Shake Shack Correlations

SHAK Stock

USD 89.98 0.24 0.27%

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

Shake Shack Correlation With Market

Good diversification

The correlation between Shake Shack and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shake Shack 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 Shake Shack. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Shake Stock

0.65	BH	Biglari Holdings	Pair Corr
0.76	SG	Sweetgreen	Pair Corr
0.75	WING	Wingstop	Pair Corr
0.72	GENK	GEN Restaurant Group,	Pair Corr
0.89	PNST	Pinstripes Holdings	Pair Corr
0.96	RICK	RCI Hospitality Holdings	Pair Corr
0.69	RRGB	Red Robin Gourmet	Pair Corr
0.79	JACK	Jack In	Pair Corr
0.65	ARKR	Ark Restaurants Corp	Pair Corr

Moving against Shake Stock

0.67	NATH	Nathans Famous	Pair Corr
0.58	MCD	McDonalds	Pair Corr
0.55	QSR	Restaurant Brands	Pair Corr
0.43	NDLS	Noodles Company	Pair Corr
0.42	DPZ	Dominos Pizza Common	Pair Corr
0.87	YOSH	Yoshiharu Global	Pair Corr
0.66	YUM	Yum Brands	Pair Corr
0.62	YUMC	Yum China Holdings Sell-off Trend	Pair Corr
0.61	REBN	Reborn Coffee	Pair Corr
0.56	PTLO	Portillos	Pair Corr
0.55	PZZA	Papa Johns International	Pair Corr
0.48	RAVE	Rave Restaurant Group	Pair Corr
0.37	SBUX	Starbucks	Pair Corr
0.61	ARCO	Arcos Dorados Holdings	Pair Corr

Related Correlations Analysis

	DPZ	PZZA	CMG	DRI	EAT	JACK	WEN	WING	MCD	SBUX
DPZ		0.67	-0.28	0.75	0.39	-0.1	-0.17	-0.24	0.71	0.83	DPZ
PZZA	0.67		-0.35	0.44	-0.05	-0.43	0.22	-0.54	0.83	0.55	PZZA
CMG	-0.28	-0.35		-0.21	-0.03	0.25	0.08	0.41	-0.53	-0.34	CMG
DRI	0.75	0.44	-0.21		0.77	0.12	-0.22	0.05	0.46	0.88	DRI
EAT	0.39	-0.05	-0.03	0.77		0.3	-0.55	0.42	-0.03	0.71	EAT
JACK	-0.1	-0.43	0.25	0.12	0.3		-0.08	0.82	-0.36	-0.06	JACK
WEN	-0.17	0.22	0.08	-0.22	-0.55	-0.08		-0.3	0.21	-0.4	WEN
WING	-0.24	-0.54	0.41	0.05	0.42	0.82	-0.3		-0.51	-0.1	WING
MCD	0.71	0.83	-0.53	0.46	-0.03	-0.36	0.21	-0.51		0.52	MCD
SBUX	0.83	0.55	-0.34	0.88	0.71	-0.06	-0.4	-0.1	0.52		SBUX
	DPZ	PZZA	CMG	DRI	EAT	JACK	WEN	WING	MCD	SBUX

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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

SBUX	+ 0.88	DRI
SBUX	+ 0.83	DPZ
MCD	+ 0.83	PZZA
WING	+ 0.82	JACK
EAT	+ 0.77	DRI
DRI	+ 0.75	DPZ

High negative correlations

WEN	- 0.55	EAT
WING	- 0.54	PZZA
MCD	- 0.53	CMG
MCD	- 0.51	WING
JACK	- 0.43	PZZA
SBUX	- 0.4	WEN

Risk-Adjusted Indicators

There is a big difference between Shake Stock performing well and Shake Shack 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 Shake Shack'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
DPZ	1.59	0.11	0.06	0.04	1.97	(1.80)	3.48	(3.10)	12.17
PZZA	2.85	0.38	0.14	1.21	2.96	(3.31)	5.55	(5.03)	25.57
CMG	1.42	(0.38)	0.00	(0.57)	0.00	0.00	2.51	(3.75)	7.51
DRI	1.12	0.01	0.06	(0.12)	1.50	(1.11)	2.67	(2.00)	9.40
EAT	2.76	0.09	0.07	(0.17)	3.19	(3.22)	5.96	(5.64)	24.04
JACK	2.47	(0.33)	0.00	(0.55)	0.00	0.00	4.17	(6.82)	21.61
WEN	1.20	(0.14)	0.00	0.34	0.00	0.00	3.46	(2.70)	7.39
WING	2.22	(0.54)	0.00	0.45	0.00	0.00	2.81	(5.34)	17.94
MCD	0.91	0.10	0.12	0.13	1.09	(0.98)	1.92	(1.76)	8.10
SBUX	1.21	0.22	0.15	60.08	1.72	(1.29)	2.25	(2.69)	13.70

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