Continental Correlations

Stocks . USA . 
Stock . Caleres
CAL Stock  USD 16.33  0.05  0.31%   
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Continental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caleres moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Continental Correlation With Market

Significant diversification

The correlation between Caleres and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caleres 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 Caleres. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Continental Stock

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  0.72WING WingstopPairCorr
  0.85AXL American Axle ManufaPairCorr
  0.7BLD Topbuild Corp Earnings Call TomorrowPairCorr
  0.65CMG Chipotle Mexican GrillPairCorr
  0.78MOD Modine ManufacturingPairCorr
  0.81MPX Marine ProductsPairCorr
  0.78QSR Restaurant BrandsPairCorr
  0.61SDA SunCar TechnologyPairCorr
  0.91VRA Vera BradleyPairCorr

Moving against Continental Stock

  0.84DRI Darden RestaurantsPairCorr
  0.81FNKO Funko Inc Earnings Call Next WeekPairCorr
  0.59IH Ihuman IncPairCorr
  0.88PLYA Playa Hotels ResortsPairCorr
  0.7RCKY Rocky Brands Earnings Call TomorrowPairCorr
  0.69LTH Life Time GroupPairCorr
  0.61OSW OneSpaWorld Holdings Earnings Call TomorrowPairCorr
  0.54JAKK JAKKS Pacific Earnings Call TomorrowPairCorr
  0.45XPOF Xponential Fitness Earnings Call TomorrowPairCorr
  0.41PLNT Planet FitnessPairCorr
  0.4MAT Mattel IncPairCorr

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   
SHOO
+ 0.74
VRA
SHOO
+ 0.62
WWW
WWW
+ 0.46
VRA
DBI
+ 0.44
SHOO
DBI
+ 0.43
WWW
DBI
+ 0.15
RCKY
  
High negative correlations   
RCKY
- 0.57
VRA
SHOO
- 0.42
RCKY
WEYS
- 0.39
VRA
DBI
- 0.26
WEYS
WEYS
- 0.15
SHOO
WEYS
- 0.14
WWW

Risk-Adjusted Indicators

There is a big difference between Continental Stock performing well and Continental 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 Continental'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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