BJs Wholesale Correlations

Stocks . USA . 
Stock . BJs Wholesale Club
BJ Stock  USD 105.19  1.94  1.88%   
The current 90-days correlation between BJs Wholesale Club and Dollar Tree is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BJs Wholesale moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BJs Wholesale Club moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BJs Wholesale Correlation With Market

Modest diversification

The correlation between BJs Wholesale Club and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BJs Wholesale Club 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 BJs Wholesale Club. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with BJs Stock

  0.91WMT WalmartPairCorr
  0.73CHEF Chefs WarehousePairCorr
  0.74UNFI United Natural Foods Earnings Call This WeekPairCorr
  0.76USFD US Foods HoldingPairCorr
  0.72K Kellanova Earnings Call This WeekPairCorr
  0.7KO Coca Cola Aggressive PushPairCorr
  0.76KR Kroger CompanyPairCorr
  0.73PM Philip Morris InternPairCorr
  0.66UG United GuardianPairCorr

Moving against BJs Stock

  0.67AVO Mission ProducePairCorr
  0.63BG Bunge LimitedPairCorr
  0.52HFFG Hf Foods GroupPairCorr
  0.5TBBB BBB FoodsPairCorr
  0.43SYY SyscoPairCorr
  0.41LW Lamb Weston HoldingsPairCorr
  0.4CL Colgate PalmolivePairCorr
  0.32JZ Jianzhi Education Tech BoostPairCorr
  0.58FAMI Farmmi IncPairCorr
  0.51DNUT Krispy KremePairCorr
  0.41TR Tootsie Roll IndustriesPairCorr
  0.38DTCK Davis CommoditiesPairCorr

Related Correlations Analysis

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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   
WSM
+ 0.86
DKS
DDS
+ 0.82
DKS
DDS
+ 0.79
WSM
DKS
+ 0.65
DLTR
WSM
+ 0.64
DLTR
DDS
+ 0.61
DLTR
  
High negative correlations   
DDS
- 0.0
BIG
WSM
- 0.0
BIG
DKS
- 0.0
BIG
DLTR
- 0.0
BIG

Risk-Adjusted Indicators

There is a big difference between BJs Stock performing well and BJs Wholesale 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 BJs Wholesale'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.

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