Birks Correlations

BGI Stock

USD 1.18 0.02 1.67%

The current 90-days correlation between Birks Group and Envela Corp is -0.13 (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

Good diversification

The correlation between Birks Group and DJI is -0.06 (i.e., Good 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

0.62	CAL	Continental	Pair Corr
0.65	F	Ford Motor Earnings Call Tomorrow	Pair Corr
0.64	GM	General Motors	Pair Corr
0.8	SDA	SunCar Technology	Pair Corr

Moving against Birks Stock

0.62	IH	Ihuman Inc	Pair Corr
0.57	DRI	Darden Restaurants	Pair Corr
0.53	FNKO	Funko Inc Earnings Call Next Week	Pair Corr
0.42	DPZ	Dominos Pizza Common	Pair Corr
0.34	EYE	National Vision Holdings	Pair Corr
0.73	MAT	Mattel Inc	Pair Corr
0.68	JAKK	JAKKS Pacific Earnings Call Tomorrow	Pair Corr
0.65	PLYA	Playa Hotels Resorts	Pair Corr
0.64	LTH	Life Time Group	Pair Corr
0.59	YUM	Yum Brands	Pair Corr
0.53	MCD	McDonalds	Pair Corr
0.47	OSW	OneSpaWorld Holdings Earnings Call Tomorrow	Pair Corr
0.44	AFYA	Afya	Pair Corr
0.42	XPOF	Xponential Fitness Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	MOV	MYTE	ELA	TPR	CPRI	LANV	FOSL	SIG	CTHR	BRLT
MOV		-0.09	0.36	0.0	0.0	0.07	0.61	0.22	-0.15	0.36	MOV
MYTE	-0.09		-0.15	0.94	0.32	0.19	-0.05	-0.85	0.29	-0.57	MYTE
ELA	0.36	-0.15		-0.09	0.1	0.63	0.59	-0.06	0.46	0.69	ELA
TPR	0.0	0.94	-0.09		0.34	0.23	0.12	-0.87	0.25	-0.51	TPR
CPRI	0.0	0.32	0.1	0.34		0.31	0.24	-0.48	0.34	0.06	CPRI
LANV	0.07	0.19	0.63	0.23	0.31		0.32	-0.43	0.53	0.37	LANV
FOSL	0.61	-0.05	0.59	0.12	0.24	0.32		-0.13	0.1	0.51	FOSL
SIG	0.22	-0.85	-0.06	-0.87	-0.48	-0.43	-0.13		-0.49	0.38	SIG
CTHR	-0.15	0.29	0.46	0.25	0.34	0.53	0.1	-0.49		0.15	CTHR
BRLT	0.36	-0.57	0.69	-0.51	0.06	0.37	0.51	0.38	0.15		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	+ 0.94	MYTE
BRLT	+ 0.69	ELA
LANV	+ 0.63	ELA
FOSL	+ 0.61	MOV
FOSL	+ 0.59	ELA
CTHR	+ 0.53	LANV

High negative correlations

SIG	- 0.87	TPR
SIG	- 0.85	MYTE
BRLT	- 0.57	MYTE
BRLT	- 0.51	TPR
CTHR	- 0.49	SIG
SIG	- 0.48	CPRI

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	0.03	0.02	0.04	1.40	(1.56)	2.77	(1.91)	6.87
MYTE	3.32	0.93	0.32	1.03	2.37	(4.47)	11.52	(4.53)	30.36
ELA	1.84	0.11	0.05	(6.14)	2.00	(2.08)	4.59	(3.51)	14.28
TPR	1.66	0.62	0.38	0.83	1.22	(2.06)	3.73	(2.71)	15.03
CPRI	2.13	0.09	0.03	(0.93)	2.78	(2.17)	5.18	(4.23)	20.30
LANV	4.97	0.29	0.05	(0.32)	5.41	(6.38)	13.89	(11.89)	29.32
FOSL	4.78	0.56	0.12	0.82	4.40	(6.40)	10.08	(7.57)	72.60
SIG	2.29	(0.90)	0.00	(1.49)	0.00	0.00	3.58	(3.96)	27.25
CTHR	3.51	0.29	0.07	0.49	3.87	(4.59)	9.77	(7.53)	45.55
BRLT	3.01	(0.23)	0.00	(0.19)	0.00	0.00	5.59	(7.10)	32.30

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