BT Brands Correlations

BTBDW Stock

USD 0.09 0.04 78.86%

The current 90-days correlation between BT Brands Warrant and Wingstop is 0.21 (i.e., Modest diversification). The correlation of BT Brands 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.

BT Brands Correlation With Market

Significant diversification

The correlation between BT Brands Warrant and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BT Brands Warrant and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving against BTBDW Stock

0.63	AGS	PlayAGS	Pair Corr
0.58	YUMC	Yum China Holdings	Pair Corr
0.41	PLAY	Dave Busters Enterta Earnings Call This Week	Pair Corr
0.39	EVRI	Everi Holdings	Pair Corr
0.39	WEN	The Wendys	Pair Corr
0.38	EXPE	Expedia Group	Pair Corr
0.35	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.34	PLYA	Playa Hotels Resorts	Pair Corr
0.48	LOW	Lowes Companies	Pair Corr
0.44	HD	Home Depot Sell-off Trend	Pair Corr
0.4	CAKE	The Cheesecake Factory	Pair Corr
0.33	SHAK	Shake Shack	Pair Corr

Related Correlations Analysis

	WING	WEN	RLJ	AQUI	STEP	MSTSX	LBHIX	VSCIX	VIASP	BBDC
WING		-0.53	-0.11	0.0	-0.57	0.03	-0.1	-0.5	-0.55	-0.06	WING
WEN	-0.53		-0.01	0.0	0.6	0.59	0.36	0.51	0.13	-0.12	WEN
RLJ	-0.11	-0.01		0.0	0.65	0.35	0.56	0.78	0.64	0.64	RLJ
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
STEP	-0.57	0.6	0.65	0.0		0.63	0.66	0.93	0.58	0.3	STEP
MSTSX	0.03	0.59	0.35	0.0	0.63		0.68	0.6	-0.05	0.01	MSTSX
LBHIX	-0.1	0.36	0.56	0.0	0.66	0.68		0.67	0.26	0.2	LBHIX
VSCIX	-0.5	0.51	0.78	0.0	0.93	0.6	0.67		0.67	0.49	VSCIX
VIASP	-0.55	0.13	0.64	0.0	0.58	-0.05	0.26	0.67		0.6	VIASP
BBDC	-0.06	-0.12	0.64	0.0	0.3	0.01	0.2	0.49	0.6		BBDC
	WING	WEN	RLJ	AQUI	STEP	MSTSX	LBHIX	VSCIX	VIASP	BBDC

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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

VSCIX	+ 0.93	STEP
VSCIX	+ 0.78	RLJ
LBHIX	+ 0.68	MSTSX
VSCIX	+ 0.67	LBHIX
VIASP	+ 0.67	VSCIX
LBHIX	+ 0.66	STEP

High negative correlations

STEP	- 0.57	WING
VIASP	- 0.55	WING
WEN	- 0.53	WING
VSCIX	- 0.5	WING
BBDC	- 0.12	WEN
RLJ	- 0.11	WING

Risk-Adjusted Indicators

There is a big difference between BTBDW Stock performing well and BT Brands 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 BT Brands' 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
WING	2.01	(0.42)	0.00	(0.18)	0.00	0.00	3.59	(4.14)	25.52
WEN	1.45	0.05	0.03	0.16	1.79	(1.50)	3.34	(2.45)	10.31
RLJ	1.14	0.03	0.03	0.14	1.20	(1.26)	2.42	(1.91)	9.84
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STEP	1.48	0.12	0.11	0.18	1.60	(1.67)	2.82	(2.12)	16.32
MSTSX	0.49	(0.03)	(0.12)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
VSCIX	0.75	0.03	0.06	0.14	0.70	(0.84)	1.62	(1.24)	5.35
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18
BBDC	0.67	(0.01)	(0.07)	0.10	0.76	(0.72)	1.34	(1.12)	3.87

BT Brands Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BT Brands stock to make a market-neutral strategy. Peer analysis of BT Brands could also be used in its relative valuation, which is a method of valuing BT Brands by comparing valuation metrics with similar companies.

Wingstop The Wendys Co RLJ Lodging Trust Aquagold International Stepstone Group Morningstar Unconstrained Allocation Thrivent High Yield Vanguard Small Cap Index Via Renewables Barings BDC American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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