Purple Innovation Correlations

PRPL Stock

USD 0.88 0.03 3.53%

The current 90-days correlation between Purple Innovation and Ethan Allen Interiors is -0.13 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purple Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purple Innovation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purple Innovation Correlation With Market

Good diversification

The correlation between Purple Innovation and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purple Innovation 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 Purple Innovation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Purple Stock please use our How to buy in Purple Stock guide.

Moving together with Purple Stock

0.78	SN	SharkNinja,	Pair Corr
0.79	LEG	Leggett Platt	Pair Corr
0.86	MBC	MasterBrand	Pair Corr
0.66	MHK	Mohawk Industries	Pair Corr
0.73	PATK	Patrick Industries	Pair Corr
0.72	SNBR	Sleep Number Corp	Pair Corr
0.62	W	Wayfair	Pair Corr

Moving against Purple Stock

0.45	VIOT	Viomi Technology ADR Earnings Call Tomorrow	Pair Corr
0.45	EFOI	Energy Focu	Pair Corr
0.38	HBB	Hamilton Beach Brands	Pair Corr
0.45	BSET	Bassett Furniture	Pair Corr

Related Correlations Analysis

	TPX	LZB	MBC	ETD	HBB	KBAL	LCUT	SNBR	MHK	LEG
TPX		-0.46	-0.28	-0.64	0.12	0.0	0.46	-0.23	0.14	-0.11	TPX
LZB	-0.46		0.75	0.79	-0.55	0.0	0.24	0.77	0.62	0.73	LZB
MBC	-0.28	0.75		0.7	-0.52	0.0	0.5	0.69	0.79	0.79	MBC
ETD	-0.64	0.79	0.7		-0.35	0.0	0.04	0.44	0.44	0.41	ETD
HBB	0.12	-0.55	-0.52	-0.35		0.0	-0.27	-0.64	-0.31	-0.62	HBB
KBAL	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	KBAL
LCUT	0.46	0.24	0.5	0.04	-0.27	0.0		0.46	0.64	0.6	LCUT
SNBR	-0.23	0.77	0.69	0.44	-0.64	0.0	0.46		0.53	0.93	SNBR
MHK	0.14	0.62	0.79	0.44	-0.31	0.0	0.64	0.53		0.67	MHK
LEG	-0.11	0.73	0.79	0.41	-0.62	0.0	0.6	0.93	0.67		LEG
	TPX	LZB	MBC	ETD	HBB	KBAL	LCUT	SNBR	MHK	LEG

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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

LEG	+ 0.93	SNBR
ETD	+ 0.79	LZB
MHK	+ 0.79	MBC
LEG	+ 0.79	MBC
SNBR	+ 0.77	LZB
MBC	+ 0.75	LZB

High negative correlations

SNBR	- 0.64	HBB
ETD	- 0.64	TPX
LEG	- 0.62	HBB
HBB	- 0.55	LZB
HBB	- 0.52	MBC
LZB	- 0.46	TPX

Risk-Adjusted Indicators

There is a big difference between Purple Stock performing well and Purple Innovation 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 Purple Innovation'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
TPX	1.54	0.61	0.49	1.93	0.77	(2.01)	3.77	(1.91)	9.17
LZB	1.46	(0.14)	0.00	(0.21)	0.00	0.00	2.96	(3.84)	9.42
MBC	1.77	(0.21)	0.00	(0.28)	0.00	0.00	3.14	(4.35)	10.11
ETD	1.25	(0.05)	0.00	(0.13)	0.00	0.00	2.04	(2.52)	14.02
HBB	2.23	0.24	0.09	0.20	2.54	(2.35)	5.34	(4.38)	17.62
KBAL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LCUT	2.56	(0.08)	0.00	3.19	0.00	0.00	5.20	(5.32)	16.76
SNBR	4.25	(1.15)	0.00	1.03	0.00	0.00	8.11	(9.81)	51.43
MHK	1.44	(0.12)	0.00	(0.18)	0.00	0.00	3.05	(2.85)	8.27
LEG	1.75	(0.27)	0.00	1.23	0.00	0.00	3.39	(3.51)	10.46

Purple Innovation Corporate Management

John IV	Chief Officer	Profile
Jeff Hutchings	Chief Officer	Profile
Tricia McDermottSpikes	Chief Secretary	Profile
Todd CPA	Chief Officer	Profile
Verdi III	Chief Officer	Profile
Robert DeMartini	CEO Director	Profile
Casey McGarvey	Chief Legal Officer	Profile

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