Boot Barn Correlations

BOOT Stock

USD 136.23 2.60 1.87%

The current 90-days correlation between Boot Barn Holdings and Childrens Place is -0.04 (i.e., Good diversification). The correlation of Boot Barn 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.

Boot Barn Correlation With Market

Average diversification

The correlation between Boot Barn Holdings and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boot Barn Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Boot Barn Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Boot Stock

0.68	YJ	Yunji Inc	Pair Corr
0.68	ASO	Academy Sports Outdoors Earnings Call Today	Pair Corr
0.65	FNKO	Funko Inc	Pair Corr
0.65	BBY	Best Buy	Pair Corr
0.66	FND	Floor Decor Holdings	Pair Corr
0.64	HVT	Haverty Furniture	Pair Corr

Moving against Boot Stock

0.54	GME	GameStop Corp Earnings Call This Week	Pair Corr
0.53	ABG	Asbury Automotive	Pair Corr
0.49	VSCO	Victorias Secret	Pair Corr
0.44	EYE	National Vision Holdings	Pair Corr
0.41	WEYS	Weyco Group	Pair Corr
0.32	JFBR	Jeffs Brands	Pair Corr
0.32	JILL	JJill Inc Earnings Call This Week	Pair Corr
0.54	DORM	Dorman Products	Pair Corr
0.48	BH	Biglari Holdings	Pair Corr
0.35	CATO	Cato Downward Rally	Pair Corr

Related Correlations Analysis

	ROST	PLCE	BKE	HIBB	GES	BURL	SCVL	CATO	GCO
ROST		-0.27	-0.21	-0.3	0.68	0.61	0.67	-0.88	0.05	ROST
PLCE	-0.27		0.48	0.38	-0.33	0.08	-0.03	0.23	-0.08	PLCE
BKE	-0.21	0.48		0.23	-0.6	0.46	-0.43	0.14	0.63	BKE
HIBB	-0.3	0.38	0.23		-0.46	-0.21	-0.32	0.21	-0.15	HIBB
GES	0.68	-0.33	-0.6	-0.46		0.12	0.81	-0.62	-0.1	GES
BURL	0.61	0.08	0.46	-0.21	0.12		0.25	-0.64	0.44	BURL
SCVL	0.67	-0.03	-0.43	-0.32	0.81	0.25		-0.55	-0.2	SCVL
CATO	-0.88	0.23	0.14	0.21	-0.62	-0.64	-0.55		-0.05	CATO
GCO	0.05	-0.08	0.63	-0.15	-0.1	0.44	-0.2	-0.05		GCO
	ROST	PLCE	BKE	HIBB	GES	BURL	SCVL	CATO	GCO

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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

SCVL	+ 0.81	GES
GES	+ 0.68	ROST
SCVL	+ 0.67	ROST
GCO	+ 0.63	BKE
BURL	+ 0.61	ROST
BKE	+ 0.48	PLCE

High negative correlations

CATO	- 0.88	ROST
CATO	- 0.64	BURL
CATO	- 0.62	GES
GES	- 0.6	BKE
CATO	- 0.55	SCVL
GES	- 0.46	HIBB

Risk-Adjusted Indicators

There is a big difference between Boot Stock performing well and Boot Barn 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 Boot Barn'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
ROST	1.11	(0.05)	(0.07)	0.01	1.50	(1.06)	2.46	(2.62)	6.21
PLCE	7.90	1.89	0.29	0.97	6.09	(10.21)	24.62	(11.60)	107.65
BKE	1.52	0.19	0.14	0.29	1.25	(1.84)	4.83	(2.25)	7.53
HIBB	0.65	0.36	0.71	(1.17)	0.00	(0.67)	0.56	(0.24)	19.75
GES	1.73	(0.45)	0.00	(0.20)	0.00	0.00	3.44	(3.88)	8.81
BURL	1.37	(0.02)	(0.03)	0.10	2.03	(1.27)	2.37	(2.77)	9.11
SCVL	2.11	(0.60)	0.00	(0.18)	0.00	0.00	5.16	(5.85)	16.24
CATO	3.15	(0.28)	0.00	0.57	0.00	0.00	5.64	(5.49)	38.92
GCO	3.04	(0.13)	0.01	0.07	3.51	(3.50)	8.10	(5.73)	16.22

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