Shake Shack Correlations

SHAK Stock

USD 93.56 0.38 0.41%

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

Shake Shack Correlation With Market

Very weak diversification

The correlation between Shake Shack and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shake Shack and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Shake Stock

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

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

Moving together with Shake Stock

0.78	BH	Biglari Holdings Earnings Call This Week	Pair Corr
0.63	6CF	Collins Foods Limited	Pair Corr
0.77	YNGA	Young CoS Brewery	Pair Corr
0.75	BBT	Betr Entertainment Earnings Call This Week	Pair Corr
0.78	CF2	The Cheesecake Factory	Pair Corr
0.87	ROW	Texas Roadhouse	Pair Corr

Moving against Shake Stock

0.63	EM	Smart Share Global	Pair Corr
0.57	DNUT	Krispy Kreme	Pair Corr
0.51	IH	Ihuman Inc	Pair Corr
0.45	RFG	Retail Food Group	Pair Corr
0.43	DKNG	DraftKings	Pair Corr
0.4	VENU	Venu Holding	Pair Corr
0.6	CHR	Churchill Downs Earnings Call This Week	Pair Corr
0.56	6GI0	ENTAIN PLC UNSPADR1	Pair Corr
0.49	EMH	pferdewettende AG	Pair Corr
0.45	MRU3	Rich Goldman Holdings	Pair Corr
0.31	2DJ	DYNAM JAPAN HOLDINGS	Pair Corr
0.6	DPZ	Dominos Pizza Common Sell-off Trend	Pair Corr
0.59	WYNN	Wynn Resorts Limited	Pair Corr
0.56	FLUT	Flutter Entertainment plc Earnings Call This Week	Pair Corr
0.33	LIL3	PARADISE ENTERT HD	Pair Corr

Related Correlations Analysis

	HGV	SON	PII	SKY	TNL	ASO	CAKE	MHO	RUSHA	PVH
HGV		0.79	0.68	0.69	0.96	0.89	0.88	0.58	0.75	-0.58	HGV
SON	0.79		0.3	0.61	0.67	0.82	0.94	0.71	0.92	-0.59	SON
PII	0.68	0.3		0.6	0.7	0.66	0.48	0.32	0.32	-0.29	PII
SKY	0.69	0.61	0.6		0.66	0.62	0.59	0.63	0.49	-0.25	SKY
TNL	0.96	0.67	0.7	0.66		0.83	0.76	0.49	0.64	-0.47	TNL
ASO	0.89	0.82	0.66	0.62	0.83		0.89	0.64	0.85	-0.59	ASO
CAKE	0.88	0.94	0.48	0.59	0.76	0.89		0.65	0.9	-0.72	CAKE
MHO	0.58	0.71	0.32	0.63	0.49	0.64	0.65		0.76	-0.07	MHO
RUSHA	0.75	0.92	0.32	0.49	0.64	0.85	0.9	0.76		-0.55	RUSHA
PVH	-0.58	-0.59	-0.29	-0.25	-0.47	-0.59	-0.72	-0.07	-0.55		PVH
	HGV	SON	PII	SKY	TNL	ASO	CAKE	MHO	RUSHA	PVH

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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

TNL	+ 0.96	HGV
CAKE	+ 0.94	SON
RUSHA	+ 0.92	SON
RUSHA	+ 0.9	CAKE
ASO	+ 0.89	HGV
CAKE	+ 0.89	ASO

High negative correlations

PVH	- 0.72	CAKE
PVH	- 0.59	ASO
PVH	- 0.59	SON
PVH	- 0.58	HGV
PVH	- 0.55	RUSHA
PVH	- 0.47	TNL

Risk-Adjusted Indicators

There is a big difference between Shake Stock performing well and Shake Shack 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 Shake Shack'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
HGV	1.61	0.20	0.15	0.18	1.44	(1.84)	3.38	(2.67)	9.78
SON	1.18	0.43	0.34	0.51	0.75	(1.42)	3.22	(1.66)	12.48
PII	1.74	(0.05)	0.00	0.04	1.81	(2.00)	4.43	(2.78)	10.57
SKY	1.76	0.21	0.10	0.24	1.86	(2.00)	4.49	(3.16)	13.08
TNL	1.31	0.19	0.15	0.18	1.24	(1.46)	3.26	(2.43)	8.90
ASO	2.31	0.32	0.16	0.24	2.02	(2.59)	5.20	(3.51)	12.70
CAKE	1.81	0.44	0.22	0.39	1.85	(2.07)	4.44	(2.77)	9.92
MHO	1.56	0.09	0.06	0.14	1.52	(1.83)	4.51	(2.13)	10.17
RUSHA	1.41	0.64	0.40	0.70	0.91	(1.67)	4.15	(2.20)	10.82
PVH	1.93	(0.21)	0.00	(0.05)	0.00	0.00	3.59	(4.38)	17.23

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