ELF Beauty Correlations

ELF Stock

USD 129.52 2.37 1.86%

The current 90-days correlation between ELF Beauty and Seneca Foods Corp is -0.04 (i.e., Good diversification). The correlation of ELF Beauty 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.

ELF Beauty Correlation With Market

Modest diversification

The correlation between ELF Beauty and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ELF Beauty and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ELF Beauty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more detail on how to invest in ELF Stock please use our How to Invest in ELF Beauty guide.

Moving together with ELF Stock

0.75	EPC	Edgewell Personal Care	Pair Corr
0.85	NUS	Nu Skin Enterprises Downward Rally	Pair Corr
0.62	SPPJY	Sappi Ltd ADR	Pair Corr
0.68	GO	Grocery Outlet Holding	Pair Corr

Moving against ELF Stock

0.31	UG	United Guardian	Pair Corr
0.72	VINE	Fresh Grapes LLC	Pair Corr
0.64	VITL	Vital Farms	Pair Corr
0.53	IH	Ihuman Inc	Pair Corr
0.47	TANH	Tantech Holdings	Pair Corr
0.47	YQ	17 Education Technology	Pair Corr
0.44	BRBMF	Big Rock Brewery	Pair Corr
0.36	FC	Franklin Covey	Pair Corr

Related Correlations Analysis

	SENEB	CENTA	CENT	LWAY	SENEA	JJSF	ARZTY	JVA	NATR	BRID
SENEB		0.28	0.3	-0.09	0.31	0.07	-0.4	0.25	0.31	-0.01	SENEB
CENTA	0.28		1.0	-0.78	0.21	0.26	-0.09	-0.23	0.49	0.51	CENTA
CENT	0.3	1.0		-0.75	0.27	0.27	-0.15	-0.19	0.53	0.48	CENT
LWAY	-0.09	-0.78	-0.75		0.23	0.12	-0.13	0.63	-0.14	-0.62	LWAY
SENEA	0.31	0.21	0.27	0.23		0.35	-0.79	0.63	0.82	-0.3	SENEA
JJSF	0.07	0.26	0.27	0.12	0.35		-0.08	0.35	0.42	0.02	JJSF
ARZTY	-0.4	-0.09	-0.15	-0.13	-0.79	-0.08		-0.43	-0.69	0.21	ARZTY
JVA	0.25	-0.23	-0.19	0.63	0.63	0.35	-0.43		0.33	-0.46	JVA
NATR	0.31	0.49	0.53	-0.14	0.82	0.42	-0.69	0.33		-0.08	NATR
BRID	-0.01	0.51	0.48	-0.62	-0.3	0.02	0.21	-0.46	-0.08		BRID
	SENEB	CENTA	CENT	LWAY	SENEA	JJSF	ARZTY	JVA	NATR	BRID

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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

CENT	+ 1.0	CENTA
NATR	+ 0.82	SENEA
JVA	+ 0.63	LWAY
JVA	+ 0.63	SENEA
NATR	+ 0.53	CENT
BRID	+ 0.51	CENTA

High negative correlations

ARZTY	- 0.79	SENEA
LWAY	- 0.78	CENTA
LWAY	- 0.75	CENT
NATR	- 0.69	ARZTY
BRID	- 0.62	LWAY
BRID	- 0.46	JVA

Risk-Adjusted Indicators

There is a big difference between ELF Stock performing well and ELF Beauty 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 ELF Beauty'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
SENEB	1.20	0.23	0.04	(7.55)	1.24	(1.94)	3.02	(2.53)	11.90
CENTA	1.26	(0.15)	(0.09)	(0.01)	1.46	(1.38)	2.74	(2.72)	6.82
CENT	1.25	(0.10)	(0.08)	0.02	1.45	(1.40)	2.81	(2.33)	6.39
LWAY	2.18	0.43	0.13	1.10	2.24	(2.63)	4.86	(5.06)	31.34
SENEA	1.17	0.16	0.09	0.31	1.42	(1.33)	2.87	(1.85)	11.87
JJSF	0.97	(0.08)	(0.05)	0.06	1.18	(1.05)	2.12	(1.89)	9.61
ARZTY	0.63	(0.23)	0.00	(5.33)	0.00	0.00	0.00	0.00	14.15
JVA	4.46	0.67	0.19	0.41	3.97	(5.68)	9.45	(7.80)	47.22
NATR	2.07	0.06	0.09	0.15	1.88	(2.52)	6.11	(2.99)	22.72
BRID	2.11	(0.47)	0.00	(1.01)	0.00	0.00	4.07	(4.87)	24.74

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