Birks Correlations

BGI Stock

USD 1.17 0.06 4.88%

The current 90-days correlation between Birks Group and Envela Corp is -0.04 (i.e., Good diversification). The correlation of Birks 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.

Birks Correlation With Market

Average diversification

The correlation between Birks Group and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Birks Group 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 Birks Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Birks Stock

0.68	M	Macys Inc	Pair Corr
0.66	W	Wayfair	Pair Corr
0.77	FL	Foot Locker Sell-off Trend	Pair Corr
0.82	LE	Lands End Earnings Call This Week	Pair Corr
0.7	RH	RH Earnings Call This Week	Pair Corr
0.67	DLTH	Duluth Holdings	Pair Corr
0.69	DXLG	Destination XL Group	Pair Corr
0.82	VSCO	Victorias Secret	Pair Corr
0.74	EDUC	Educational Development	Pair Corr
0.65	ETSY	Etsy Inc	Pair Corr
0.79	WINA	Winmark	Pair Corr
0.71	EVGO	Evgo Inc	Pair Corr
0.85	WOOF	Pet Acquisition LLC	Pair Corr
0.77	FIVE	Five Below	Pair Corr
0.85	AEO	American Eagle Outfitters	Pair Corr
0.65	AKA	AKA Brands Holding	Pair Corr
0.78	ANF	Abercrombie Fitch	Pair Corr
0.71	ASO	Academy Sports Outdoors	Pair Corr
0.81	AZI	Autozi Internet Tech	Pair Corr
0.69	BBW	Build A Bear	Pair Corr
0.87	BKE	Buckle Inc	Pair Corr
0.77	CAL	Continental	Pair Corr

Moving against Birks Stock

0.7	VIPS	Vipshop Holdings	Pair Corr
0.55	JD	JD Inc Adr Sell-off Trend	Pair Corr
0.51	EBAY	eBay Inc	Pair Corr
0.7	AZO	AutoZone	Pair Corr

Related Correlations Analysis

	MOV	MYTE	ELA	TPR	CPRI	LANV	FOSL	SIG	CTHR	BRLT
MOV		-0.11	0.77	-0.08	0.13	-0.24	0.67	0.62	0.63	0.54	MOV
MYTE	-0.11		-0.39	0.95	0.15	-0.23	-0.5	-0.78	-0.21	-0.69	MYTE
ELA	0.77	-0.39		-0.38	0.36	-0.03	0.83	0.75	0.83	0.83	ELA
TPR	-0.08	0.95	-0.38		0.09	-0.26	-0.48	-0.76	-0.23	-0.7	TPR
CPRI	0.13	0.15	0.36	0.09		0.12	0.22	-0.09	0.56	0.26	CPRI
LANV	-0.24	-0.23	-0.03	-0.26	0.12		-0.12	0.04	-0.07	0.19	LANV
FOSL	0.67	-0.5	0.83	-0.48	0.22	-0.12		0.76	0.68	0.8	FOSL
SIG	0.62	-0.78	0.75	-0.76	-0.09	0.04	0.76		0.46	0.83	SIG
CTHR	0.63	-0.21	0.83	-0.23	0.56	-0.07	0.68	0.46		0.67	CTHR
BRLT	0.54	-0.69	0.83	-0.7	0.26	0.19	0.8	0.83	0.67		BRLT
	MOV	MYTE	ELA	TPR	CPRI	LANV	FOSL	SIG	CTHR	BRLT

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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

TPR	+ 0.95	MYTE
FOSL	+ 0.83	ELA
CTHR	+ 0.83	ELA
BRLT	+ 0.83	ELA
BRLT	+ 0.83	SIG
BRLT	+ 0.8	FOSL

High negative correlations

SIG	- 0.78	MYTE
SIG	- 0.76	TPR
BRLT	- 0.7	TPR
BRLT	- 0.69	MYTE
FOSL	- 0.5	MYTE
FOSL	- 0.48	TPR

Risk-Adjusted Indicators

There is a big difference between Birks Stock performing well and Birks 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 Birks' 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
MOV	1.34	(0.13)	0.00	(0.25)	0.00	0.00	2.77	(2.78)	7.03
MYTE	3.21	0.40	0.12	0.30	3.07	(3.96)	6.87	(5.70)	30.56
ELA	1.79	(0.34)	0.00	(0.98)	0.00	0.00	3.45	(3.97)	13.23
TPR	1.80	0.34	0.15	0.26	2.14	(1.90)	3.01	(3.60)	17.66
CPRI	2.36	(0.09)	0.00	0.48	0.00	0.00	4.97	(4.43)	20.30
LANV	4.86	0.56	0.12	(9.09)	5.01	(5.92)	13.21	(10.67)	27.75
FOSL	3.98	(0.46)	0.00	(0.99)	0.00	0.00	6.79	(8.39)	36.28
SIG	2.34	(0.68)	0.00	(0.75)	0.00	0.00	3.30	(4.23)	24.56
CTHR	4.10	(0.07)	0.00	(0.19)	0.00	0.00	9.77	(8.43)	45.55
BRLT	3.14	(0.34)	0.00	(0.45)	0.00	0.00	5.59	(7.10)	32.30

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