Kontoor Brands Correlations

KTB Stock

USD 62.92 0.58 0.91%

The current 90-days correlation between Kontoor Brands and Ermenegildo Zegna NV is 0.32 (i.e., Weak diversification). The correlation of Kontoor Brands 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.

Kontoor Brands Correlation With Market

Weak diversification

The correlation between Kontoor Brands and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kontoor Brands and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kontoor Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For information on how to trade Kontoor Stock refer to our How to Trade Kontoor Stock guide.

Moving together with Kontoor Stock

0.66	FORD	Forward Industries	Pair Corr
0.94	CRI	Carters	Pair Corr
0.64	DHI	DR Horton	Pair Corr
0.82	DTC	Solo Brands	Pair Corr
0.67	KBH	KB Home	Pair Corr
0.62	LEN	Lennar	Pair Corr
0.65	NVR	NVR Inc	Pair Corr
0.9	OXM	Oxford Industries Earnings Call This Week	Pair Corr
0.65	PHM	PulteGroup	Pair Corr
0.72	PVH	PVH Corp	Pair Corr
0.88	SKX	Skechers USA	Pair Corr
0.82	VRA	Vera Bradley	Pair Corr
0.86	WWW	Wolverine World Wide	Pair Corr
0.66	ZGN	Ermenegildo Zegna Earnings Call This Week	Pair Corr
0.83	GIII	G III Apparel	Pair Corr
0.77	JOUT	Johnson Outdoors	Pair Corr
0.86	ONON	On Holding	Pair Corr
0.93	RCKY	Rocky Brands	Pair Corr
0.66	AOUT	American Outdoor Brands	Pair Corr
0.93	SHOO	Steven Madden	Pair Corr
0.71	CLAR	Clarus Corp	Pair Corr
0.83	DECK	Deckers Outdoor	Pair Corr
0.75	HD	Home Depot	Pair Corr
0.82	WEYS	Weyco Group	Pair Corr

Moving against Kontoor Stock

0.49	HAS	Hasbro Inc	Pair Corr
0.45	MAT	Mattel Inc	Pair Corr
0.82	YUM	Yum Brands	Pair Corr
0.79	VIPS	Vipshop Holdings	Pair Corr
0.77	LNW	Light Wonder	Pair Corr
0.75	AZO	AutoZone	Pair Corr
0.71	GPC	Genuine Parts	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.54	JD	JD Inc Adr Aggressive Push	Pair Corr
0.48	PDD	PDD Holdings Buyout Trend	Pair Corr

Related Correlations Analysis

	VNCE	ZGN	COLM	GIL	GIII	OXM	PVH
VNCE		0.14	-0.02	-0.15	0.32	0.52	0.45	VNCE
ZGN	0.14		0.58	0.61	0.4	0.43	0.22	ZGN
COLM	-0.02	0.58		0.46	0.36	0.35	0.37	COLM
GIL	-0.15	0.61	0.46		-0.32	-0.11	-0.4	GIL
GIII	0.32	0.4	0.36	-0.32		0.86	0.93	GIII
OXM	0.52	0.43	0.35	-0.11	0.86		0.82	OXM
PVH	0.45	0.22	0.37	-0.4	0.93	0.82		PVH
	VNCE	ZGN	COLM	GIL	GIII	OXM	PVH

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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

PVH	+ 0.93	GIII
OXM	+ 0.86	GIII
PVH	+ 0.82	OXM
GIL	+ 0.61	ZGN
COLM	+ 0.58	ZGN
OXM	+ 0.52	VNCE

High negative correlations

PVH	- 0.4	GIL
GIII	- 0.32	GIL
GIL	- 0.15	VNCE
OXM	- 0.11	GIL
COLM	- 0.02	VNCE

Risk-Adjusted Indicators

There is a big difference between Kontoor Stock performing well and Kontoor Brands 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 Kontoor Brands' 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	8.31	1.30	0.17	1.37	7.09	(12.13)	13.67	(13.24)	93.72
ZGN	1.94	(0.12)	0.00	(0.18)	0.00	0.00	5.43	(3.58)	11.60
COLM	1.37	(0.15)	0.00	(0.44)	0.00	0.00	2.41	(3.37)	10.58
GIL	1.09	(0.01)	0.00	(0.09)	0.00	0.00	2.54	(2.56)	8.64
GIII	1.70	(0.34)	0.00	(0.47)	0.00	0.00	3.00	(3.92)	9.63
OXM	2.09	(0.37)	0.00	(0.54)	0.00	0.00	4.93	(4.23)	16.04
PVH	1.78	(0.70)	0.00	(0.86)	0.00	0.00	2.44	(4.80)	10.85

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