Movado Correlations

MOV Stock

USD 20.35 0.02 0.1%

The current 90-days correlation between Movado Group and Vince Holding Corp is 0.16 (i.e., Average diversification). The correlation of Movado 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.

Movado Correlation With Market

Weak diversification

The correlation between Movado Group and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Movado Group 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 Movado Group. 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.

Moving together with Movado Stock

0.61	VRA	Vera Bradley Earnings Call This Week	Pair Corr
0.67	WTO	UTime Limited	Pair Corr

Moving against Movado Stock

0.43	CHCI	Comstock Holding Com	Pair Corr
0.38	LI	Li Auto	Pair Corr
0.38	SN	SharkNinja,	Pair Corr

Related Correlations Analysis

	VFC	LEVI	COLM	OXM	GIII	VNCE
VFC		-0.26	0.21	-0.39	0.11	0.02	VFC
LEVI	-0.26		-0.05	0.61	0.01	0.54	LEVI
COLM	0.21	-0.05		0.33	0.06	-0.15	COLM
OXM	-0.39	0.61	0.33		-0.13	0.01	OXM
GIII	0.11	0.01	0.06	-0.13		0.3	GIII
VNCE	0.02	0.54	-0.15	0.01	0.3		VNCE
	VFC	LEVI	COLM	OXM	GIII	VNCE

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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

OXM	+ 0.61	LEVI
VNCE	+ 0.54	LEVI
OXM	+ 0.33	COLM
VNCE	+ 0.3	GIII
COLM	+ 0.21	VFC
GIII	+ 0.11	VFC

High negative correlations

OXM	- 0.39	VFC
LEVI	- 0.26	VFC
VNCE	- 0.15	COLM
GIII	- 0.13	OXM
COLM	- 0.05	LEVI

Risk-Adjusted Indicators

There is a big difference between Movado Stock performing well and Movado 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 Movado'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
VFC	2.61	0.20	0.04	0.68	2.83	(3.13)	5.06	(4.77)	33.97
LEVI	1.40	(0.20)	0.00	(0.12)	0.00	0.00	2.75	(2.83)	11.26
COLM	1.24	0.05	(0.02)	0.25	1.56	(1.20)	2.53	(2.36)	7.71
OXM	1.48	(0.17)	(0.07)	0.00	1.83	(1.58)	3.18	(3.12)	8.17
GIII	2.03	0.17	0.06	0.38	1.93	(2.49)	3.72	(4.17)	26.82
VNCE	2.88	(0.05)	(0.02)	0.07	3.73	(3.58)	6.29	(7.25)	35.35

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