PetMed Express Correlations

PETS Stock

USD 4.63 0.07 1.49%

The current 90-days correlation between PetMed Express and High Tide is 0.04 (i.e., Significant diversification). The correlation of PetMed Express 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.

PetMed Express Correlation With Market

Weak diversification

The correlation between PetMed Express and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PetMed Express and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PetMed Express. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For more information on how to buy PetMed Stock please use our How to Invest in PetMed Express guide.

Moving together with PetMed Stock

0.64	HITI	High Tide Upward Rally	Pair Corr
0.61	SCNX	Scienture Holdings, Symbol Change	Pair Corr
0.62	K	Kellanova	Pair Corr
0.71	BJ	BJs Wholesale Club	Pair Corr
0.83	KR	Kroger Company Earnings Call This Week	Pair Corr
0.84	LW	Lamb Weston Holdings	Pair Corr

Moving against PetMed Stock

0.85	KO	Coca Cola Aggressive Push	Pair Corr
0.83	CL	Colgate Palmolive Sell-off Trend	Pair Corr
0.73	EL	Estee Lauder Companies	Pair Corr
0.72	LFLY	Leafly Holdings	Pair Corr
0.7	BG	Bunge Limited	Pair Corr
0.52	GV	Visionary Education	Pair Corr
0.83	UL	Unilever PLC ADR	Pair Corr
0.77	UG	United Guardian	Pair Corr
0.67	EDBL	Edible Garden AG	Pair Corr
0.58	EDTK	Skillful Craftsman	Pair Corr
0.48	DTCK	Davis Commodities	Pair Corr
0.48	WAFU	Wah Fu Education	Pair Corr
0.4	PG	Procter Gamble Sell-off Trend	Pair Corr
0.39	EAST	Eastside Distilling	Pair Corr
0.32	DLTR	Dollar Tree Earnings Call This Week	Pair Corr
0.31	YQ	17 Education Technology	Pair Corr
0.31	DOLE	Dole PLC	Pair Corr

Related Correlations Analysis

	RAD	HITI	CJJD	BIMI	WBA	YI	MEDS	MDVL	SSY	LFLY
RAD		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	RAD
HITI	0.0		0.55	0.0	0.43	0.05	-0.22	0.0	0.41	-0.58	HITI
CJJD	0.0	0.55		0.0	0.1	0.28	-0.24	0.0	0.3	-0.36	CJJD
BIMI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BIMI
WBA	0.0	0.43	0.1	0.0		0.22	0.03	0.0	0.13	-0.01	WBA
YI	0.0	0.05	0.28	0.0	0.22		0.17	0.0	0.12	0.16	YI
MEDS	0.0	-0.22	-0.24	0.0	0.03	0.17		0.0	0.07	0.46	MEDS
MDVL	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MDVL
SSY	0.0	0.41	0.3	0.0	0.13	0.12	0.07	0.0		0.25	SSY
LFLY	0.0	-0.58	-0.36	0.0	-0.01	0.16	0.46	0.0	0.25		LFLY
	RAD	HITI	CJJD	BIMI	WBA	YI	MEDS	MDVL	SSY	LFLY

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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

CJJD	+ 0.55	HITI
LFLY	+ 0.46	MEDS
WBA	+ 0.43	HITI
SSY	+ 0.41	HITI
SSY	+ 0.3	CJJD
YI	+ 0.28	CJJD

High negative correlations

LFLY	- 0.58	HITI
LFLY	- 0.36	CJJD
MEDS	- 0.24	CJJD
MEDS	- 0.22	HITI
LFLY	- 0.01	WBA
LFLY	- 0.0	MDVL

Risk-Adjusted Indicators

There is a big difference between PetMed Stock performing well and PetMed Express 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 PetMed Express' 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
RAD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HITI	2.90	0.93	0.25	(1.40)	2.50	(3.62)	7.80	(3.64)	18.60
CJJD	4.77	0.48	0.07	1.59	5.12	(5.80)	10.96	(8.48)	38.42
BIMI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WBA	2.40	0.10	(0.01)	5.27	2.58	(2.96)	5.22	(4.06)	22.71
YI	5.49	0.59	0.09	3.09	4.79	(8.26)	16.07	(9.52)	58.17
MEDS	3.17	0.10	(0.03)	0.00	3.90	(3.54)	7.62	(4.07)	11.86
MDVL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SSY	3.10	0.26	0.02	(0.40)	3.49	(4.18)	7.59	(8.05)	20.59
LFLY	3.70	(0.33)	0.00	(0.30)	0.00	0.00	6.98	(7.60)	51.83

PetMed Express Corporate Management

Mark Moseley	Chief Officer	Profile
Carla Dodds	Chief Officer	Profile
Matthew Hulett	Pres CEO	Profile
Umesh Sripad	Chief Officer	Profile
Christine Chambers	Treasurer Secretary	Profile

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