Carnival Correlations

Stocks . USA . 
Stock . Carnival
CCL Stock  USD 25.43  0.29  1.15%   
The current 90-days correlation between Carnival and Royal Caribbean Cruises is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carnival moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carnival moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carnival Correlation With Market

Very weak diversification

The correlation between Carnival and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carnival 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 Carnival. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.
For more information on how to buy Carnival Stock please use our How to buy in Carnival Stock guide.

Moving together with Carnival Stock

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  0.79SG SweetgreenPairCorr
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  0.96EXPE Expedia GroupPairCorr
  0.87AGS PlayAGSPairCorr
  0.93BYD Boyd GamingPairCorr
  0.77CMG Chipotle Mexican Grill Aggressive PushPairCorr
  0.65DIN Dine Brands GlobalPairCorr
  0.79DPZ Dominos PizzaPairCorr
  0.65DRI Darden RestaurantsPairCorr
  0.97EAT Brinker InternationalPairCorr
  0.76GAN GanPairCorr
  0.79HGV Hilton Grand VacationsPairCorr
  0.71FWRG First Watch RestaurantPairCorr
  0.66LVS Las Vegas Sands Fiscal Year End 22nd of January 2025 PairCorr
  0.97OSW OneSpaWorld HoldingsPairCorr
  0.99RCL Royal Caribbean CruisesPairCorr
  0.81RSI Rush Street InteractivePairCorr
  0.64BTCTW BTC DigitalPairCorr
  0.96VIK Viking HoldingsPairCorr
  0.64WEN The WendysPairCorr

Moving against Carnival Stock

  0.81EJH E Home HouseholdPairCorr
  0.7WING WingstopPairCorr
  0.81HRB HR BlockPairCorr
  0.76IGT International GamePairCorr
  0.44LNW Light WonderPairCorr
  0.36BTBDW BT Brands WarrantPairCorr
  0.77MOND Mondee HoldingsPairCorr
  0.68LOCO El Pollo LocoPairCorr
  0.61YTRA Yatra OnlinePairCorr
  0.52HOFVW Hall of FamePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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