Royal Caribbean Correlations

RCL Stock

USD 237.57 1.70 0.72%

The current 90-days correlation between Royal Caribbean Cruises and Carnival is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Royal Caribbean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Royal Caribbean Cruises moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Royal Caribbean Correlation With Market

Poor diversification

The correlation between Royal Caribbean Cruises and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royal Caribbean Cruises and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Royal Stock

0.65	SG	Sweetgreen Buyout Trend	Pair Corr
0.94	WH	Wyndham Hotels Resorts	Pair Corr
0.93	EVRI	Everi Holdings	Pair Corr
0.98	EXPE	Expedia Group	Pair Corr
0.89	AGS	PlayAGS	Pair Corr
0.93	BYD	Boyd Gaming	Pair Corr
0.96	CHH	Choice Hotels Intern	Pair Corr
0.72	CMG	Chipotle Mexican Grill	Pair Corr
0.72	CSV	Carriage Services	Pair Corr
0.99	CUK	Carnival Plc ADS	Pair Corr
0.71	DPZ	Dominos Pizza	Pair Corr
0.97	EAT	Brinker International	Pair Corr
0.67	FAT	FAT Brands	Pair Corr
0.75	GAN	Gan	Pair Corr
0.89	FTDR	Frontdoor	Pair Corr
0.71	HGV	Hilton Grand Vacations	Pair Corr
0.96	HLT	Hilton Worldwide Holdings	Pair Corr
0.94	IHG	InterContinental Hotels	Pair Corr

Moving against Royal Stock

0.66	WING	Wingstop	Pair Corr
0.81	HRB	HR Block	Pair Corr
0.77	EJH	E Home Household	Pair Corr
0.73	IGT	International Game	Pair Corr
0.44	BTBDW	BT Brands Warrant	Pair Corr
0.36	YTRA	Yatra Online	Pair Corr

Related Correlations Analysis

	CCL	ABNB	EXPE	BKNG	NCLH	TRIP
CCL		0.85	0.96	0.97	0.98	0.46	CCL
ABNB	0.85		0.8	0.82	0.89	0.68	ABNB
EXPE	0.96	0.8		0.97	0.93	0.41	EXPE
BKNG	0.97	0.82	0.97		0.96	0.44	BKNG
NCLH	0.98	0.89	0.93	0.96		0.52	NCLH
TRIP	0.46	0.68	0.41	0.44	0.52		TRIP
	CCL	ABNB	EXPE	BKNG	NCLH	TRIP

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Risk-Adjusted Indicators

There is a big difference between Royal Stock performing well and Royal Caribbean 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 Royal Caribbean'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
CCL	1.82	0.61	0.47	0.41	0.89	(2.57)	6.63	(2.41)	11.19
ABNB	1.38	0.14	0.06	0.23	2.09	(1.40)	3.64	(1.99)	13.83
EXPE	1.33	0.34	0.29	0.36	0.90	(1.65)	3.76	(1.76)	7.76
BKNG	0.95	0.41	0.38	0.70	0.51	(1.22)	2.23	(1.48)	6.36
NCLH	2.14	0.61	0.44	0.40	1.15	(2.93)	6.29	(2.27)	13.47
TRIP	1.88	(0.21)	0.00	(0.04)	0.00	0.00	3.08	(4.39)	16.78

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