Funko Correlations

FNKO Stock

USD 10.61 0.28 2.71%

The current 90-days correlation between Funko Inc and Steven Madden is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Funko moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Funko Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Funko Correlation With Market

Average diversification

The correlation between Funko Inc and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Funko Inc 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 Funko Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Funko Stock

0.7	W	Wayfair	Pair Corr
0.7	JD	JD Inc Adr	Pair Corr
0.71	LE	Lands End	Pair Corr
0.66	RH	RH	Pair Corr
0.71	VIPS	Vipshop Holdings	Pair Corr
0.77	EBAY	eBay Inc	Pair Corr
0.81	WOOF	Pet Acquisition LLC Earnings Call This Week	Pair Corr
0.72	FIVE	Five Below Earnings Call This Week	Pair Corr

Moving against Funko Stock

0.44	AAP	Advance Auto Parts	Pair Corr
0.35	FL	Foot Locker Earnings Call This Week	Pair Corr
0.32	ABG	Asbury Automotive	Pair Corr
0.71	AZI	Autozi Internet Tech	Pair Corr
0.52	CAL	Continental	Pair Corr
0.49	GME	GameStop Corp Aggressive Push	Pair Corr
0.43	PAG	Penske Automotive	Pair Corr
0.37	GCO	Genesco Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SHOO	VRA	CAL	RCKY	DBI
SHOO		0.06	-0.17	0.5	0.48	SHOO
VRA	0.06		0.65	0.25	0.61	VRA
CAL	-0.17	0.65		0.55	0.67	CAL
RCKY	0.5	0.25	0.55		0.77	RCKY
DBI	0.48	0.61	0.67	0.77		DBI
	SHOO	VRA	CAL	RCKY	DBI

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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

DBI	+ 0.77	RCKY
DBI	+ 0.67	CAL
CAL	+ 0.65	VRA
DBI	+ 0.61	VRA
RCKY	+ 0.55	CAL
RCKY	+ 0.5	SHOO

High negative correlations

CAL

- 0.17

SHOO

Risk-Adjusted Indicators

There is a big difference between Funko Stock performing well and Funko 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 Funko'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
SHOO	1.27	(0.09)	(0.08)	(0.01)	1.62	(1.36)	2.93	(2.60)	8.41
VRA	1.71	(0.32)	0.00	(0.13)	0.00	0.00	3.94	(3.84)	12.01
CAL	2.09	(0.57)	0.00	(0.26)	0.00	0.00	4.20	(4.22)	23.04
RCKY	2.27	(0.60)	0.00	(0.18)	0.00	0.00	4.14	(4.71)	34.79
DBI	2.94	(0.72)	0.00	(0.45)	0.00	0.00	6.76	(7.74)	19.89

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