Carnival Plc Correlations

CUK Stock

USD 18.67 0.38 1.99%

The current 90-days correlation between Carnival Plc ADS and Callaway Golf is 0.28 (i.e., Modest 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

Very weak diversification

The correlation between Carnival Plc ADS and DJI is 0.54 (i.e., Very weak 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

0.65	SG	Sweetgreen	Pair Corr
0.9	WING	Wingstop	Pair Corr
0.7	FLUT	Flutter Entertainment plc	Pair Corr
0.78	CMG	Chipotle Mexican Grill	Pair Corr
0.82	CSV	Carriage Services	Pair Corr
0.69	DIN	Dine Brands Global	Pair Corr
0.75	FUN	Six Flags Entertainment	Pair Corr
0.92	FTDR	Frontdoor	Pair Corr
0.72	FWRG	First Watch Restaurant	Pair Corr
0.89	OSW	OneSpaWorld Holdings	Pair Corr
0.82	XPOF	Xponential Fitness	Pair Corr
0.84	RGS	Regis Common	Pair Corr
0.84	RSI	Rush Street Interactive	Pair Corr
0.79	JACK	Jack In	Pair Corr
0.67	KRUS	Kura Sushi USA	Pair Corr
0.92	LIND	Lindblad Expeditions Downward Rally	Pair Corr
0.87	LOCO	El Pollo Loco	Pair Corr

Moving against Carnival Stock

0.69	YUM	Yum Brands	Pair Corr
0.64	LNW	Light Wonder	Pair Corr
0.54	MCD	McDonalds	Pair Corr
0.54	QSR	Restaurant Brands	Pair Corr
0.48	YUMC	Yum China Holdings	Pair Corr
0.63	RAVE	Rave Restaurant Group	Pair Corr
0.5	NATH	Nathans Famous	Pair Corr
0.5	PZZA	Papa Johns International	Pair Corr
0.33	REBN	Reborn Coffee	Pair Corr

Related Correlations Analysis

	MODG	PTON	VSTO	CLAR	JOUT	ESCA	JAKK	SEAS	BOWL	YETI
MODG		0.66	0.0	0.57	0.8	-0.15	0.35	0.0	0.51	0.63	MODG
PTON	0.66		0.0	0.68	0.76	-0.12	0.46	0.0	0.26	0.83	PTON
VSTO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	VSTO
CLAR	0.57	0.68	0.0		0.52	0.37	0.71	0.0	-0.25	0.66	CLAR
JOUT	0.8	0.76	0.0	0.52		-0.3	0.07	0.0	0.5	0.87	JOUT
ESCA	-0.15	-0.12	0.0	0.37	-0.3		0.39	0.0	-0.49	-0.14	ESCA
JAKK	0.35	0.46	0.0	0.71	0.07	0.39		0.0	-0.37	0.2	JAKK
SEAS	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SEAS
BOWL	0.51	0.26	0.0	-0.25	0.5	-0.49	-0.37	0.0		0.29	BOWL
YETI	0.63	0.83	0.0	0.66	0.87	-0.14	0.2	0.0	0.29		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

YETI	+ 0.87	JOUT
YETI	+ 0.83	PTON
JOUT	+ 0.8	MODG
JOUT	+ 0.76	PTON
JAKK	+ 0.71	CLAR
CLAR	+ 0.68	PTON

High negative correlations

BOWL	- 0.49	ESCA
BOWL	- 0.37	JAKK
ESCA	- 0.3	JOUT
BOWL	- 0.25	CLAR
ESCA	- 0.15	MODG
YETI	- 0.14	ESCA

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	2.75	(0.10)	0.00	(0.14)	0.00	0.00	4.55	(5.18)	19.75
PTON	3.70	(0.25)	0.00	(0.20)	0.00	0.00	9.72	(8.13)	22.67
VSTO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLAR	1.94	(0.29)	0.00	(0.35)	0.00	0.00	4.02	(3.50)	14.81
JOUT	1.79	(0.57)	0.00	(0.87)	0.00	0.00	2.98	(4.26)	13.35
ESCA	1.88	0.05	0.00	(0.02)	0.00	0.00	3.18	(4.31)	11.14
JAKK	1.87	0.01	0.00	(0.06)	0.00	0.00	2.95	(3.94)	20.78
SEAS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BOWL	2.33	0.19	0.09	1.59	2.58	(2.68)	5.15	(4.84)	12.71
YETI	1.49	(0.31)	0.00	(0.51)	0.00	0.00	2.80	(3.41)	9.41

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