Foot Locker Correlations

FL Stock

USD 18.04 0.91 4.80%

The current 90-days correlation between Foot Locker and Abercrombie Fitch is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Foot Locker moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Foot Locker moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Foot Locker Correlation With Market

Modest diversification

The correlation between Foot Locker and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foot Locker 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 Foot Locker. 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 more information on how to buy Foot Stock please use our How to buy in Foot Stock guide.

Moving together with Foot Stock

0.78	ONEW	Onewater Marine	Pair Corr
0.69	ECDA	ECD Automotive Design	Pair Corr
0.87	WEN	The Wendys Earnings Call This Week	Pair Corr
0.84	GENK	GEN Restaurant Group,	Pair Corr
0.82	SDHC	Smith Douglas Homes Downward Rally	Pair Corr
0.76	TXRH	Texas Roadhouse Earnings Call This Week	Pair Corr
0.66	STP	Step One Clothing	Pair Corr
0.74	SHG	Shinhan Financial	Pair Corr
0.66	WF	Woori Financial Group	Pair Corr
0.62	KB	KB Financial Group	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.7	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Foot Stock

0.76	SONY	Sony Group Corp Earnings Call This Week	Pair Corr
0.76	AVAL	Grupo Aval	Pair Corr
0.74	FNMFO	Federal National Mortgage Earnings Call This Week	Pair Corr
0.74	517834AH0	US517834AH06	Pair Corr
0.73	URBN	Urban Outfitters	Pair Corr
0.71	CIB	Bancolombia SA ADR	Pair Corr
0.68	HSEEF	Hill Street Beverage	Pair Corr
0.57	BCH	Banco De Chile Normal Trading	Pair Corr
0.83	DAN	Dana Inc	Pair Corr
0.76	KTOS	Kratos Defense Security Earnings Call This Week	Pair Corr
0.74	BA	Boeing	Pair Corr
0.68	AXP	American Express	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.52	T	ATT Inc Aggressive Push	Pair Corr
0.43	GE	GE Aerospace	Pair Corr
0.42	QD	Qudian Inc	Pair Corr
0.31	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	ANF	GPS	URBN	PLCE	AEO
ANF		0.0	-0.14	0.29	0.37	ANF
GPS	0.0		0.0	0.0	0.0	GPS
URBN	-0.14	0.0		-0.83	-0.61	URBN
PLCE	0.29	0.0	-0.83		0.69	PLCE
AEO	0.37	0.0	-0.61	0.69		AEO
	ANF	GPS	URBN	PLCE	AEO

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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

AEO	+ 0.69	PLCE
AEO	+ 0.37	ANF
PLCE	+ 0.29	ANF
GPS	+ 0.0	ANF
URBN	+ 0.0	GPS
PLCE	+ 0.0	GPS

High negative correlations

PLCE	- 0.83	URBN
AEO	- 0.61	URBN
URBN	- 0.14	ANF
AEO	- 0.0	GPS
PLCE	- 0.0	GPS
URBN	- 0.0	GPS

Risk-Adjusted Indicators

There is a big difference between Foot Stock performing well and Foot Locker 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 Foot Locker'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
ANF	2.54	(0.12)	0.00	0.39	0.00	0.00	5.09	(5.13)	23.02
GPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
URBN	2.23	0.71	0.30	1.68	1.74	(2.68)	4.35	(3.14)	24.24
PLCE	4.02	(0.32)	0.00	9.60	0.00	0.00	8.30	(12.03)	34.43
AEO	1.97	(0.33)	0.00	(0.54)	0.00	0.00	3.61	(4.26)	20.40

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