Signet Jewelers Correlations

SIG Stock

USD 57.48 0.89 1.57%

The current 90-days correlation between Signet Jewelers and Tapestry is 0.02 (i.e., Significant diversification). The correlation of Signet Jewelers 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.

Signet Jewelers Correlation With Market

Significant diversification

The correlation between Signet Jewelers and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Signet Jewelers and DJI in the same portfolio, assuming nothing else is changed.

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

For more detail on how to invest in Signet Stock please use our How to Invest in Signet Jewelers guide.

Moving together with Signet Stock

0.65	DIBS	1StdibsCom	Pair Corr
0.76	BQ	Boqii Holding Limited	Pair Corr
0.83	FL	Foot Locker	Pair Corr
0.8	LE	Lands End	Pair Corr
0.85	DLTH	Duluth Holdings	Pair Corr
0.74	EDUC	Educational Development	Pair Corr
0.68	EVGO	Evgo Inc Downward Rally	Pair Corr
0.73	AEO	American Eagle Outfitters	Pair Corr
0.63	AKA	AKA Brands Holding	Pair Corr
0.73	BBY	Best Buy	Pair Corr

Moving against Signet Stock

0.72	RH	RH	Pair Corr
0.6	WRBY	Warby Parker Downward Rally	Pair Corr
0.36	AN	AutoNation	Pair Corr
0.34	VSCO	Victorias Secret	Pair Corr
0.32	JL	J Long Group	Pair Corr
0.69	FNKO	Funko Inc	Pair Corr
0.69	DKS	Dicks Sporting Goods	Pair Corr
0.64	DDS	Dillards	Pair Corr
0.61	AAP	Advance Auto Parts	Pair Corr
0.55	BBW	Build A Bear	Pair Corr
0.55	ELA	Envela Corp	Pair Corr
0.5	ASO	Academy Sports Outdoors	Pair Corr
0.49	AZO	AutoZone	Pair Corr
0.41	FIVE	Five Below	Pair Corr
0.41	BKE	Buckle Inc	Pair Corr

Related Correlations Analysis

	TPR	MOV	LANV	REAL	FOSL	CPRI	MYTE	CTHR	ELA
TPR		0.59	0.5	0.89	0.82	-0.56	0.38	0.18	0.92	TPR
MOV	0.59		0.24	0.59	0.76	-0.29	-0.02	0.08	0.7	MOV
LANV	0.5	0.24		0.68	0.54	-0.16	0.39	0.17	0.55	LANV
REAL	0.89	0.59	0.68		0.82	-0.38	0.47	0.34	0.89	REAL
FOSL	0.82	0.76	0.54	0.82		-0.37	0.24	0.12	0.82	FOSL
CPRI	-0.56	-0.29	-0.16	-0.38	-0.37		0.25	0.24	-0.51	CPRI
MYTE	0.38	-0.02	0.39	0.47	0.24	0.25		0.57	0.29	MYTE
CTHR	0.18	0.08	0.17	0.34	0.12	0.24	0.57		0.25	CTHR
ELA	0.92	0.7	0.55	0.89	0.82	-0.51	0.29	0.25		ELA
	TPR	MOV	LANV	REAL	FOSL	CPRI	MYTE	CTHR	ELA

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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

ELA	+ 0.92	TPR
REAL	+ 0.89	TPR
ELA	+ 0.89	REAL
FOSL	+ 0.82	TPR
FOSL	+ 0.82	REAL
ELA	+ 0.82	FOSL

High negative correlations

CPRI	- 0.56	TPR
ELA	- 0.51	CPRI
CPRI	- 0.38	REAL
CPRI	- 0.37	FOSL
CPRI	- 0.29	MOV
CPRI	- 0.16	LANV

Risk-Adjusted Indicators

There is a big difference between Signet Stock performing well and Signet Jewelers 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 Signet Jewelers' 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
TPR	1.79	0.70	0.57	1.14	0.72	(2.51)	3.68	(1.95)	16.37
MOV	1.35	0.07	0.04	0.15	1.47	(1.49)	2.75	(2.31)	8.10
LANV	5.23	0.48	0.07	(0.58)	6.03	(6.04)	13.92	(11.18)	29.32
REAL	4.25	1.79	0.42	1.40	3.12	(5.39)	12.45	(5.07)	49.10
FOSL	4.84	0.94	0.18	(7.37)	4.43	(5.92)	8.62	(8.46)	72.60
CPRI	2.83	(0.57)	0.00	0.63	0.00	0.00	6.04	(4.64)	49.04
MYTE	2.91	0.34	0.11	0.47	2.95	(3.92)	10.50	(5.59)	20.82
CTHR	3.51	0.04	0.01	0.05	3.83	(4.90)	9.09	(7.24)	45.55
ELA	1.76	0.48	0.24	(4.34)	1.40	(2.27)	5.25	(3.16)	14.14

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