Funko Correlations

FNKO Stock

USD 7.34 0.21 2.95%

The current 90-days correlation between Funko Inc and JAKKS Pacific is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Funko moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Funko Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Funko Correlation With Market

Modest diversification

The correlation between Funko Inc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Funko Inc 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 Funko Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Funko Stock

0.72	W	Wayfair	Pair Corr
0.74	DIBS	1StdibsCom	Pair Corr
0.68	AN	AutoNation	Pair Corr
0.77	BQ	Boqii Holding Limited	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.86	RH	RH Earnings Call This Week	Pair Corr
0.81	DXLG	Destination XL Group	Pair Corr
0.62	VSCO	Victorias Secret	Pair Corr
0.7	EDUC	Educational Development	Pair Corr
0.86	WEYS	Weyco Group	Pair Corr
0.63	ETSY	Etsy Inc	Pair Corr
0.66	WINA	Winmark	Pair Corr
0.91	WRBY	Warby Parker Buyout Trend	Pair Corr
0.78	FLWS	1 800 FLOWERSCOM	Pair Corr
0.75	AAP	Advance Auto Parts	Pair Corr
0.68	AEO	American Eagle Outfitters	Pair Corr
0.67	ASO	Academy Sports Outdoors	Pair Corr
0.77	BBY	Best Buy	Pair Corr
0.67	BKE	Buckle Inc	Pair Corr

Moving against Funko Stock

0.68	VIPS	Vipshop Holdings	Pair Corr
0.44	JD	JD Inc Adr Sell-off Trend	Pair Corr
0.38	YJ	Yunji Inc	Pair Corr
0.65	AZO	AutoZone	Pair Corr

Related Correlations Analysis

	MAT	JAKK	MSGE	LTH	ESCA	AOUT	OSW	LEAT	SIX	SEAS
MAT		0.43	0.13	0.78	0.43	0.09	0.11	0.55	0.0	0.0	MAT
JAKK	0.43		0.84	0.48	0.33	0.77	0.84	0.05	0.0	0.0	JAKK
MSGE	0.13	0.84		0.29	0.3	0.82	0.82	-0.05	0.0	0.0	MSGE
LTH	0.78	0.48	0.29		0.49	0.37	0.22	0.39	0.0	0.0	LTH
ESCA	0.43	0.33	0.3	0.49		0.22	0.21	0.26	0.0	0.0	ESCA
AOUT	0.09	0.77	0.82	0.37	0.22		0.83	0.09	0.0	0.0	AOUT
OSW	0.11	0.84	0.82	0.22	0.21	0.83		0.03	0.0	0.0	OSW
LEAT	0.55	0.05	-0.05	0.39	0.26	0.09	0.03		0.0	0.0	LEAT
SIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SIX
SEAS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SEAS
	MAT	JAKK	MSGE	LTH	ESCA	AOUT	OSW	LEAT	SIX	SEAS

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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

MSGE	+ 0.84	JAKK
OSW	+ 0.84	JAKK
OSW	+ 0.83	AOUT
AOUT	+ 0.82	MSGE
OSW	+ 0.82	MSGE
LTH	+ 0.78	MAT

High negative correlations

LEAT	- 0.05	MSGE
SEAS	- 0.0	SIX
SEAS	- 0.0	LEAT
SIX	- 0.0	LEAT
SEAS	- 0.0	OSW
SIX	- 0.0	OSW

Risk-Adjusted Indicators

There is a big difference between Funko Stock performing well and Funko 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 Funko'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
MAT	1.31	0.17	0.10	0.11	1.69	(1.33)	2.20	(2.73)	19.38
JAKK	1.91	0.03	0.00	(0.08)	0.00	0.00	2.95	(3.94)	20.78
MSGE	1.50	(0.06)	0.00	(0.25)	0.00	0.00	3.06	(2.51)	12.19
LTH	1.69	0.46	0.18	0.53	2.27	(1.70)	3.18	(3.29)	12.68
ESCA	2.02	0.00	0.00	(0.09)	0.00	0.00	3.18	(4.64)	11.14
AOUT	2.57	0.09	0.00	(0.04)	0.00	0.00	5.86	(6.38)	19.63
OSW	1.72	(0.06)	0.00	(0.14)	0.00	0.00	3.41	(4.33)	14.66
LEAT	0.90	(0.04)	0.00	(0.22)	0.00	0.00	2.01	(2.48)	8.17
SIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEAS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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