Nathans Famous Correlations

NATH Stock  USD 100.91  1.00  0.98%   
The current 90-days correlation between Nathans Famous and Good Times Restaurants is 0.19 (i.e., Average diversification). The correlation of Nathans Famous 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.

Nathans Famous Correlation With Market

Modest diversification

The correlation between Nathans Famous and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nathans Famous 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 Nathans Famous. 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 more detail on how to invest in Nathans Stock please use our How to Invest in Nathans Famous guide.

Moving together with Nathans Stock

  0.62LTH Life Time Group Buyout TrendPairCorr
  0.83MCD McDonaldsPairCorr
  0.91YUM Yum BrandsPairCorr
  0.61GPC Genuine PartsPairCorr
  0.83MAT Mattel IncPairCorr
  0.77CPNG Coupang LLCPairCorr
  0.94KO Coca Cola Aggressive PushPairCorr
  0.72KOREF KORE MiningPairCorr
  0.64AAMMF Almadex MineralsPairCorr

Moving against Nathans Stock

  0.77SDA SunCar TechnologyPairCorr
  0.71TSLA Tesla IncPairCorr
  0.69MODG Callaway GolfPairCorr
  0.67JOUT Johnson OutdoorsPairCorr
  0.62DBI Designer BrandsPairCorr
  0.53PLNT Planet FitnessPairCorr
  0.52PPERF Bank Mandiri PerseroPairCorr
  0.49PPERY Bank Mandiri PerseroPairCorr
  0.43GOLF Acushnet Holdings CorpPairCorr
  0.33TLKMF Telkom Indonesia TbkPairCorr
  0.65MRK Merck Company Aggressive PushPairCorr
  0.43PBCRY Bank Central AsiaPairCorr
  0.41CAT CaterpillarPairCorr
  0.4PBCRF PT Bank CentralPairCorr
  0.39PTAIY Astra International TbkPairCorr
  0.36TLK Telkom Indonesia TbkPairCorr

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   
FATBBNROM
LOCOGTIM
BDVBGTIM
FATBBBDL
ARKRNROM
BDLNROM
  
High negative correlations   
FATBBBDVB
BDLBDVB
ARKRLOCO
BHBDVB
BHGTIM
FATBBGTIM

Risk-Adjusted Indicators

There is a big difference between Nathans Stock performing well and Nathans Famous 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 Nathans Famous' 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.

Nathans Famous Corporate Executives

Elected by the shareholders, the Nathans Famous' board of directors comprises two types of representatives: Nathans Famous inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nathans. The board's role is to monitor Nathans Famous' management team and ensure that shareholders' interests are well served. Nathans Famous' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nathans Famous' outside directors are responsible for providing unbiased perspectives on the board's policies.