	-0.21	0.63		0.52	0.1	-0.61	0.65	0.4	-0.53	POST
SFM	0.44	0.0	0.4	0.52		0.1	-0.47	0.62	0.47	-0.47	SFM
CAG	-0.06	0.25	-0.14	0.1	0.1		0.19	0.08	0.1	0.17	CAG
DAR	-0.23	0.6	-0.5	-0.61	-0.47	0.19		-0.51	0.0	0.75	DAR
COTY	0.7	0.07	0.62	0.65	0.62	0.08	-0.51		0.61	-0.45	COTY
LOPE	0.61	0.7	0.12	0.4	0.47	0.1	0.0	0.61		0.14	LOPE
SFD	-0.18	0.7	-0.66	-0.53	-0.47	0.17	0.75	-0.45	0.14		SFD
	TAL	INGR	OLLI	POST	SFM	CAG	DAR	COTY	LOPE	SFD

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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

SFD	+ 0.75	DAR
COTY	+ 0.7	TAL
LOPE	+ 0.7	INGR
SFD	+ 0.7	INGR
COTY	+ 0.65	POST
POST	+ 0.63	OLLI

High negative correlations

SFD	- 0.66	OLLI
DAR	- 0.61	POST
SFD	- 0.53	POST
COTY	- 0.51	DAR
DAR	- 0.5	OLLI
SFD	- 0.47	SFM

Risk-Adjusted Indicators

There is a big difference between ELF Stock performing well and ELF Beauty 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 ELF Beauty'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
TAL	2.15	0.02	0.00	0.09	2.11	(2.80)	5.32	(3.66)	14.18
INGR	0.80	(0.03)	(0.04)	(0.01)	1.29	(0.83)	2.26	(1.63)	6.05
OLLI	1.64	(0.19)	0.00	(0.09)	0.00	0.00	3.30	(2.82)	10.10
POST	1.16	(0.13)	0.00	0.43	0.00	0.00	2.02	(2.44)	9.22
SFM	2.10	(0.58)	0.00	(0.70)	0.00	0.00	3.16	(3.68)	26.63
CAG	1.27	0.00	(0.01)	0.06	1.75	(1.20)	2.63	(2.54)	7.17
DAR	1.69	0.39	0.21	0.40	1.49	(1.95)	4.51	(2.74)	10.67
COTY	1.80	(0.48)	0.00	(0.36)	0.00	0.00	2.61	(4.14)	9.89
LOPE	1.48	(0.38)	0.00	(0.45)	0.00	0.00	2.78	(3.56)	10.26
SFD	0.92	0.16	0.10	1.17	0.93	(1.06)	2.32	(1.60)	8.32

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