Tapestry Correlations

TPR Stock

USD 70.97 0.25 0.35%

The current 90-days correlation between Tapestry and Signet Jewelers is 0.08 (i.e., Significant diversification). The correlation of Tapestry 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.

Tapestry Correlation With Market

Weak diversification

The correlation between Tapestry and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tapestry 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 Tapestry. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

To learn how to invest in Tapestry Stock, please use our How to Invest in Tapestry guide.

Moving together with Tapestry Stock

0.9	RL	Ralph Lauren Corp Sell-off Trend	Pair Corr
0.82	GIL	Gildan Activewear	Pair Corr
0.81	MAT	Mattel Inc	Pair Corr

Moving against Tapestry Stock

0.73	UA	Under Armour C	Pair Corr
0.73	EZGO	EZGO Technologies	Pair Corr
0.72	DOGZ	Dogness International	Pair Corr
0.72	WLDS	Wearable Devices	Pair Corr
0.72	DHI	DR Horton	Pair Corr
0.7	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.68	HBI	Hanesbrands	Pair Corr
0.67	HWH	HWH International	Pair Corr
0.66	BZH	Beazer Homes USA	Pair Corr
0.6	VMAR	Vision Marine Techno	Pair Corr
0.54	DFH	Dream Finders Homes	Pair Corr
0.52	FOSL	Fossil Group	Pair Corr
0.51	HOV	Hovnanian Enterprises	Pair Corr
0.5	FEBO	Fenbo Holdings	Pair Corr
0.46	CCS	Century Communities	Pair Corr
0.45	BC	Brunswick	Pair Corr
0.45	CRI	Carters	Pair Corr
0.38	DTC	Solo Brands	Pair Corr
0.81	PII	Polaris Industries	Pair Corr
0.79	NVR	NVR Inc	Pair Corr
0.76	UAA	Under Armour A	Pair Corr
0.74	MHO	MI Homes	Pair Corr
0.74	PVH	PVH Corp	Pair Corr
0.69	LEN	Lennar	Pair Corr
0.63	TPH	TRI Pointe Homes	Pair Corr
0.58	KBH	KB Home	Pair Corr
0.57	PHM	PulteGroup Sell-off Trend	Pair Corr
0.55	MTH	Meritage	Pair Corr
0.53	REE	Ree Automotive Holding	Pair Corr

Related Correlations Analysis

	SIG	MOV	LANV	REAL	FOSL	CPRI	BRLT	MYTE	ELA
SIG		0.62	0.06	0.71	0.77	-0.11	0.83	-0.8	0.74	SIG
MOV	0.62		-0.19	0.61	0.67	0.1	0.53	-0.16	0.75	MOV
LANV	0.06	-0.19		0.07	-0.08	0.16	0.23	-0.2	0.06	LANV
REAL	0.71	0.61	0.07		0.78	0.35	0.88	-0.53	0.86	REAL
FOSL	0.77	0.67	-0.08	0.78		0.19	0.8	-0.55	0.8	FOSL
CPRI	-0.11	0.1	0.16	0.35	0.19		0.24	0.14	0.34	CPRI
BRLT	0.83	0.53	0.23	0.88	0.8	0.24		-0.71	0.83	BRLT
MYTE	-0.8	-0.16	-0.2	-0.53	-0.55	0.14	-0.71		-0.42	MYTE
ELA	0.74	0.75	0.06	0.86	0.8	0.34	0.83	-0.42		ELA
	SIG	MOV	LANV	REAL	FOSL	CPRI	BRLT	MYTE	ELA

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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

BRLT	+ 0.88	REAL
ELA	+ 0.86	REAL
BRLT	+ 0.83	SIG
ELA	+ 0.83	BRLT
BRLT	+ 0.8	FOSL
ELA	+ 0.8	FOSL

High negative correlations

MYTE	- 0.8	SIG
MYTE	- 0.71	BRLT
MYTE	- 0.55	FOSL
MYTE	- 0.53	REAL
ELA	- 0.42	MYTE
MYTE	- 0.2	LANV

Risk-Adjusted Indicators

There is a big difference between Tapestry Stock performing well and Tapestry 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 Tapestry'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
SIG	2.35	(0.71)	0.00	(0.77)	0.00	0.00	3.30	(4.23)	24.56
MOV	1.34	(0.10)	0.00	(0.22)	0.00	0.00	2.77	(2.78)	7.03
LANV	4.86	0.51	0.11	(12.97)	5.02	(6.05)	13.21	(10.67)	27.75
REAL	4.09	(0.33)	0.00	(0.28)	0.00	0.00	6.46	(8.83)	36.64
FOSL	3.92	(0.40)	0.00	(1.00)	0.00	0.00	6.79	(7.57)	35.23
CPRI	2.31	(0.04)	0.00	0.12	0.00	0.00	4.97	(4.43)	20.30
BRLT	3.08	(0.29)	0.00	(0.40)	0.00	0.00	5.59	(7.10)	32.30
MYTE	3.37	0.64	0.19	0.58	2.99	(4.22)	10.50	(5.70)	30.56
ELA	1.80	(0.35)	0.00	(1.02)	0.00	0.00	3.45	(3.97)	13.23

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