Sally Beauty Correlations

SBH Stock

USD 8.59 0.09 1.06%

The current 90-days correlation between Sally Beauty Holdings and National Vision Holdings is 0.12 (i.e., Average diversification). The correlation of Sally Beauty 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.

Sally Beauty Correlation With Market

Modest diversification

The correlation between Sally Beauty Holdings and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sally Beauty Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sally Beauty Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Sally Stock

0.64	M	Macys Inc	Pair Corr
0.72	W	Wayfair Buyout Trend	Pair Corr
0.78	RH	RH Earnings Call This Week	Pair Corr
0.87	VSCO	Victorias Secret	Pair Corr
0.74	ETSY	Etsy Inc	Pair Corr
0.93	WOOF	Pet Acquisition LLC	Pair Corr
0.75	ASO	Academy Sports Outdoors	Pair Corr
0.82	XELB	Xcel Brands	Pair Corr
0.77	FND	Floor Decor Holdings	Pair Corr
0.81	KSS	Kohls Corp	Pair Corr
0.66	LOW	Lowes Companies	Pair Corr
0.66	GLBE	Global E Online	Pair Corr
0.79	JMIA	Jumia Technologies	Pair Corr
0.8	KIRK	Kirklands	Pair Corr
0.81	RENT	Rent the Runway	Pair Corr
0.8	BOOT	Boot Barn Holdings	Pair Corr
0.77	UCAR	U Power Limited	Pair Corr
0.88	ULTA	Ulta Beauty	Pair Corr

Moving against Sally Stock

0.9	BABA	Alibaba Group Holding	Pair Corr
0.82	MELI	MercadoLibre	Pair Corr
0.79	VIPS	Vipshop Holdings	Pair Corr
0.79	PDD	PDD Holdings Aggressive Push	Pair Corr
0.74	AZO	AutoZone	Pair Corr
0.71	ORLY	OReilly Automotive	Pair Corr
0.69	JWN	Nordstrom	Pair Corr
0.67	JD	JD Inc Adr	Pair Corr
0.48	GRPN	Groupon	Pair Corr
0.7	GHC	Graham Holdings	Pair Corr
0.67	DAO	Youdao Inc	Pair Corr
0.66	IH	Ihuman Inc	Pair Corr
0.65	DRI	Darden Restaurants	Pair Corr
0.62	DPZ	Dominos Pizza Common	Pair Corr
0.39	CPNG	Coupang LLC	Pair Corr

Related Correlations Analysis

	LESL	EYE	SPWH	HZO	ODP	FLWS	CASY	BGFV	CONN
LESL		-0.77	0.95	0.8	0.95	0.7	0.13	0.94	0.0	LESL
EYE	-0.77		-0.78	-0.39	-0.73	-0.38	0.32	-0.73	0.0	EYE
SPWH	0.95	-0.78		0.76	0.91	0.68	0.09	0.95	0.0	SPWH
HZO	0.8	-0.39	0.76		0.78	0.84	0.59	0.76	0.0	HZO
ODP	0.95	-0.73	0.91	0.78		0.65	0.12	0.91	0.0	ODP
FLWS	0.7	-0.38	0.68	0.84	0.65		0.53	0.68	0.0	FLWS
CASY	0.13	0.32	0.09	0.59	0.12	0.53		0.12	0.0	CASY
BGFV	0.94	-0.73	0.95	0.76	0.91	0.68	0.12		0.0	BGFV
CONN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CONN
	LESL	EYE	SPWH	HZO	ODP	FLWS	CASY	BGFV	CONN

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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

SPWH	+ 0.95	LESL
ODP	+ 0.95	LESL
BGFV	+ 0.95	SPWH
BGFV	+ 0.94	LESL
ODP	+ 0.91	SPWH
BGFV	+ 0.91	ODP

High negative correlations

SPWH	- 0.78	EYE
EYE	- 0.77	LESL
BGFV	- 0.73	EYE
ODP	- 0.73	EYE
HZO	- 0.39	EYE
FLWS	- 0.38	EYE

Risk-Adjusted Indicators

There is a big difference between Sally Stock performing well and Sally Beauty 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 Sally Beauty'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
LESL	3.69	(1.41)	0.00	(0.65)	0.00	0.00	5.48	(7.27)	33.16
EYE	2.20	0.31	0.11	0.20	2.50	(2.38)	4.71	(4.45)	16.13
SPWH	3.34	(1.25)	0.00	(0.92)	0.00	0.00	5.61	(6.69)	24.18
HZO	2.21	(0.29)	0.00	(0.24)	0.00	0.00	4.89	(4.95)	21.26
ODP	2.96	(0.83)	0.00	(1.49)	0.00	0.00	6.19	(6.61)	27.92
FLWS	2.76	(0.32)	0.00	(0.31)	0.00	0.00	5.36	(6.68)	15.19
CASY	1.45	0.01	0.00	(0.06)	0.00	0.00	2.76	(3.55)	10.41
BGFV	3.09	(0.64)	0.00	0.66	0.00	0.00	5.32	(4.97)	52.38
CONN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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