Shoe Carnival Correlations

SCVL Stock

USD 22.44 0.21 0.93%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shoe Carnival moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shoe Carnival moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shoe Carnival Correlation With Market

Average diversification

The correlation between Shoe Carnival and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shoe Carnival 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 Shoe Carnival. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Shoe Stock

0.63	W	Wayfair	Pair Corr
0.9	LE	Lands End Earnings Call This Week	Pair Corr
0.68	RH	RH Earnings Call This Week	Pair Corr
0.76	DLTH	Duluth Holdings	Pair Corr
0.68	ETSY	Etsy Inc	Pair Corr
0.89	FIVE	Five Below	Pair Corr
0.97	CAL	Continental	Pair Corr
0.82	DBI	Designer Brands Buyout Trend	Pair Corr
0.72	GAP	Gap, Symbol Change	Pair Corr
0.67	GCO	Genesco	Pair Corr
0.89	GES	Guess Inc Trending	Pair Corr
0.93	ZUMZ	Zumiez Inc	Pair Corr
0.78	JMIA	Jumia Technologies	Pair Corr

Moving against Shoe Stock

0.82	VIPS	Vipshop Holdings	Pair Corr
0.79	JD	JD Inc Adr Aggressive Push	Pair Corr
0.79	AZO	AutoZone	Pair Corr
0.37	JL	J Long Group	Pair Corr
0.33	ABG	Asbury Automotive	Pair Corr
0.87	PDD	PDD Holdings Buyout Trend	Pair Corr
0.71	EYE	National Vision Holdings	Pair Corr
0.69	GPC	Genuine Parts	Pair Corr
0.39	PAG	Penske Automotive	Pair Corr
0.32	GPI	Group 1 Automotive	Pair Corr
0.9	BABA	Alibaba Group Holding	Pair Corr
0.88	MELI	MercadoLibre	Pair Corr
0.83	ORLY	OReilly Automotive	Pair Corr
0.61	BZUN	Baozun Inc	Pair Corr

Related Correlations Analysis

	HIBB	CTRN	ZUMZ	BKE	CATO	GCO	BURL	PLCE	GES
HIBB		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HIBB
CTRN	0.0		0.41	0.66	0.7	0.83	0.52	0.53	0.51	CTRN
ZUMZ	0.0	0.41		0.81	0.73	0.66	0.79	0.84	0.91	ZUMZ
BKE	0.0	0.66	0.81		0.86	0.88	0.95	0.85	0.88	BKE
CATO	0.0	0.7	0.73	0.86		0.81	0.79	0.7	0.78	CATO
GCO	0.0	0.83	0.66	0.88	0.81		0.76	0.78	0.7	GCO
BURL	0.0	0.52	0.79	0.95	0.79	0.76		0.79	0.82	BURL
PLCE	0.0	0.53	0.84	0.85	0.7	0.78	0.79		0.85	PLCE
GES	0.0	0.51	0.91	0.88	0.78	0.7	0.82	0.85		GES
	HIBB	CTRN	ZUMZ	BKE	CATO	GCO	BURL	PLCE	GES

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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

BURL	+ 0.95	BKE
GES	+ 0.91	ZUMZ
GCO	+ 0.88	BKE
GES	+ 0.88	BKE
CATO	+ 0.86	BKE
PLCE	+ 0.85	BKE

High negative correlations

GES	- 0.0	HIBB
PLCE	- 0.0	HIBB
BURL	- 0.0	HIBB
GCO	- 0.0	HIBB
CATO	- 0.0	HIBB
BKE	- 0.0	HIBB

Risk-Adjusted Indicators

There is a big difference between Shoe Stock performing well and Shoe Carnival 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 Shoe Carnival'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HIBB	0.00	0.00	0.00	0.00	0.00	0.00
CTRN	2.55	(0.11)	(0.17)	3.63	(5.96)	24.44
ZUMZ	2.37	(0.44)	(0.45)	4.54	(5.74)	16.30
BKE	1.40	(0.32)	(0.41)	2.25	(3.03)	5.86
CATO	2.67	(0.11)	1.00	6.16	(4.26)	16.95
GCO	2.64	(0.79)	(0.52)	5.07	(6.50)	22.52
BURL	1.79	(0.21)	(0.38)	3.32	(3.62)	15.50
PLCE	3.24	(0.61)	(0.40)	5.50	(10.19)	33.45
GES	2.78	(0.16)	(0.18)	3.97	(6.82)	33.51

Shoe Carnival Corporate Management

Carl Scibetta	Executive VP and General Merchandise Manager	Profile
John Dodson	Senior Operations	Profile
Deborah Hannah	Senior Communications	Profile
Angela Brawdy	Vice Resources	Profile
Terry Clements	Chief VP	Profile

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