Canada Goose Correlations

Stocks . USA . 
Stock . Canada Goose Holdings
GOOS Stock  USD 9.36  0.14  1.47%   
The current 90-days correlation between Canada Goose Holdings and Oxford Industries is 0.35 (i.e., Weak 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

Average diversification

The correlation between Canada Goose Holdings 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 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

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  0.72DHI DR HortonPairCorr
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  0.61HOV Hovnanian EnterprisesPairCorr
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Moving against Canada Stock

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  0.49VSTO Vista OutdoorPairCorr
  0.47GIL Gildan ActivewearPairCorr
  0.46AS Amer Sports,PairCorr
  0.45ESCA Escalade IncorporatedPairCorr
  0.43HBI HanesbrandsPairCorr
  0.42RL Ralph Lauren CorpPairCorr
  0.42VOXX VOXX InternationalPairCorr
  0.77GM General Motors Aggressive PushPairCorr
  0.66LULU Lululemon AthleticaPairCorr
  0.6JRSH Jerash HoldingsPairCorr
  0.54BH Biglari HoldingsPairCorr

Related Correlations Analysis

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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   
OXM
+ 0.66
LEVI
UAA
+ 0.53
VFC
GIII
+ 0.28
VFC
GIII
+ 0.19
UAA
  
High negative correlations   
OXM
- 0.49
UAA
OXM
- 0.49
VFC
UAA
- 0.48
LEVI
GIII
- 0.26
OXM
LEVI
- 0.24
VFC
GIII
- 0.04
LEVI

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.

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