Academy Sports Correlations

ASO Stock

USD 48.85 0.84 1.75%

The current 90-days correlation between Academy Sports Outdoors and Williams Sonoma is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Academy Sports moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Academy Sports Outdoors moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Academy Sports Correlation With Market

Average diversification

The correlation between Academy Sports Outdoors and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Academy Sports Outdoors and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Academy Sports Outdoors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Academy Stock

0.63	YJ	Yunji Inc	Pair Corr
0.74	BBY	Best Buy	Pair Corr
0.64	GPC	Genuine Parts	Pair Corr
0.82	HVT	Haverty Furniture	Pair Corr
0.76	NEGG	Newegg Commerce	Pair Corr
0.74	ARHS	Arhaus Inc	Pair Corr
0.68	GV	Visionary Education	Pair Corr
0.65	DOOO	BRP Inc Earnings Call Today	Pair Corr
0.8	WING	Wingstop	Pair Corr

Moving against Academy Stock

0.74	GME	GameStop Corp Earnings Call This Week	Pair Corr
0.69	BH	Biglari Holdings	Pair Corr
0.65	JFBR	Jeffs Brands	Pair Corr
0.62	ABG	Asbury Automotive	Pair Corr
0.59	GLBE	Global E Online	Pair Corr
0.54	WEYS	Weyco Group	Pair Corr
0.43	GAP	Gap, Symbol Change	Pair Corr
0.37	RERE	ATRenew Inc DRC Buyout Trend	Pair Corr
0.33	EYE	National Vision Holdings	Pair Corr
0.31	HD	Home Depot Sell-off Trend	Pair Corr
0.66	BYD	Boyd Gaming	Pair Corr
0.64	DOGZ	Dogness International Upward Rally	Pair Corr
0.51	FOSL	Fossil Group	Pair Corr
0.46	ZK	ZEEKR Intelligent	Pair Corr
0.44	ADT	ADT Inc	Pair Corr
0.35	SG	Sweetgreen	Pair Corr
0.34	FORD	Forward Industries	Pair Corr
0.33	CMG	Chipotle Mexican Grill Aggressive Push	Pair Corr

Related Correlations Analysis

	WSM	AZO	ULTA	RH	DKS	AAP	TSCO	ORLY	FIVE
WSM		-0.22	-0.13	0.63	0.04	0.06	0.31	0.13	0.31	WSM
AZO	-0.22		-0.13	-0.2	0.35	0.42	0.26	0.32	-0.45	AZO
ULTA	-0.13	-0.13		0.17	0.01	-0.02	0.01	-0.33	0.52	ULTA
RH	0.63	-0.2	0.17		-0.34	-0.23	0.44	0.55	0.62	RH
DKS	0.04	0.35	0.01	-0.34		0.8	-0.08	-0.45	-0.26	DKS
AAP	0.06	0.42	-0.02	-0.23	0.8		-0.19	-0.21	-0.35	AAP
TSCO	0.31	0.26	0.01	0.44	-0.08	-0.19		0.33	0.34	TSCO
ORLY	0.13	0.32	-0.33	0.55	-0.45	-0.21	0.33		-0.07	ORLY
FIVE	0.31	-0.45	0.52	0.62	-0.26	-0.35	0.34	-0.07		FIVE
	WSM	AZO	ULTA	RH	DKS	AAP	TSCO	ORLY	FIVE

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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

AAP	+ 0.8	DKS
RH	+ 0.63	WSM
FIVE	+ 0.62	RH
ORLY	+ 0.55	RH
FIVE	+ 0.52	ULTA
TSCO	+ 0.44	RH

High negative correlations

ORLY	- 0.45	DKS
FIVE	- 0.45	AZO
FIVE	- 0.35	AAP
DKS	- 0.34	RH
ORLY	- 0.33	ULTA
FIVE	- 0.26	DKS

Risk-Adjusted Indicators

There is a big difference between Academy Stock performing well and Academy Sports 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 Academy Sports' 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
WSM	2.00	0.43	0.16	2.93	1.73	(2.42)	3.41	(3.07)	29.00
AZO	1.05	(0.09)	(0.11)	(0.01)	1.19	(1.09)	2.14	(1.68)	6.36
ULTA	1.41	(0.13)	0.00	(0.08)	0.00	0.00	2.89	(3.24)	8.40
RH	2.22	0.42	0.22	0.53	1.62	(2.88)	4.95	(2.84)	29.32
DKS	1.45	(0.23)	0.00	(0.18)	0.00	0.00	2.97	(3.16)	7.73
AAP	2.35	(0.28)	0.00	(0.10)	0.00	0.00	5.43	(4.63)	15.49
TSCO	1.12	(0.06)	(0.04)	0.06	1.55	(1.14)	2.16	(2.25)	9.44
ORLY	0.83	0.05	0.03	0.19	0.84	(0.86)	1.40	(1.55)	7.77
FIVE	2.56	0.18	0.00	(0.33)	2.92	(2.87)	5.40	(4.34)	16.58

Academy Sports Corporate Management

Rene Casares	General VP	Profile
Eric Friederich	Senior Operations	Profile
Matthew McCabe	Executive Officer	Profile
Matt Hodges	Vice Relations	Profile
William Ennis	Executive Officer	Profile

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