Sleep Number Correlations

SNBR Stock

USD 17.99 0.12 0.67%

The current 90-days correlation between Sleep Number Corp and La Z Boy Incorporated is 0.33 (i.e., Weak diversification). The correlation of Sleep Number 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Sleep Number Correlation With Market

Weak diversification

The correlation between Sleep Number Corp and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sleep Number Corp 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 Sleep Number Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Sleep Stock

0.62	LZB	La Z Boy	Pair Corr
0.62	NTZ	Natuzzi SpA	Pair Corr
0.69	WHR	Whirlpool	Pair Corr

Moving against Sleep Stock

0.39	BBY	Best Buy	Pair Corr
0.34	MHK	Mohawk Industries Earnings Call This Week	Pair Corr
0.55	PNST	Pinstripes Holdings	Pair Corr
0.47	WEN	The Wendys	Pair Corr
0.39	PZZA	Papa Johns International	Pair Corr
0.37	CHSN	Chanson International	Pair Corr

Related Correlations Analysis

	PRPL	MHK	LZB	LEG	BSET	ETD	NTZ	FLXS	KBAL	COOK
PRPL		0.0	0.47	0.11	-0.05	0.28	0.57	-0.27	-0.02	-0.06	PRPL
MHK	0.0		-0.34	0.87	0.64	0.38	-0.37	0.44	-0.46	0.75	MHK
LZB	0.47	-0.34		-0.28	0.09	0.45	0.64	-0.18	0.34	-0.3	LZB
LEG	0.11	0.87	-0.28		0.69	0.59	-0.27	0.57	-0.25	0.91	LEG
BSET	-0.05	0.64	0.09	0.69		0.56	-0.07	0.52	0.06	0.7	BSET
ETD	0.28	0.38	0.45	0.59	0.56		0.12	0.59	-0.05	0.62	ETD
NTZ	0.57	-0.37	0.64	-0.27	-0.07	0.12		-0.38	0.19	-0.33	NTZ
FLXS	-0.27	0.44	-0.18	0.57	0.52	0.59	-0.38		-0.12	0.82	FLXS
KBAL	-0.02	-0.46	0.34	-0.25	0.06	-0.05	0.19	-0.12		-0.19	KBAL
COOK	-0.06	0.75	-0.3	0.91	0.7	0.62	-0.33	0.82	-0.19		COOK
	PRPL	MHK	LZB	LEG	BSET	ETD	NTZ	FLXS	KBAL	COOK

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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

COOK	+ 0.91	LEG
LEG	+ 0.87	MHK
COOK	+ 0.82	FLXS
COOK	+ 0.75	MHK
COOK	+ 0.7	BSET
BSET	+ 0.69	LEG

High negative correlations

KBAL	- 0.46	MHK
FLXS	- 0.38	NTZ
NTZ	- 0.37	MHK
LZB	- 0.34	MHK
COOK	- 0.33	NTZ
COOK	- 0.3	LZB

Risk-Adjusted Indicators

There is a big difference between Sleep Stock performing well and Sleep Number 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 Sleep Number'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
PRPL	3.33	0.52	0.09	(2.45)	3.57	(4.17)	6.49	(5.62)	20.64
MHK	1.56	(0.30)	0.00	(0.43)	0.00	0.00	3.57	(3.52)	13.93
LZB	1.09	0.25	0.14	1.45	1.09	(1.20)	2.07	(2.06)	7.54
LEG	1.81	(0.24)	0.00	(0.24)	0.00	0.00	3.67	(4.20)	18.18
BSET	1.32	0.01	(0.03)	0.11	1.73	(1.49)	3.38	(2.79)	9.95
ETD	1.12	(0.04)	0.00	(0.51)	0.00	0.00	2.12	(2.19)	7.79
NTZ	3.55	0.14	0.03	0.17	4.20	(4.16)	8.75	(6.78)	24.28
FLXS	1.67	(0.31)	0.00	(0.16)	0.00	0.00	2.85	(3.96)	13.66
KBAL	2.54	1.19	1.28	1.21	0.00	(3.12)	1.08	(0.89)	87.83
COOK	2.09	(0.31)	0.00	(0.28)	0.00	0.00	4.44	(5.02)	18.48

Sleep Number Corporate Executives

Elected by the shareholders, the Sleep Number's board of directors comprises two types of representatives: Sleep Number inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sleep. The board's role is to monitor Sleep Number's management team and ensure that shareholders' interests are well served. Sleep Number's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sleep Number's outside directors are responsible for providing unbiased perspectives on the board's policies.

Francis Lee

Executive CFO

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