Hibbett Sports Correlations
| HIBBDelisted Stock | USD 87.49 0.00 0.00% |
The current 90-days correlation between Hibbett Sports and Big 5 Sporting is -0.05 (i.e., Good diversification). The correlation of Hibbett Sports 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.
Hibbett Sports Correlation With Market
Good diversification
The correlation between Hibbett Sports and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hibbett Sports and DJI in the same portfolio, assuming nothing else is changed.
Hibbett |
Moving against Hibbett Stock
| 0.36 | VWAGY | Volkswagen AG 110 | PairCorr |
| 0.34 | VWAPY | Volkswagen AG Pref | PairCorr |
| 0.34 | SNOW | Snowflake Trending | PairCorr |
| 0.33 | VLKAF | Volkswagen AG | PairCorr |
| 0.32 | VLKPF | Volkswagen AG VZO | PairCorr |
| 0.45 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
| -0.19 | 0.57 | 0.47 | 0.27 | BGFV | ||
| -0.19 | 0.03 | -0.04 | 0.41 | GCO | ||
| 0.57 | 0.03 | 0.77 | 0.62 | SCVL | ||
| 0.47 | -0.04 | 0.77 | 0.28 | HZO | ||
| 0.27 | 0.41 | 0.62 | 0.28 | DKS | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hibbett Stock performing well and Hibbett Sports 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 Hibbett Sports' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BGFV | 3.07 | (0.11) | 0.00 | (0.01) | 0.00 | 5.47 | 25.47 | |||
| GCO | 2.74 | (0.19) | (0.03) | 0.00 | 3.31 | 6.15 | 17.20 | |||
| SCVL | 2.06 | (0.51) | 0.00 | (0.16) | 0.00 | 5.16 | 16.24 | |||
| HZO | 2.40 | (0.30) | 0.00 | (0.01) | 0.00 | 6.01 | 18.16 | |||
| DKS | 1.39 | (0.26) | 0.00 | (0.36) | 0.00 | 2.49 | 9.72 |
Hibbett Sports Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Hibbett Sports stock to make a market-neutral strategy. Peer analysis of Hibbett Sports could also be used in its relative valuation, which is a method of valuing Hibbett Sports by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Hibbett Sports Corporate Management
| Michael Myers | VP LP | Profile | |
| Ronald Blahnik | Senior Officer | Profile | |
| William Quinn | Senior Digital | Profile | |
| Mark Gunn | Senior Officer | Profile | |
| Benjamin Knighten | Senior Operations | Profile |
Still Interested in Hibbett Sports?
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