Wayfair Correlations

W Stock

USD 102.22 1.51 1.50%

The correlation of Wayfair 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.

Wayfair Correlation With Market

Weak diversification

The correlation between Wayfair and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wayfair and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Wayfair Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wayfair. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

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

Moving together with Wayfair Stock

0.64	HVT	Haverty Furniture	Pair Corr
0.67	AMZN	Amazon Inc	Pair Corr
0.75	LSBK	Lake Shore Bancorp	Pair Corr
0.85	LVS	Las Vegas Sands	Pair Corr
0.67	KALMF	Kalgoorlie Gold Mining	Pair Corr
0.66	U07265AG3	BAYNGR 4625 25	Pair Corr
0.77	LMND	Lemonade	Pair Corr

Moving against Wayfair Stock

0.76	ADH	Adairs	Pair Corr
0.71	002818	Chengdu Fusen Noble	Pair Corr
0.58	JD	JD Inc Adr	Pair Corr
0.56	RH	RH	Pair Corr
0.48	HTLM	HomesToLife	Pair Corr
0.32	SNBR	Sleep Number Corp	Pair Corr
0.67	BLSTF	Blackstone Minerals	Pair Corr
0.54	BCEKF	Bear Creek Mining	Pair Corr
0.59	ICCT	iCoreConnect Common stock	Pair Corr
0.55	VTMLF	Venture Minerals	Pair Corr

Related Correlations Analysis

	CHWY	DPZ	MGA	DKNG	TOL	WYNN	H	GME	CART	BBY
CHWY		0.15	-0.68	0.54	-0.1	-0.07	-0.59	0.79	-0.4	0.12	CHWY
DPZ	0.15		0.44	0.72	0.75	0.52	0.42	0.45	0.58	-0.4	DPZ
MGA	-0.68	0.44		-0.03	0.46	0.44	0.74	-0.36	0.69	-0.56	MGA
DKNG	0.54	0.72	-0.03		0.46	0.35	-0.03	0.71	0.34	-0.31	DKNG
TOL	-0.1	0.75	0.46	0.46		0.65	0.42	0.34	0.36	-0.01	TOL
WYNN	-0.07	0.52	0.44	0.35	0.65		0.36	0.35	0.28	-0.18	WYNN
H	-0.59	0.42	0.74	-0.03	0.42	0.36		-0.47	0.73	-0.45	H
GME	0.79	0.45	-0.36	0.71	0.34	0.35	-0.47		-0.22	0.07	GME
CART	-0.4	0.58	0.69	0.34	0.36	0.28	0.73	-0.22		-0.69	CART
BBY	0.12	-0.4	-0.56	-0.31	-0.01	-0.18	-0.45	0.07	-0.69		BBY
	CHWY	DPZ	MGA	DKNG	TOL	WYNN	H	GME	CART	BBY

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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

GME	+ 0.79	CHWY
TOL	+ 0.75	DPZ
H	+ 0.74	MGA
CART	+ 0.73	H
DKNG	+ 0.72	DPZ
GME	+ 0.71	DKNG

High negative correlations

BBY	- 0.69	CART
MGA	- 0.68	CHWY
H	- 0.59	CHWY
BBY	- 0.56	MGA
GME	- 0.47	H
BBY	- 0.45	H

Risk-Adjusted Indicators

There is a big difference between Wayfair Stock performing well and Wayfair 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 Wayfair'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
CHWY	1.57	(0.18)	0.00	0.73	0.00	0.00	3.17	(3.39)	8.89
DPZ	1.06	(0.02)	(0.06)	0.02	1.11	(1.27)	3.07	(1.64)	6.38
MGA	1.26	0.19	0.10	0.26	1.48	(1.28)	3.67	(2.63)	9.62
DKNG	2.38	(0.36)	0.00	(0.22)	0.00	0.00	3.59	(5.99)	14.42
TOL	1.23	(0.09)	(0.03)	0.02	1.58	(1.31)	4.26	(2.72)	8.50
WYNN	1.88	(0.04)	(0.03)	0.01	2.38	(2.08)	3.43	(3.66)	10.20
H	1.44	0.18	0.11	0.22	1.36	(1.57)	4.14	(2.45)	9.14
GME	1.71	(0.38)	0.00	(0.38)	0.00	0.00	4.05	(3.42)	11.31
CART	1.81	0.11	0.02	0.37	2.77	(1.71)	4.33	(3.11)	11.01
BBY	1.45	(0.20)	0.00	(0.03)	0.00	0.00	2.65	(2.63)	13.01

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