Designer Brands Correlations

D9W Stock

EUR 3.38 0.36 9.63%

The current 90-days correlation between Designer Brands and Hyster Yale Materials Handling is -0.01 (i.e., Good diversification). The correlation of Designer Brands 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.

Designer Brands Correlation With Market

Average diversification

The correlation between Designer Brands and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Designer Brands and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Designer Brands could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Designer Brands when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Designer Brands - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Designer Brands to buy it.

Moving together with Designer Stock

0.62	FR7H	FAST RETAILCOSPHDR	Pair Corr
0.89	RSO	Ross Stores	Pair Corr
0.88	GN8	Genesco	Pair Corr
0.73	SYJ	Stitch Fix	Pair Corr
0.92	1MJ1	J JILL INC	Pair Corr
0.74	47M	MedMira	Pair Corr

Moving against Designer Stock

0.78	GFG	Global Fashion Group	Pair Corr
0.73	VVDH	Veolia Environnement	Pair Corr
0.66	CJH	CanSino Biologics	Pair Corr
0.61	WY8	Universal Health Realty	Pair Corr
0.48	3KF	Auxly Cannabis Group Earnings Call This Week	Pair Corr
0.45	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	G4A	HYEA	2LH	1NX	TJW	EZM	9JU	7IG
G4A		0.41	-0.53	-0.64	-0.59	-0.36	-0.38	0.46	G4A
HYEA	0.41		-0.12	-0.5	-0.34	0.3	0.1	0.58	HYEA
2LH	-0.53	-0.12		0.69	0.23	0.58	0.67	-0.53	2LH
1NX	-0.64	-0.5	0.69		0.66	0.31	0.6	-0.54	1NX
TJW	-0.59	-0.34	0.23	0.66		0.06	0.45	-0.05	TJW
EZM	-0.36	0.3	0.58	0.31	0.06		0.46	-0.03	EZM
9JU	-0.38	0.1	0.67	0.6	0.45	0.46		-0.28	9JU
7IG	0.46	0.58	-0.53	-0.54	-0.05	-0.03	-0.28		7IG
	G4A	HYEA	2LH	1NX	TJW	EZM	9JU	7IG

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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

1NX	+ 0.69	2LH
9JU	+ 0.67	2LH
TJW	+ 0.66	1NX
9JU	+ 0.6	1NX
7IG	+ 0.58	HYEA
EZM	+ 0.58	2LH

High negative correlations

1NX	- 0.64	G4A
TJW	- 0.59	G4A
7IG	- 0.54	1NX
7IG	- 0.53	2LH
2LH	- 0.53	G4A
1NX	- 0.5	HYEA

Risk-Adjusted Indicators

There is a big difference between Designer Stock performing well and Designer Brands 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 Designer Brands' 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
G4A	1.69	(0.22)	0.00	0.79	0.00	0.00	4.09	(4.02)	17.67
HYEA	1.64	(0.34)	0.00	1.83	0.00	0.00	2.82	(4.19)	15.42
2LH	2.30	0.34	0.17	(2.10)	2.00	(3.05)	4.59	(3.79)	23.96
1NX	1.31	0.25	0.11	(5.73)	1.87	(1.61)	4.62	(3.28)	15.56
TJW	1.59	0.17	0.10	0.43	1.79	(1.96)	3.35	(3.55)	12.74
EZM	1.98	0.04	0.04	0.14	2.58	(2.55)	5.93	(3.95)	19.25
9JU	2.98	0.32	0.10	0.47	3.44	(3.36)	6.59	(5.71)	22.31
7IG	1.44	(0.22)	0.00	4.99	0.00	0.00	2.51	(3.03)	9.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in Designer Brands without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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