Sweetgreen Correlations

SG Stock

USD 23.64 0.48 1.99%

The current 90-days correlation between Sweetgreen and Cannae Holdings is 0.08 (i.e., Significant diversification). The correlation of Sweetgreen 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.

Sweetgreen Correlation With Market

Average diversification

The correlation between Sweetgreen and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sweetgreen 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 Sweetgreen. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more detail on how to invest in Sweetgreen Stock please use our How to Invest in Sweetgreen guide.

Moving together with Sweetgreen Stock

0.78	H	Hyatt Hotels	Pair Corr
0.88	WW	WW International	Pair Corr
0.74	DNUT	Krispy Kreme Buyout Trend	Pair Corr
0.64	CCL	Carnival Earnings Call This Week	Pair Corr
0.85	CMG	Chipotle Mexican Grill	Pair Corr
0.63	CUK	Carnival Plc ADS	Pair Corr
0.75	GAN	Gan	Pair Corr

Moving against Sweetgreen Stock

0.64	DPZ	Dominos Pizza Common	Pair Corr
0.63	CDROW	Codere Online Luxembourg	Pair Corr
0.55	EM	Smart Share Global	Pair Corr
0.44	EVRI	Everi Holdings	Pair Corr
0.43	WYNN	Wynn Resorts Limited	Pair Corr
0.37	DKNG	DraftKings	Pair Corr
0.33	AGS	PlayAGS	Pair Corr
0.33	FAT	FAT Brands	Pair Corr
0.83	LNW	Light Wonder	Pair Corr
0.75	MCD	McDonalds Sell-off Trend	Pair Corr
0.75	FATBW	FAT Brands	Pair Corr
0.69	LTH	Life Time Group	Pair Corr
0.62	BTBDW	BT Brands Warrant	Pair Corr
0.55	GHG	GreenTree Hospitality Earnings Call This Week	Pair Corr
0.48	IGT	International Game	Pair Corr
0.46	QSR	Restaurant Brands	Pair Corr
0.36	RRR	Red Rock Resorts	Pair Corr

Related Correlations Analysis

	CNNE	EAT	RUTH	JACK	BH	WING	PZZA	CMG	WEN	DPZ
CNNE		0.48	0.0	0.84	0.74	0.34	-0.26	0.77	-0.41	0.09	CNNE
EAT	0.48		0.0	0.45	0.2	0.17	-0.14	0.29	-0.66	0.46	EAT
RUTH	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RUTH
JACK	0.84	0.45	0.0		0.6	0.37	-0.41	0.79	-0.43	-0.08	JACK
BH	0.74	0.2	0.0	0.6		0.2	0.05	0.62	-0.01	0.07	BH
WING	0.34	0.17	0.0	0.37	0.2		-0.36	0.44	0.06	-0.13	WING
PZZA	-0.26	-0.14	0.0	-0.41	0.05	-0.36		-0.64	0.33	0.62	PZZA
CMG	0.77	0.29	0.0	0.79	0.62	0.44	-0.64		-0.32	-0.31	CMG
WEN	-0.41	-0.66	0.0	-0.43	-0.01	0.06	0.33	-0.32		-0.15	WEN
DPZ	0.09	0.46	0.0	-0.08	0.07	-0.13	0.62	-0.31	-0.15		DPZ
	CNNE	EAT	RUTH	JACK	BH	WING	PZZA	CMG	WEN	DPZ

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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

JACK	+ 0.84	CNNE
CMG	+ 0.79	JACK
CMG	+ 0.77	CNNE
BH	+ 0.74	CNNE
CMG	+ 0.62	BH
DPZ	+ 0.62	PZZA

High negative correlations

WEN	- 0.66	EAT
CMG	- 0.64	PZZA
WEN	- 0.43	JACK
PZZA	- 0.41	JACK
WEN	- 0.41	CNNE
PZZA	- 0.36	WING

Risk-Adjusted Indicators

There is a big difference between Sweetgreen Stock performing well and Sweetgreen 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 Sweetgreen'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
CNNE	1.28	(0.17)	0.00	(0.26)	0.00	0.00	2.31	(4.05)	7.93
EAT	2.69	0.28	0.07	0.09	3.31	(2.92)	5.66	(5.64)	24.04
RUTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JACK	2.56	(0.19)	0.00	(0.33)	0.00	0.00	4.77	(6.91)	21.61
BH	1.83	(0.11)	0.00	(0.18)	0.00	0.00	3.12	(4.36)	12.16
WING	2.28	(0.52)	0.00	(0.46)	0.00	0.00	2.81	(5.87)	17.94
PZZA	2.91	0.43	0.14	0.42	3.04	(3.31)	8.07	(5.45)	25.57
CMG	1.38	(0.34)	0.00	(0.46)	0.00	0.00	2.67	(3.75)	7.51
WEN	1.18	(0.13)	0.00	(0.59)	0.00	0.00	3.46	(2.70)	7.39
DPZ	1.57	0.11	0.06	0.02	1.97	(1.75)	3.48	(3.10)	12.17

Sweetgreen Corporate Management

Michael Kotick	SVP Marketing	Profile
Rossann Williams	Chief Officer	Profile
Chad Brauze	Head Culinary	Profile
Rebecca Nounou	Head Relations	Profile
Daniel Shlossman	Chief Officer	Profile
Christopher Tarrant	Senior Officer	Profile
Jonathan Neman	Chairman, CoFounder	Profile

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