Biglari Holdings Correlations

BH Stock

USD 241.79 4.68 1.97%

The current 90-days correlation between Biglari Holdings and Cannae Holdings is 0.29 (i.e., Modest diversification). The correlation of Biglari Holdings 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.

Biglari Holdings Correlation With Market

Average diversification

The correlation between Biglari Holdings 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 Biglari Holdings 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 Biglari Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more detail on how to invest in Biglari Stock please use our How to Invest in Biglari Holdings guide.

Moving against Biglari Stock

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0.43	PPERF	Bank Mandiri Persero	Pair Corr
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0.54	PBCRF	PT Bank Central	Pair Corr
0.4	HD	Home Depot	Pair Corr
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0.39	KOREF	KORE Mining	Pair Corr
0.38	PBCRY	Bank Central Asia	Pair Corr
0.33	U4R90AAB4	HLF 4875 01	Pair Corr
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Related Correlations Analysis

	CNNE	BJRI	FRGI	RUTH	ARKR	NROM	NATH	EAT	BLMN	CHUY
CNNE		0.46	0.0	0.0	-0.51	-0.46	0.22	-0.47	0.81	0.0	CNNE
BJRI	0.46		0.0	0.0	-0.11	-0.02	0.37	0.16	0.67	0.0	BJRI
FRGI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FRGI
RUTH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RUTH
ARKR	-0.51	-0.11	0.0	0.0		0.29	-0.41	0.24	-0.3	0.0	ARKR
NROM	-0.46	-0.02	0.0	0.0	0.29		-0.04	0.53	-0.16	0.0	NROM
NATH	0.22	0.37	0.0	0.0	-0.41	-0.04		0.15	0.05	0.0	NATH
EAT	-0.47	0.16	0.0	0.0	0.24	0.53	0.15		-0.21	0.0	EAT
BLMN	0.81	0.67	0.0	0.0	-0.3	-0.16	0.05	-0.21		0.0	BLMN
CHUY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CHUY
	CNNE	BJRI	FRGI	RUTH	ARKR	NROM	NATH	EAT	BLMN	CHUY

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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

BLMN	+ 0.81	CNNE
BLMN	+ 0.67	BJRI
EAT	+ 0.53	NROM
BJRI	+ 0.46	CNNE
NATH	+ 0.37	BJRI
NROM	+ 0.29	ARKR

High negative correlations

ARKR	- 0.51	CNNE
EAT	- 0.47	CNNE
NROM	- 0.46	CNNE
NATH	- 0.41	ARKR
BLMN	- 0.3	ARKR
BLMN	- 0.21	EAT

Risk-Adjusted Indicators

There is a big difference between Biglari Stock performing well and Biglari Holdings 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 Biglari Holdings' 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
CNNE	0.94	(0.07)	0.00	(0.10)	0.00	0.00	1.69	(2.14)	5.48
BJRI	1.60	0.10	0.05	0.39	1.97	(1.76)	3.44	(2.89)	11.88
FRGI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RUTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ARKR	3.97	0.25	0.06	(0.88)	4.05	(5.29)	15.44	(7.90)	35.13
NROM	6.42	0.45	0.03	0.17	7.72	(11.59)	22.50	(16.67)	53.47
NATH	1.59	0.30	0.16	0.35	1.54	(1.82)	4.03	(2.61)	16.63
EAT	2.35	0.45	0.17	0.46	2.29	(2.85)	5.45	(4.85)	21.93
BLMN	2.33	(0.12)	0.00	(0.09)	0.00	0.00	5.62	(4.10)	15.29
CHUY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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