Gildan Activewear Correlations

GIL Stock

USD 45.17 0.84 1.83%

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

Gildan Activewear Correlation With Market

Very weak diversification

The correlation between Gildan Activewear and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gildan Activewear and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gildan Activewear. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Gildan Stock please use our How to buy in Gildan Stock guide.

Moving together with Gildan Stock

0.64	ZGN	Ermenegildo Zegna Earnings Call This Week	Pair Corr
0.65	AOUT	American Outdoor Brands	Pair Corr
0.76	EVRI	Everi Holdings	Pair Corr

Moving against Gildan Stock

0.43	GOLF	Acushnet Holdings Corp	Pair Corr
0.32	CROX	Crocs Inc	Pair Corr
0.47	CAL	Continental	Pair Corr
0.46	GM	General Motors Aggressive Push	Pair Corr

Related Correlations Analysis

	VNCE	ZGN	COLM	GIII	OXM	KTB	PVH
VNCE		0.23	0.11	0.47	0.6	0.57	0.59	VNCE
ZGN	0.23		0.62	0.44	0.48	0.68	0.27	ZGN
COLM	0.11	0.62		0.38	0.4	0.47	0.4	COLM
GIII	0.47	0.44	0.38		0.88	0.84	0.93	GIII
OXM	0.6	0.48	0.4	0.88		0.91	0.84	OXM
KTB	0.57	0.68	0.47	0.84	0.91		0.73	KTB
PVH	0.59	0.27	0.4	0.93	0.84	0.73		PVH
	VNCE	ZGN	COLM	GIII	OXM	KTB	PVH

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Gildan Stock performing well and Gildan Activewear 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 Gildan Activewear'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
VNCE	8.25	1.39	0.18	1.54	7.12	(11.73)	13.67	(13.24)	93.72
ZGN	1.91	(0.20)	0.00	(0.24)	0.00	0.00	5.43	(3.58)	11.60
COLM	1.40	(0.18)	0.00	(0.50)	0.00	0.00	2.41	(3.37)	10.58
GIII	1.64	(0.41)	0.00	(0.54)	0.00	0.00	2.91	(3.92)	8.36
OXM	1.89	(0.37)	0.00	(0.53)	0.00	0.00	4.12	(3.94)	15.93
KTB	1.90	(0.40)	0.00	(0.48)	0.00	0.00	3.75	(3.96)	17.80
PVH	1.74	(0.69)	0.00	(0.84)	0.00	0.00	2.44	(4.80)	10.85

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC