Carriage Services Correlations

CSV Stock

USD 38.30 0.02 0.05%

The current 90-days correlation between Carriage Services and Rollins is 0.45 (i.e., Very weak diversification). The correlation of Carriage Services 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.

Carriage Services Correlation With Market

Weak diversification

The correlation between Carriage Services and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carriage Services 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 Carriage Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Carriage Stock please use our How to Invest in Carriage Services guide.

Moving together with Carriage Stock

0.64	H	Hyatt Hotels	Pair Corr
0.82	WH	Wyndham Hotels Resorts	Pair Corr
0.63	DKNG	DraftKings	Pair Corr
0.66	WING	Wingstop	Pair Corr
0.8	FLUT	Flutter Entertainment plc	Pair Corr
0.85	BYD	Boyd Gaming	Pair Corr
0.81	CHH	Choice Hotels Intern	Pair Corr
0.82	CUK	Carnival Plc ADS	Pair Corr
0.91	CZR	Caesars Entertainment	Pair Corr
0.8	FWRG	First Watch Restaurant	Pair Corr
0.77	XPOF	Xponential Fitness	Pair Corr
0.61	RGS	Regis Common	Pair Corr
0.84	GAMB	Gambling Group	Pair Corr

Moving against Carriage Stock

0.37	EJH	E Home Household	Pair Corr
0.32	QSR	Restaurant Brands	Pair Corr

Related Correlations Analysis

	ROL	BFAM	HRB	DSEY	FTDR	MCW	EM	SCI
ROL		0.87	-0.25	0.0	-0.56	0.81	0.72	0.1	ROL
BFAM	0.87		-0.27	0.0	-0.43	0.72	0.84	-0.22	BFAM
HRB	-0.25	-0.27		0.0	0.31	-0.13	-0.19	0.28	HRB
DSEY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DSEY
FTDR	-0.56	-0.43	0.31	0.0		-0.46	-0.19	-0.13	FTDR
MCW	0.81	0.72	-0.13	0.0	-0.46		0.61	0.09	MCW
EM	0.72	0.84	-0.19	0.0	-0.19	0.61		-0.42	EM
SCI	0.1	-0.22	0.28	0.0	-0.13	0.09	-0.42		SCI
	ROL	BFAM	HRB	DSEY	FTDR	MCW	EM	SCI

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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

BFAM	+ 0.87	ROL
EM	+ 0.84	BFAM
MCW	+ 0.81	ROL
EM	+ 0.72	ROL
MCW	+ 0.72	BFAM
EM	+ 0.61	MCW

High negative correlations

FTDR	- 0.56	ROL
MCW	- 0.46	FTDR
FTDR	- 0.43	BFAM
SCI	- 0.42	EM
HRB	- 0.27	BFAM
HRB	- 0.25	ROL

Risk-Adjusted Indicators

There is a big difference between Carriage Stock performing well and Carriage Services 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 Carriage Services' 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
ROL	0.81	0.11	0.15	0.25	0.95	(0.88)	2.00	(1.73)	6.23
BFAM	1.33	0.26	0.16	0.25	1.46	(1.35)	2.48	(2.32)	10.67
HRB	1.27	(0.02)	0.00	(0.10)	0.00	0.00	2.43	(2.41)	10.39
DSEY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FTDR	1.93	(0.54)	0.00	(0.53)	0.00	0.00	2.96	(3.30)	23.72
MCW	1.51	0.18	0.11	0.12	1.47	(1.91)	3.63	(2.94)	11.64
EM	1.62	0.69	0.43	2.97	0.49	(3.65)	3.03	(1.30)	40.89
SCI	1.14	(0.10)	0.00	(0.30)	0.00	0.00	1.58	(2.99)	12.64

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