Purple Innovation Correlations

PRPL Stock

USD 0.77 0.02 2.53%

The current 90-days correlation between Purple Innovation and iRobot is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purple Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purple Innovation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purple Innovation Correlation With Market

Significant diversification

The correlation between Purple Innovation and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purple Innovation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Purple Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Purple Innovation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

For more information on how to buy Purple Stock please use our How to buy in Purple Stock guide.

Moving against Purple Stock

0.65	IRBT	iRobot	Pair Corr
0.47	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.4	PPERY	Bank Mandiri Persero	Pair Corr
0.53	BSBR	Banco Santander Brasil	Pair Corr
0.45	MAR	Marriott International	Pair Corr
0.37	APG	Api Group Corp	Pair Corr
0.51	CHDRF	Christian Dior SE	Pair Corr
0.51	ABEV	Ambev SA ADR	Pair Corr
0.44	AGX	Argan Inc Upward Rally	Pair Corr
0.39	SPGI	SP Global	Pair Corr

Related Correlations Analysis

	IRBT	NVFY	RRGB	FLL	LAZR	HOFT	LCUT	THCH	GRWG	QVCGA
IRBT		0.63	-0.53	-0.19	-0.2	0.34	0.15	0.13	-0.09	-0.48	IRBT
NVFY	0.63		-0.74	0.12	-0.8	0.53	0.71	-0.24	0.06	-0.31	NVFY
RRGB	-0.53	-0.74		0.11	0.6	-0.74	-0.49	0.14	0.15	0.35	RRGB
FLL	-0.19	0.12	0.11		-0.19	0.0	0.35	-0.28	0.56	0.45	FLL
LAZR	-0.2	-0.8	0.6	-0.19		-0.62	-0.77	0.43	0.01	0.08	LAZR
HOFT	0.34	0.53	-0.74	0.0	-0.62		0.52	-0.46	-0.14	0.13	HOFT
LCUT	0.15	0.71	-0.49	0.35	-0.77	0.52		-0.34	-0.11	0.13	LCUT
THCH	0.13	-0.24	0.14	-0.28	0.43	-0.46	-0.34		-0.36	-0.51	THCH
GRWG	-0.09	0.06	0.15	0.56	0.01	-0.14	-0.11	-0.36		0.12	GRWG
QVCGA	-0.48	-0.31	0.35	0.45	0.08	0.13	0.13	-0.51	0.12		QVCGA
	IRBT	NVFY	RRGB	FLL	LAZR	HOFT	LCUT	THCH	GRWG	QVCGA

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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

LCUT	+ 0.71	NVFY
NVFY	+ 0.63	IRBT
LAZR	+ 0.6	RRGB
GRWG	+ 0.56	FLL
HOFT	+ 0.53	NVFY
LCUT	+ 0.52	HOFT

High negative correlations

LAZR	- 0.8	NVFY
LCUT	- 0.77	LAZR
HOFT	- 0.74	RRGB
RRGB	- 0.74	NVFY
HOFT	- 0.62	LAZR
RRGB	- 0.53	IRBT

Risk-Adjusted Indicators

There is a big difference between Purple Stock performing well and Purple Innovation 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 Purple Innovation'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
IRBT	13.60	(3.40)	0.00	15.92	0.00	0.00	21.78	(35.59)	146.53
NVFY	4.41	1.58	0.38	0.60	3.04	(5.16)	11.36	(7.81)	68.23
RRGB	2.29	(0.79)	0.00	(0.54)	0.00	0.00	4.75	(5.15)	11.44
FLL	2.59	(0.08)	0.00	(0.05)	0.00	0.00	4.86	(4.87)	16.22
LAZR	12.13	(1.72)	0.00	3.70	0.00	0.00	17.05	(45.02)	236.06
HOFT	2.00	0.69	0.21	(1.03)	2.05	(2.21)	4.90	(3.41)	14.96
LCUT	2.66	0.22	0.05	0.44	3.12	(3.03)	6.01	(4.39)	21.40
THCH	2.75	(0.16)	0.00	(0.16)	0.00	0.00	5.02	(5.88)	16.21
GRWG	3.61	0.02	(0.02)	(0.34)	3.98	(4.89)	5.36	(5.82)	52.12
QVCGA	6.29	(0.28)	0.00	(0.39)	0.00	0.00	14.97	(14.29)	46.70

Purple Innovation Corporate Management

John IV	Chief Officer	Profile
Jeff Hutchings	Chief Officer	Profile
Tricia McDermottSpikes	Chief Secretary	Profile
Todd CPA	Chief Officer	Profile
Verdi III	Chief Officer	Profile
Robert DeMartini	CEO Director	Profile
Casey McGarvey	Chief Legal Officer	Profile

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