Skechers USA Correlations

SKX Stock

USD 56.57 0.90 1.57%

The current 90-days correlation between Skechers USA and Crocs Inc is 0.34 (i.e., Weak diversification). The correlation of Skechers USA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Skechers USA Correlation With Market

Very weak diversification

The correlation between Skechers USA and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skechers USA 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 Skechers USA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy Skechers Stock please use our How to Invest in Skechers USA guide.

Moving together with Skechers Stock

0.75	FORD	Forward Industries	Pair Corr
0.79	CRI	Carters	Pair Corr
0.74	DHI	DR Horton	Pair Corr
0.88	KTB	Kontoor Brands	Pair Corr
0.71	NVR	NVR Inc	Pair Corr
0.88	WWW	Wolverine World Wide	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.75	WHR	Whirlpool	Pair Corr
0.81	PLAY	Dave Busters Enterta	Pair Corr
0.74	PRPL	Purple Innovation	Pair Corr
0.79	ARMK	Aramark Holdings	Pair Corr
0.64	COOK	Traeger	Pair Corr
0.67	PPERF	Bank Mandiri Persero	Pair Corr
0.73	PPERY	Bank Mandiri Persero	Pair Corr
0.63	BKRKY	Bank Rakyat	Pair Corr

Moving against Skechers Stock

0.55	HAS	Hasbro Inc	Pair Corr
0.54	MAT	Mattel Inc	Pair Corr
0.43	BZUN	Baozun Inc	Pair Corr
0.71	TTWO	Take Two Interactive	Pair Corr
0.7	CBYDF	Corby Spirit	Pair Corr
0.67	TCTZF	Tencent Holdings	Pair Corr
0.6	CDUAF	Canadian Utilities	Pair Corr
0.54	CDR-PB	Cedar Realty Trust	Pair Corr
0.54	DNCVF	Defiance Silver Corp	Pair Corr
0.52	TRGGF	Tarachi Gold Corp	Pair Corr
0.51	FWEDF	Fireweed Zinc	Pair Corr
0.49	NVRO	Nevro Corp Sell-off Trend	Pair Corr
0.49	AXSM	Axsome Therapeutics	Pair Corr
0.47	RBKB	Rhinebeck Bancorp	Pair Corr
0.45	GORO	Gold Resource	Pair Corr
0.45	RTMVF	Rightmove plc	Pair Corr

Related Correlations Analysis

	CROX	ONON	NKE	DBI	DECK	SHOO	WWW	WEYS	RCKY	VRA
CROX		0.16	0.26	0.38	0.45	0.46	0.31	0.31	0.11	0.39	CROX
ONON	0.16		-0.19	0.8	0.86	0.79	0.91	0.67	0.84	0.8	ONON
NKE	0.26	-0.19		-0.23	-0.19	-0.05	-0.28	0.07	-0.11	-0.05	NKE
DBI	0.38	0.8	-0.23		0.9	0.94	0.9	0.78	0.8	0.85	DBI
DECK	0.45	0.86	-0.19	0.9		0.9	0.95	0.7	0.72	0.84	DECK
SHOO	0.46	0.79	-0.05	0.94	0.9		0.89	0.88	0.84	0.88	SHOO
WWW	0.31	0.91	-0.28	0.9	0.95	0.89		0.69	0.77	0.87	WWW
WEYS	0.31	0.67	0.07	0.78	0.7	0.88	0.69		0.79	0.68	WEYS
RCKY	0.11	0.84	-0.11	0.8	0.72	0.84	0.77	0.79		0.75	RCKY
VRA	0.39	0.8	-0.05	0.85	0.84	0.88	0.87	0.68	0.75		VRA
	CROX	ONON	NKE	DBI	DECK	SHOO	WWW	WEYS	RCKY	VRA

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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

WWW	+ 0.95	DECK
SHOO	+ 0.94	DBI
WWW	+ 0.91	ONON
DECK	+ 0.9	DBI
WWW	+ 0.9	DBI
SHOO	+ 0.9	DECK

High negative correlations

WWW	- 0.28	NKE
DBI	- 0.23	NKE
DECK	- 0.19	NKE
NKE	- 0.19	ONON
RCKY	- 0.11	NKE
VRA	- 0.05	NKE

Risk-Adjusted Indicators

There is a big difference between Skechers Stock performing well and Skechers USA 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 Skechers USA'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
CROX	2.17	0.02	(0.05)	3.62	(3.88)	27.77
ONON	2.22	(0.22)	(0.29)	3.65	(5.62)	11.60
NKE	1.35	(0.06)	(0.17)	3.29	(2.80)	9.15
DBI	3.18	(0.47)	(0.59)	6.22	(6.58)	24.52
DECK	2.05	(0.69)	(0.66)	2.20	(4.41)	23.28
SHOO	1.46	(0.72)	(0.84)	1.46	(4.79)	13.44
WWW	1.92	(0.72)	(0.96)	2.73	(4.81)	20.32
WEYS	1.59	(0.09)	(0.19)	3.32	(2.99)	9.79
RCKY	1.93	(0.20)	(0.22)	2.65	(4.80)	16.71
VRA	3.66	(0.72)	(0.50)	6.33	(8.10)	23.24

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