Pinstripes Holdings Correlations

PNST Stock

0.08 0.01 23.08%

The current 90-days correlation between Pinstripes Holdings and SmartStop Self Storage is -0.01 (i.e., Good diversification). The correlation of Pinstripes Holdings 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.

Pinstripes Holdings Correlation With Market

Weak diversification

The correlation between Pinstripes Holdings and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pinstripes Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Pinstripes Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pinstripes Holdings when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Pinstripes Holdings - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Pinstripes Holdings to buy it.

Moving together with Pinstripes Pink Sheet

0.81	SG	Sweetgreen	Pair Corr
0.9	WING	Wingstop	Pair Corr
0.91	CMG	Chipotle Mexican Grill	Pair Corr
0.79	DIN	Dine Brands Global	Pair Corr
0.7	GENK	GEN Restaurant Group,	Pair Corr
0.73	RICK	RCI Hospitality Holdings	Pair Corr
0.83	JACK	Jack In	Pair Corr
0.89	SHAK	Shake Shack	Pair Corr

Moving against Pinstripes Pink Sheet

0.59	FATBW	FAT Brands	Pair Corr
0.55	NATH	Nathans Famous	Pair Corr
0.51	DRI	Darden Restaurants Earnings Call This Week	Pair Corr
0.38	NDLS	Noodles Company	Pair Corr
0.73	YOSH	Yoshiharu Global Trending	Pair Corr
0.68	YUM	Yum Brands	Pair Corr
0.57	REBN	Reborn Coffee	Pair Corr
0.53	FATBP	FAT Brands	Pair Corr
0.47	PTLO	Portillos	Pair Corr
0.41	BROS	Dutch Bros	Pair Corr
0.32	SBUX	Starbucks	Pair Corr

Related Correlations Analysis

	STSFF	CDW	PINS	WETO	MYTE	NTSGF	FDS	GPC
STSFF		0.27	-0.38	0.32	-0.23	0.17	0.17	-0.39	STSFF
CDW	0.27		0.36	0.47	0.36	0.24	0.14	-0.26	CDW
PINS	-0.38	0.36		-0.1	0.88	-0.17	-0.36	0.49	PINS
WETO	0.32	0.47	-0.1		-0.25	0.54	0.55	-0.54	WETO
MYTE	-0.23	0.36	0.88	-0.25		-0.45	-0.53	0.47	MYTE
NTSGF	0.17	0.24	-0.17	0.54	-0.45		0.62	-0.12	NTSGF
FDS	0.17	0.14	-0.36	0.55	-0.53	0.62		-0.44	FDS
GPC	-0.39	-0.26	0.49	-0.54	0.47	-0.12	-0.44		GPC
	STSFF	CDW	PINS	WETO	MYTE	NTSGF	FDS	GPC

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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

MYTE	+ 0.88	PINS
FDS	+ 0.62	NTSGF
FDS	+ 0.55	WETO
NTSGF	+ 0.54	WETO
GPC	+ 0.49	PINS
WETO	+ 0.47	CDW

High negative correlations

GPC	- 0.54	WETO
FDS	- 0.53	MYTE
NTSGF	- 0.45	MYTE
GPC	- 0.44	FDS
GPC	- 0.39	STSFF
PINS	- 0.38	STSFF

Risk-Adjusted Indicators

There is a big difference between Pinstripes Pink Sheet performing well and Pinstripes Holdings 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 Pinstripes Holdings' 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
STSFF	0.55	(0.04)	0.00	0.20	0.00	0.00	0.59	0.00	25.31
CDW	1.24	(0.02)	0.00	(0.13)	0.00	0.00	2.47	(3.09)	7.33
PINS	2.15	0.12	0.06	0.04	2.51	(2.67)	5.04	(4.63)	26.52
WETO	2.65	(0.06)	0.00	(0.21)	0.00	0.00	4.44	(10.00)	10.00
MYTE	3.36	0.68	0.20	0.57	2.94	(4.22)	10.50	(5.70)	30.56
NTSGF	0.89	(0.40)	0.00	1.15	0.00	0.00	0.78	(3.73)	11.83
FDS	0.87	(0.08)	0.00	(0.24)	0.00	0.00	1.78	(2.00)	6.44
GPC	1.10	0.05	0.07	(0.01)	1.47	(1.07)	2.03	(2.36)	6.97

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Our tools can tell you how much better you can do entering a position in Pinstripes Holdings without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Pinstripes Holdings Corporate Management

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