Acushnet Holdings Correlations

GOLF Stock

USD 67.92 2.30 3.51%

The current 90-days correlation between Acushnet Holdings Corp and BOWL Old is 0.08 (i.e., Significant diversification). The correlation of Acushnet Holdings 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.

Acushnet Holdings Correlation With Market

Average diversification

The correlation between Acushnet Holdings Corp and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Acushnet Holdings Corp 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 Acushnet Holdings Corp. 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.

Moving together with Acushnet Stock

0.73	DOOO	BRP Inc Earnings Call Tomorrow	Pair Corr
0.69	VMAR	Vision Marine Techno	Pair Corr
0.61	EZGO	EZGO Technologies	Pair Corr
0.77	BZH	Beazer Homes USA	Pair Corr
0.68	DHI	DR Horton	Pair Corr
0.75	MHO	MI Homes	Pair Corr
0.71	PVH	PVH Corp Earnings Call This Week	Pair Corr

Moving against Acushnet Stock

0.62	MAT	Mattel Inc	Pair Corr
0.48	HAS	Hasbro Inc	Pair Corr
0.48	SKY	Skyline	Pair Corr
0.42	GIL	Gildan Activewear	Pair Corr
0.41	RL	Ralph Lauren Corp	Pair Corr
0.7	JD	JD Inc Adr	Pair Corr
0.51	MYTE	MYT Netherlands Parent	Pair Corr
0.47	LEGH	Legacy Housing Corp	Pair Corr
0.35	IH	Ihuman Inc	Pair Corr

Related Correlations Analysis

	BOWL	YETI	MSGE	SEAS	FUN	SIX	JOUT	MAT	MODG	XPOF
BOWL		0.31	-0.11	0.0	0.29	0.0	0.54	-0.66	0.54	-0.21	BOWL
YETI	0.31		0.4	0.0	0.83	0.0	0.87	-0.41	0.66	0.52	YETI
MSGE	-0.11	0.4		0.0	0.47	0.0	0.28	0.12	0.54	0.77	MSGE
SEAS	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SEAS
FUN	0.29	0.83	0.47	0.0		0.0	0.8	-0.42	0.75	0.56	FUN
SIX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SIX
JOUT	0.54	0.87	0.28	0.0	0.8	0.0		-0.71	0.81	0.47	JOUT
MAT	-0.66	-0.41	0.12	0.0	-0.42	0.0	-0.71		-0.61	0.01	MAT
MODG	0.54	0.66	0.54	0.0	0.75	0.0	0.81	-0.61		0.58	MODG
XPOF	-0.21	0.52	0.77	0.0	0.56	0.0	0.47	0.01	0.58		XPOF
	BOWL	YETI	MSGE	SEAS	FUN	SIX	JOUT	MAT	MODG	XPOF

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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

JOUT	+ 0.87	YETI
FUN	+ 0.83	YETI
MODG	+ 0.81	JOUT
JOUT	+ 0.8	FUN
XPOF	+ 0.77	MSGE
MODG	+ 0.75	FUN

High negative correlations

MAT	- 0.71	JOUT
MAT	- 0.66	BOWL
MODG	- 0.61	MAT
MAT	- 0.42	FUN
MAT	- 0.41	YETI
XPOF	- 0.21	BOWL

Risk-Adjusted Indicators

There is a big difference between Acushnet Stock performing well and Acushnet Holdings 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 Acushnet Holdings' 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
BOWL	2.33	0.19	0.08	1.33	2.58	(2.68)	5.15	(4.84)	12.71
YETI	1.48	(0.31)	0.00	(0.53)	0.00	0.00	2.80	(3.41)	9.41
MSGE	1.50	0.02	0.02	0.01	1.93	(1.43)	3.06	(2.51)	12.19
SEAS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FUN	2.07	(0.23)	0.00	(0.18)	0.00	0.00	4.52	(4.95)	15.35
SIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JOUT	1.82	(0.49)	0.00	(0.67)	0.00	0.00	3.75	(4.26)	13.35
MAT	1.32	0.15	0.09	0.15	1.64	(1.37)	2.20	(2.73)	19.38
MODG	2.79	(0.11)	0.00	(0.11)	0.00	0.00	4.55	(5.18)	19.75
XPOF	3.84	(0.67)	0.00	(48.27)	0.00	0.00	6.76	(8.06)	47.84

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