Canada Goose Correlations

GOOS Stock

USD 9.72 0.22 2.21%

The current 90-days correlation between Canada Goose Holdings and Hanesbrands is 0.13 (i.e., Average diversification). The correlation of Canada Goose 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.

Canada Goose Correlation With Market

Modest diversification

The correlation between Canada Goose Holdings and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canada Goose Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canada Goose Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Canada Stock

0.63

Amer Sports,

Pair Corr

Moving against Canada Stock

0.62	DOGZ	Dogness International	Pair Corr
0.57	EZGO	EZGO Technologies	Pair Corr
0.5	HWH	HWH International	Pair Corr
0.45	DFH	Dream Finders Homes	Pair Corr
0.44	WLDS	Wearable Devices	Pair Corr
0.42	HOV	Hovnanian Enterprises	Pair Corr
0.4	BZH	Beazer Homes USA	Pair Corr
0.38	UA	Under Armour C	Pair Corr
0.36	CCS	Century Communities	Pair Corr
0.35	VMAR	Vision Marine Techno	Pair Corr
0.34	DHI	DR Horton	Pair Corr
0.34	DTC	Solo Brands	Pair Corr
0.33	VOXX	VOXX International	Pair Corr
0.32	BC	Brunswick	Pair Corr
0.43	PII	Polaris Industries Buyout Trend	Pair Corr
0.42	LEN	Lennar Earnings Call This Week	Pair Corr
0.42	MHO	MI Homes	Pair Corr
0.42	UHG	United Homes Group Earnings Call This Week	Pair Corr
0.42	VRA	Vera Bradley Earnings Call This Week	Pair Corr
0.4	KBH	KB Home	Pair Corr
0.39	NVR	NVR Inc	Pair Corr
0.38	TPH	TRI Pointe Homes	Pair Corr
0.36	MPX	Marine Products	Pair Corr
0.34	MTH	Meritage	Pair Corr

Related Correlations Analysis

	PVH	VFC	LEVI	UAA	COLM	HBI	RL	UA
PVH		-0.77	-0.43	0.84	0.21	0.83	-0.89	0.82	PVH
VFC	-0.77		0.58	-0.66	0.11	-0.55	0.81	-0.68	VFC
LEVI	-0.43	0.58		-0.18	0.03	-0.23	0.54	-0.19	LEVI
UAA	0.84	-0.66	-0.18		0.29	0.8	-0.78	0.97	UAA
COLM	0.21	0.11	0.03	0.29		-0.02	-0.02	0.3	COLM
HBI	0.83	-0.55	-0.23	0.8	-0.02		-0.83	0.78	HBI
RL	-0.89	0.81	0.54	-0.78	-0.02	-0.83		-0.76	RL
UA	0.82	-0.68	-0.19	0.97	0.3	0.78	-0.76		UA
	PVH	VFC	LEVI	UAA	COLM	HBI	RL	UA

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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

UA	+ 0.97	UAA
UAA	+ 0.84	PVH
HBI	+ 0.83	PVH
UA	+ 0.82	PVH
RL	+ 0.81	VFC
HBI	+ 0.8	UAA

High negative correlations

RL	- 0.89	PVH
RL	- 0.83	HBI
RL	- 0.78	UAA
VFC	- 0.77	PVH
UA	- 0.76	RL
UA	- 0.68	VFC

Risk-Adjusted Indicators

There is a big difference between Canada Stock performing well and Canada Goose 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 Canada Goose'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
PVH	1.72	(0.56)	0.00	(0.85)	0.00	0.00	2.59	(4.80)	10.84
VFC	1.95	0.28	0.12	0.38	2.18	(2.13)	4.77	(3.66)	13.20
LEVI	1.55	0.08	0.04	0.01	1.78	(1.72)	4.15	(3.22)	8.53
UAA	1.86	(0.44)	0.00	(0.84)	0.00	0.00	4.15	(5.56)	13.25
COLM	1.24	(0.02)	0.00	(0.12)	0.00	0.00	2.60	(3.12)	10.01
HBI	1.89	(0.52)	0.00	(1.35)	0.00	0.00	3.54	(4.25)	23.59
RL	1.41	0.20	0.16	(0.49)	1.58	(1.52)	3.61	(3.24)	12.93
UA	1.63	(0.50)	0.00	(0.89)	0.00	0.00	3.02	(4.75)	12.15

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