Sleep Number Correlations

Stocks . USA . 
Stock . Sleep Number Corp
SNBR Stock  USD 6.95  0.36  4.92%   
The current 90-days correlation between Sleep Number Corp and Purple Innovation is 0.46 (i.e., Very weak diversification). The correlation of Sleep Number 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.

Sleep Number Correlation With Market

Weak diversification

The correlation between Sleep Number Corp and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sleep Number Corp 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 Sleep Number Corp. 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 Sleep Stock

  0.95W Wayfair Buyout TrendPairCorr
  0.67AN AutoNationPairCorr
  0.7BQ Boqii Holding LimitedPairCorr
  0.92HD Home DepotPairCorr
  0.67LE Lands End Earnings Call This WeekPairCorr
  0.94RH RH Earnings Call This WeekPairCorr
  0.79DLTH Duluth HoldingsPairCorr
  0.89WEYS Weyco GroupPairCorr
  0.9ETSY Etsy IncPairCorr
  0.75FIVE Five BelowPairCorr
  0.87FLWS 1 800 FLOWERSCOMPairCorr
  0.79AAP Advance Auto PartsPairCorr
  0.87FNKO Funko IncPairCorr
  0.8BBY Best BuyPairCorr
  0.85DBI Designer BrandsPairCorr
  0.87DKS Dicks Sporting GoodsPairCorr
  0.81GAP Gap, Symbol ChangePairCorr
  0.94GCO GenescoPairCorr
  0.9GCT GigaCloud TechnologyPairCorr
  0.61GES Guess IncPairCorr
  0.92LAD Lithia MotorsPairCorr
  0.88LOW Lowes CompaniesPairCorr
  0.61SAH Sonic AutomotivePairCorr
  0.63TLF Tandy Leather FactoryPairCorr
  0.8WSM Williams SonomaPairCorr
  0.9GLBE Global E OnlinePairCorr
  0.84JMIA Jumia TechnologiesPairCorr

Moving against Sleep Stock

  0.72VIPS Vipshop HoldingsPairCorr
  0.7AZO AutoZonePairCorr
  0.47JD JD Inc AdrPairCorr
  0.58GPC Genuine PartsPairCorr
  0.48PDD PDD Holdings Aggressive PushPairCorr
  0.4EYE National Vision HoldingsPairCorr
  0.69BABA Alibaba Group HoldingPairCorr
  0.39ORLY OReilly AutomotivePairCorr
  0.37MELI MercadoLibrePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
LEG
+ 0.87
MHK
COOK
+ 0.86
LEG
COOK
+ 0.86
FLXS
LEG
+ 0.82
LZB
ETD
+ 0.79
LZB
FLXS
+ 0.76
LEG
  
High negative correlations   
FLXS
- 0.78
BSET
BSET
- 0.72
LEG
COOK
- 0.69
BSET
BSET
- 0.59
MHK
BSET
- 0.5
LZB
BSET
- 0.44
PRPL

Risk-Adjusted Indicators

There is a big difference between Sleep Stock performing well and Sleep Number 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 Sleep Number'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PRPL  3.94  0.27  0.03  0.02  4.06 
(5.50)
 6.67 
(7.04)
 41.92 
MHK  1.44 (0.12) 0.00 (0.18) 0.00 
 0.00 
 3.05 
(2.85)
 8.27 
LZB  1.46 (0.14) 0.00 (0.21) 0.00 
 0.00 
 2.96 
(3.84)
 9.42 
LEG  1.81 (0.37) 0.00 (0.36) 0.00 
 0.00 
 3.39 
(3.81)
 10.46 
BSET  1.41  0.18  0.11  1.08  1.83 
(1.51)
 3.43 
(2.82)
 10.89 
ETD  1.25 (0.05) 0.00 (0.13) 0.00 
 0.00 
 2.04 
(2.52)
 14.02 
NTZ  2.85  0.05  0.04 (0.17) 3.26 
(3.72)
 6.75 
(5.80)
 24.28 
FLXS  2.56 (0.59) 0.00 (0.47) 0.00 
 0.00 
 4.30 
(5.34)
 37.91 
KBAL  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
 0.00 
 0.00 
COOK  2.24 (0.66) 0.00 (0.49) 0.00 
 0.00 
 4.10 
(6.67)
 19.39 

Sleep Number Corporate Executives

Elected by the shareholders, the Sleep Number's board of directors comprises two types of representatives: Sleep Number inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sleep. The board's role is to monitor Sleep Number's management team and ensure that shareholders' interests are well served. Sleep Number's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sleep Number's outside directors are responsible for providing unbiased perspectives on the board's policies.
Francis LeeExecutive CFOProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY