PetMed Express Correlations

PetMed Express Correlation With Market

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PetMed Express. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy PetMed Stock please use our How to Invest in PetMed Express guide.

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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    CJJD + 0.64 HITI SSY + 0.5 HITI YI + 0.36 WBA SSY + 0.34 CJJD LFLY + 0.19 YI LFLY + 0.19 SSY

High negative correlations    LFLY - 0.46 HITI LFLY - 0.35 CJJD YI - 0.14 HITI WBA - 0.03 CJJD

Risk-Adjusted Indicators

There is a big difference between PetMed Stock performing well and PetMed Express 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 PetMed Express' 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.