Boot Barn Correlations

BOOT Stock

USD 104.73 2.56 2.39%

The current 90-days correlation between Boot Barn Holdings and Childrens Place is 0.36 (i.e., Weak diversification). The correlation of Boot Barn 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Boot Barn Correlation With Market

Weak diversification

The correlation between Boot Barn Holdings and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boot Barn 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 Boot Barn 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 persons.

Moving together with Boot Stock

0.65	M	Macys Inc	Pair Corr
0.86	W	Wayfair	Pair Corr
0.75	HD	Home Depot	Pair Corr
0.93	RH	RH Earnings Call This Week	Pair Corr
0.87	VSCO	Victorias Secret	Pair Corr
0.79	WEYS	Weyco Group	Pair Corr
0.74	ETSY	Etsy Inc	Pair Corr
0.87	WOOF	Pet Acquisition LLC	Pair Corr
0.85	ASO	Academy Sports Outdoors	Pair Corr
0.71	DDS	Dillards	Pair Corr
0.81	DKS	Dicks Sporting Goods	Pair Corr
0.81	XELB	Xcel Brands	Pair Corr
0.78	FND	Floor Decor Holdings	Pair Corr
0.85	KSS	Kohls Corp	Pair Corr
0.81	LOW	Lowes Companies	Pair Corr
0.66	WSM	Williams Sonoma	Pair Corr
0.83	GLBE	Global E Online	Pair Corr
0.84	JMIA	Jumia Technologies	Pair Corr
0.8	KIRK	Kirklands	Pair Corr
0.92	RENT	Rent the Runway	Pair Corr
0.88	ULTA	Ulta Beauty	Pair Corr

Moving against Boot Stock

0.83	AZO	AutoZone	Pair Corr
0.81	VIPS	Vipshop Holdings	Pair Corr
0.68	PDD	PDD Holdings	Pair Corr
0.68	ORLY	OReilly Automotive	Pair Corr
0.65	MELI	MercadoLibre	Pair Corr
0.61	JD	JD Inc Adr	Pair Corr
0.49	GRPN	Groupon	Pair Corr
0.39	JWN	Nordstrom	Pair Corr
0.87	BABA	Alibaba Group Holding	Pair Corr
0.83	IH	Ihuman Inc	Pair Corr
0.53	GHC	Graham Holdings	Pair Corr
0.52	DAO	Youdao Inc	Pair Corr
0.49	DPZ	Dominos Pizza Common	Pair Corr

Related Correlations Analysis

	ROST	PLCE	BKE	HIBB	GES	BURL	SCVL	CATO	GCO
ROST		0.85	0.94	0.0	0.75	0.91	0.83	0.76	0.92	ROST
PLCE	0.85		0.91	0.0	0.85	0.83	0.82	0.85	0.83	PLCE
BKE	0.94	0.91		0.0	0.88	0.95	0.88	0.86	0.87	BKE
HIBB	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HIBB
GES	0.75	0.85	0.88	0.0		0.81	0.87	0.84	0.67	GES
BURL	0.91	0.83	0.95	0.0	0.81		0.89	0.81	0.77	BURL
SCVL	0.83	0.82	0.88	0.0	0.87	0.89		0.84	0.67	SCVL
CATO	0.76	0.85	0.86	0.0	0.84	0.81	0.84		0.74	CATO
GCO	0.92	0.83	0.87	0.0	0.67	0.77	0.67	0.74		GCO
	ROST	PLCE	BKE	HIBB	GES	BURL	SCVL	CATO	GCO

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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

BURL	+ 0.95	BKE
BKE	+ 0.94	ROST
GCO	+ 0.92	ROST
BURL	+ 0.91	ROST
BKE	+ 0.91	PLCE
SCVL	+ 0.89	BURL

High negative correlations

GCO	- 0.0	HIBB
CATO	- 0.0	HIBB
SCVL	- 0.0	HIBB
BURL	- 0.0	HIBB
GES	- 0.0	HIBB
HIBB	- 0.0	BKE

Risk-Adjusted Indicators

There is a big difference between Boot Stock performing well and Boot Barn 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 Boot Barn'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ROST	1.08	(0.28)	0.00	(0.46)	0.00	0.00	1.84	(2.50)	5.08
PLCE	3.04	(0.09)	0.00	(0.12)	0.00	0.00	5.96	(6.44)	33.45
BKE	1.37	(0.28)	0.00	(0.36)	0.00	0.00	2.25	(3.03)	5.86
HIBB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GES	2.74	(0.18)	0.00	(0.18)	0.00	0.00	3.97	(6.82)	33.51
BURL	1.82	(0.26)	0.00	(0.44)	0.00	0.00	3.32	(3.62)	15.50
SCVL	1.95	(0.64)	0.00	(1.44)	0.00	0.00	3.24	(4.74)	10.20
CATO	2.82	0.13	0.06	0.65	2.93	(3.34)	7.36	(4.26)	16.95
GCO	2.66	(0.82)	0.00	(0.53)	0.00	0.00	5.07	(6.50)	22.52

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