Lowes Companies Correlations

Stocks . USA . 
Stock . Lowes Companies
LOW Stock  USD 273.19  1.28  0.47%   
The current 90-days correlation between Lowes Companies and Home Depot is 0.75 (i.e., Poor diversification). The correlation of Lowes Companies 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.

Lowes Companies Correlation With Market

Modest diversification

The correlation between Lowes Companies and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lowes Companies 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 Lowes Companies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.
For more information on how to buy Lowes Stock please use our How to Invest in Lowes Companies guide.

Moving together with Lowes Stock

  0.63M Macys IncPairCorr
  0.77BQ Boqii Holding LimitedPairCorr
  0.94HD Home Depot Sell-off TrendPairCorr
  0.81JD JD Inc Adr Aggressive PushPairCorr
  0.61LB LandBridge CompanyPairCorr
  0.73LE Lands End Earnings Call This WeekPairCorr
  0.8RH RH Earnings Call This WeekPairCorr
  0.67VIPS Vipshop HoldingsPairCorr
  0.72EBAY eBay IncPairCorr
  0.62EVGO Evgo IncPairCorr
  0.71WOOF Pet Acquisition LLC Buyout TrendPairCorr
  0.64FNKO Funko IncPairCorr
  0.68BBW Build A Bear Earnings Call This WeekPairCorr

Moving against Lowes Stock

  0.62FL Foot LockerPairCorr
  0.53DIBS 1StdibsComPairCorr
  0.42ETSY Etsy IncPairCorr
  0.67CAL ContinentalPairCorr
  0.63BGI Birks GroupPairCorr
  0.44DKS Dicks Sporting GoodsPairCorr
  0.4AAP Advance Auto PartsPairCorr
  0.37AZI Autozi Internet TechPairCorr

Related Correlations Analysis

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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   
LIVE
+ 0.86
LL
HVT
+ 0.83
ARHS
LIVE
+ 0.82
ARHS
LIVE
+ 0.77
HVT
ARHS
+ 0.74
FND
HVT
+ 0.74
FND
  
High negative correlations   
LIVE
- 0.75
HD
HD
- 0.66
LL
LIVE
- 0.64
TTSH
TTSH
- 0.51
LL
HD
- 0.44
ARHS
TTSH
- 0.37
HVT

Risk-Adjusted Indicators

There is a big difference between Lowes Stock performing well and Lowes Companies 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 Lowes Companies' 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.

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