Shoe Carnival Correlations

SCVL Stock

USD 20.36 0.19 0.92%

The current 90-days correlation between Shoe Carnival and Oxford Industries is 0.4 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shoe Carnival moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shoe Carnival moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shoe Carnival Correlation With Market

Very poor diversification

The correlation between Shoe Carnival and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shoe Carnival and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Shoe Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shoe Carnival. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Shoe Stock

0.76	F	Ford Motor	Pair Corr
0.74	ABEV	Ambev SA ADR Earnings Call This Week	Pair Corr
0.77	OBYCF	Obayashi Earnings Call Today	Pair Corr
0.68	BNKHF	BOC Hong Kong	Pair Corr
0.71	RILYL	B Riley Financial	Pair Corr
0.7	SECVY	Seche Environnement	Pair Corr

Moving against Shoe Stock

0.75	GRAB	Grab Holdings	Pair Corr
0.73	PMV	Premier Investments	Pair Corr
0.63	TDUP	ThredUp	Pair Corr
0.62	STP	Step One Clothing	Pair Corr
0.61	NIO	Nio Class A Aggressive Push	Pair Corr

Related Correlations Analysis

	OXM	SFIX	LEGH	CAL	BALY	HZO	BLMN	CPS	MLR	GDEN
OXM		0.21	0.49	0.55	-0.18	0.53	0.54	0.1	0.51	-0.09	OXM
SFIX	0.21		0.16	0.81	-0.27	0.47	0.33	0.57	0.19	-0.1	SFIX
LEGH	0.49	0.16		0.28	-0.05	0.54	0.54	-0.06	0.66	-0.49	LEGH
CAL	0.55	0.81	0.28		-0.31	0.62	0.48	0.63	0.42	-0.06	CAL
BALY	-0.18	-0.27	-0.05	-0.31		-0.6	0.08	-0.33	-0.54	-0.07	BALY
HZO	0.53	0.47	0.54	0.62	-0.6		0.35	0.48	0.87	-0.15	HZO
BLMN	0.54	0.33	0.54	0.48	0.08	0.35		0.15	0.23	-0.07	BLMN
CPS	0.1	0.57	-0.06	0.63	-0.33	0.48	0.15		0.32	0.05	CPS
MLR	0.51	0.19	0.66	0.42	-0.54	0.87	0.23	0.32		-0.25	MLR
GDEN	-0.09	-0.1	-0.49	-0.06	-0.07	-0.15	-0.07	0.05	-0.25		GDEN
	OXM	SFIX	LEGH	CAL	BALY	HZO	BLMN	CPS	MLR	GDEN

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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

MLR	+ 0.87	HZO
CAL	+ 0.81	SFIX
MLR	+ 0.66	LEGH
CPS	+ 0.63	CAL
HZO	+ 0.62	CAL
CPS	+ 0.57	SFIX

High negative correlations

HZO	- 0.6	BALY
MLR	- 0.54	BALY
GDEN	- 0.49	LEGH
CPS	- 0.33	BALY
BALY	- 0.31	CAL
BALY	- 0.27	SFIX

Risk-Adjusted Indicators

There is a big difference between Shoe Stock performing well and Shoe Carnival 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 Shoe Carnival'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
OXM	3.22	0.14	0.03	0.19	4.89	(3.28)	7.88	(5.59)	30.64
SFIX	2.84	(0.05)	0.00	0.05	3.35	(3.11)	6.80	(6.20)	19.91
LEGH	1.63	(0.14)	0.00	(0.08)	0.00	0.00	2.95	(2.89)	10.51
CAL	2.72	0.12	0.07	0.13	3.22	(2.96)	8.13	(5.59)	19.93
BALY	2.86	(0.32)	0.00	(0.14)	0.00	0.00	5.47	(5.51)	16.79
HZO	2.62	0.18	0.10	0.16	2.59	(3.67)	7.45	(4.50)	16.81
BLMN	3.17	0.01	0.01	0.08	4.41	(3.32)	6.80	(7.22)	22.59
CPS	2.16	0.16	0.07	0.20	2.44	(2.30)	5.82	(4.76)	13.59
MLR	1.36	0.09	0.05	0.15	1.67	(1.44)	2.66	(2.49)	7.96
GDEN	1.63	0.59	0.44	(1.67)	0.61	(2.34)	2.51	(1.64)	37.11

Shoe Carnival Corporate Management

Carl Scibetta	Executive VP and General Merchandise Manager	Profile
Patrick Edwards	Controller VP	Profile
Deborah Hannah	Senior Communications	Profile
Clint Pierce	Senior Manager	Profile

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