Honest Correlations

HNST Stock

USD 5.02 0.03 0.59%

The current 90-days correlation between Honest Company and Beauty Health Co is 0.06 (i.e., Significant diversification). The correlation of Honest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Honest Correlation With Market

Very good diversification

The correlation between Honest Company and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Honest Company 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 Honest Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Honest Stock

0.73	CLX	Clorox	Pair Corr
0.79	DSY	Big Tree Cloud	Pair Corr
0.82	ELF	ELF Beauty	Pair Corr
0.62	EPC	Edgewell Personal Care	Pair Corr
0.79	NWL	Newell Brands	Pair Corr
0.85	SPB	Spectrum Brands Holdings	Pair Corr
0.73	HELE	Helen of Troy	Pair Corr
0.67	NATR	Natures Sunshine Products	Pair Corr
0.65	SKIN	Beauty Health	Pair Corr
0.78	TANH	Tantech Holdings	Pair Corr
0.74	COTY	Coty Inc	Pair Corr
0.78	GO	Grocery Outlet Holding	Pair Corr

Moving against Honest Stock

0.74	KMB	Kimberly Clark	Pair Corr
0.73	CHD	Church Dwight	Pair Corr
0.66	NUS	Nu Skin Enterprises Downward Rally	Pair Corr
0.65	KVUE	Kenvue Inc Aggressive Push	Pair Corr
0.56	GROV	Virgin Group Acquisition	Pair Corr
0.42	PG	Procter Gamble	Pair Corr
0.39	UL	Unilever PLC ADR	Pair Corr
0.89	K	Kellanova	Pair Corr
0.79	MO	Altria Group	Pair Corr
0.76	KO	Coca Cola	Pair Corr
0.76	PM	Philip Morris Intern	Pair Corr
0.75	YQ	17 Education Technology	Pair Corr
0.74	BJ	BJs Wholesale Club	Pair Corr
0.73	IH	Ihuman Inc	Pair Corr
0.66	GV	Visionary Education	Pair Corr
0.57	KR	Kroger Company	Pair Corr
0.45	YI	111 Inc	Pair Corr
0.43	DG	Dollar General	Pair Corr
0.41	DOLE	Dole PLC	Pair Corr
0.35	JZ	Jianzhi Education	Pair Corr

Related Correlations Analysis

	EL	HIMS	PG	COTY	ELF	SKIN	KMB	UL	CLX	CL
EL		-0.35	-0.22	0.73	0.6	0.43	-0.44	-0.21	0.71	0.12	EL
HIMS	-0.35		0.33	-0.57	-0.66	0.04	0.4	-0.12	-0.54	-0.25	HIMS
PG	-0.22	0.33		-0.44	-0.59	-0.6	0.8	0.66	-0.3	0.67	PG
COTY	0.73	-0.57	-0.44		0.87	0.58	-0.81	-0.19	0.76	-0.12	COTY
ELF	0.6	-0.66	-0.59	0.87		0.5	-0.81	-0.36	0.84	-0.07	ELF
SKIN	0.43	0.04	-0.6	0.58	0.5		-0.73	-0.58	0.36	-0.61	SKIN
KMB	-0.44	0.4	0.8	-0.81	-0.81	-0.73		0.53	-0.57	0.6	KMB
UL	-0.21	-0.12	0.66	-0.19	-0.36	-0.58	0.53		-0.33	0.58	UL
CLX	0.71	-0.54	-0.3	0.76	0.84	0.36	-0.57	-0.33		0.14	CLX
CL	0.12	-0.25	0.67	-0.12	-0.07	-0.61	0.6	0.58	0.14		CL
	EL	HIMS	PG	COTY	ELF	SKIN	KMB	UL	CLX	CL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

ELF	+ 0.87	COTY
CLX	+ 0.84	ELF
KMB	+ 0.8	PG
CLX	+ 0.76	COTY
COTY	+ 0.73	EL
CLX	+ 0.71	EL

High negative correlations

KMB	- 0.81	ELF
KMB	- 0.81	COTY
KMB	- 0.73	SKIN
ELF	- 0.66	HIMS
CL	- 0.61	SKIN
SKIN	- 0.6	PG

Risk-Adjusted Indicators

There is a big difference between Honest Stock performing well and Honest 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 Honest'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
EL	1.98	(0.16)	0.00	(0.27)	0.00	0.00	4.77	(4.13)	20.84
HIMS	5.18	0.67	0.06	0.12	8.12	(5.18)	9.07	(9.78)	53.50
PG	0.86	0.00	0.00	(0.06)	0.00	0.00	1.67	(2.18)	8.13
COTY	1.89	(0.36)	0.00	(0.62)	0.00	0.00	3.03	(4.51)	13.50
ELF	3.16	(1.16)	0.00	1.01	0.00	0.00	5.79	(6.67)	26.55
SKIN	3.38	0.01	0.00	(0.07)	0.00	0.00	5.43	(8.66)	23.30
KMB	0.86	0.12	0.14	0.54	1.11	(0.85)	1.80	(1.98)	5.44
UL	0.90	0.03	0.07	0.19	1.38	(0.93)	1.80	(1.91)	8.26
CLX	1.11	(0.20)	0.00	0.47	0.00	0.00	1.79	(2.39)	9.28
CL	1.05	(0.02)	0.00	(0.13)	0.00	0.00	1.82	(2.89)	8.40

Honest Corporate Management

Sharareh Parvaneh	Chief Officer	Profile
Jennifer Rosenberg	VP Communications	Profile
Kelly Kennedy	EVP CFO	Profile
Steve Austenfeld	VP Relations	Profile
Steve Winchell	Chief Officer	Profile
Nikolaos Vlahos	CEO Director	Profile

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