TEXAS ROADHOUSE Correlations

ROW Stock

EUR 192.15 6.00 3.22%

The current 90-days correlation between TEXAS ROADHOUSE and Superior Plus Corp is -0.23 (i.e., Very good diversification). The correlation of TEXAS ROADHOUSE 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.

TEXAS ROADHOUSE Correlation With Market

Modest diversification

The correlation between TEXAS ROADHOUSE and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TEXAS ROADHOUSE and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TEXAS ROADHOUSE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TEXAS ROADHOUSE when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back TEXAS ROADHOUSE - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling TEXAS ROADHOUSE to buy it.

Moving together with TEXAS Stock

0.75	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.91	AMZ	Amazon Inc	Pair Corr
0.94	ADH2	Air Canada	Pair Corr

Moving against TEXAS Stock

0.77	CXT	Carmat SA	Pair Corr
0.57	MTO	METTLER TOLEDO INTL	Pair Corr
0.54	MTO	METTLER TOLEDO INTL	Pair Corr
0.54	MTO	Mitie Group PLC	Pair Corr
0.54	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	APC	APC	8SP	2DG	INL	MEL	RDO	N4Q1	P5IB
APC		0.98	-0.57	-0.73	0.69	0.64	-0.21	0.58	0.18	APC
APC	0.98		-0.59	-0.72	0.69	0.64	-0.21	0.62	0.16	APC
8SP	-0.57	-0.59		0.75	-0.71	-0.83	0.24	-0.34	-0.09	8SP
2DG	-0.73	-0.72	0.75		-0.81	-0.81	0.5	-0.51	-0.16	2DG
INL	0.69	0.69	-0.71	-0.81		0.82	-0.43	0.7	0.21	INL
MEL	0.64	0.64	-0.83	-0.81	0.82		-0.31	0.39	0.02	MEL
RDO	-0.21	-0.21	0.24	0.5	-0.43	-0.31		-0.4	-0.01	RDO
N4Q1	0.58	0.62	-0.34	-0.51	0.7	0.39	-0.4		0.47	N4Q1
P5IB	0.18	0.16	-0.09	-0.16	0.21	0.02	-0.01	0.47		P5IB
	APC	APC	8SP	2DG	INL	MEL	RDO	N4Q1	P5IB

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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

APC	+ 0.98	APC
MEL	+ 0.82	INL
2DG	+ 0.75	8SP
N4Q1	+ 0.7	INL
INL	+ 0.69	APC
INL	+ 0.69	APC

High negative correlations

MEL	- 0.83	8SP
MEL	- 0.81	2DG
INL	- 0.81	2DG
2DG	- 0.73	APC
2DG	- 0.72	APC
INL	- 0.71	8SP

Risk-Adjusted Indicators

There is a big difference between TEXAS Stock performing well and TEXAS ROADHOUSE 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 TEXAS ROADHOUSE'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
APC	1.11	0.07	0.02	0.22	1.45	(1.15)	2.24	(2.65)	9.79
APC	1.19	0.06	0.02	0.21	1.23	(1.51)	2.96	(2.05)	8.21
8SP	2.05	(0.14)	0.00	0.38	0.00	0.00	3.36	(4.74)	20.22
2DG	4.15	(1.33)	0.00	(2.07)	0.00	0.00	7.14	(8.57)	52.42
INL	2.49	0.22	0.12	0.24	2.26	(3.25)	6.80	(3.69)	13.89
MEL	0.99	0.08	(0.01)	0.58	1.15	(1.14)	2.53	(1.58)	6.59
RDO	1.36	(0.19)	0.00	2.76	0.00	0.00	3.07	(4.76)	11.14
N4Q1	1.35	0.05	0.00	0.23	1.69	(1.97)	3.88	(3.10)	9.39
P5IB	10.29	2.14	0.09	(0.32)	11.88	(14.62)	21.05	(16.67)	129.48

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Our tools can tell you how much better you can do entering a position in TEXAS ROADHOUSE without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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