Carnival Plc Correlations

CUK Stock

USD 23.74 0.27 1.15%

The current 90-days correlation between Carnival Plc ADS and Callaway Golf is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carnival Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carnival Plc ADS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carnival Plc Correlation With Market

Average diversification

The correlation between Carnival Plc ADS and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carnival Plc ADS 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 Plc ADS. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Carnival Stock

0.69	BYD	Boyd Gaming	Pair Corr
0.66	EAT	Brinker International	Pair Corr
0.76	OSW	OneSpaWorld Holdings	Pair Corr
0.67	FATBB	FAT Brands	Pair Corr

Moving against Carnival Stock

0.31

WEN

The Wendys

Pair Corr

Related Correlations Analysis

	MODG	PTON	VSTO	CLAR	JOUT	ESCA	JAKK	SEAS	BOWL	YETI
MODG		-0.11	0.0	-0.3	0.25	-0.05	-0.14	0.0	0.0	0.11	MODG
PTON	-0.11		0.0	0.22	0.45	0.23	-0.2	0.0	0.0	0.64	PTON
VSTO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	VSTO
CLAR	-0.3	0.22	0.0		-0.01	0.74	0.32	0.0	0.0	0.28	CLAR
JOUT	0.25	0.45	0.0	-0.01		-0.07	-0.75	0.0	0.0	0.64	JOUT
ESCA	-0.05	0.23	0.0	0.74	-0.07		0.29	0.0	0.0	0.34	ESCA
JAKK	-0.14	-0.2	0.0	0.32	-0.75	0.29		0.0	0.0	-0.38	JAKK
SEAS	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SEAS
BOWL	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BOWL
YETI	0.11	0.64	0.0	0.28	0.64	0.34	-0.38	0.0	0.0		YETI
	MODG	PTON	VSTO	CLAR	JOUT	ESCA	JAKK	SEAS	BOWL	YETI

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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

ESCA	+ 0.74	CLAR
YETI	+ 0.64	PTON
YETI	+ 0.64	JOUT
JOUT	+ 0.45	PTON
YETI	+ 0.34	ESCA
JAKK	+ 0.32	CLAR

High negative correlations

JAKK	- 0.75	JOUT
YETI	- 0.38	JAKK
CLAR	- 0.3	MODG
JAKK	- 0.2	PTON
JAKK	- 0.14	MODG
PTON	- 0.11	MODG

Risk-Adjusted Indicators

There is a big difference between Carnival Stock performing well and Carnival Plc 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 Plc'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
MODG	2.71	(0.37)	0.00	(0.38)	0.00	0.00	4.55	(5.25)	19.75
PTON	3.38	0.22	0.05	0.18	3.99	(3.61)	8.37	(5.55)	19.06
VSTO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLAR	2.14	0.18	0.06	0.22	2.89	(2.16)	4.35	(5.60)	18.59
JOUT	1.95	(0.17)	0.00	(0.30)	0.00	0.00	3.71	(4.30)	13.35
ESCA	1.85	0.07	0.03	0.07	2.56	(1.78)	4.12	(3.83)	13.13
JAKK	1.66	0.19	0.09	0.27	1.98	(1.68)	3.12	(3.22)	8.37
SEAS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOWL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
YETI	1.60	(0.01)	0.00	(0.05)	0.00	0.00	3.41	(3.04)	11.55

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