Designer Brands Correlations

Stocks . USA . 
Stock . Designer Brands
DBI Stock  USD 5.04  0.22  4.56%   
The current 90-days correlation between Designer Brands and Wolverine World Wide is 0.32 (i.e., Weak diversification). The correlation of Designer 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.

Designer Brands Correlation With Market

Modest diversification

The correlation between Designer Brands and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Designer Brands and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Designer Brands. 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.
For more detail on how to invest in Designer Stock please use our How to Invest in Designer Brands guide.

Moving together with Designer Stock

  0.64YJ Yunji IncPairCorr
  0.84AEO American Eagle OutfittersPairCorr
  0.73ASO Academy Sports Outdoors Earnings Call TodayPairCorr
  0.74DIT AMCON DistributingPairCorr
  0.67FND Floor Decor HoldingsPairCorr
  0.72GPC Genuine PartsPairCorr
  0.85HVT Haverty FurniturePairCorr
  0.69LKQ LKQ CorporationPairCorr
  0.71NEGG Newegg CommercePairCorr
  0.8SCVL Shoe CarnivalPairCorr
  0.71ARHS Arhaus IncPairCorr

Moving against Designer Stock

  0.68VSCO Victorias SecretPairCorr
  0.57GLBE Global E OnlinePairCorr
  0.56GME GameStop Corp Earnings Call This WeekPairCorr
  0.48WEYS Weyco GroupPairCorr
  0.48JFBR Jeffs BrandsPairCorr
  0.39EYE National Vision HoldingsPairCorr
  0.34ABG Asbury AutomotivePairCorr
  0.69DOGZ Dogness International Upward RallyPairCorr
  0.68DORM Dorman ProductsPairCorr
  0.58RL Ralph Lauren CorpPairCorr
  0.5CATO Cato Downward RallyPairCorr
  0.5BH Biglari HoldingsPairCorr
  0.42ZK ZEEKR IntelligentPairCorr
  0.4SG SweetgreenPairCorr
  0.33CPNG Coupang LLCPairCorr
  0.31TTSH Tile Shop HoldingsPairCorr

Related Correlations Analysis

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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   
WEYS
+ 0.74
WWW
VRA
+ 0.66
CAL
CAL
+ 0.55
RCKY
RCKY
+ 0.53
SHOO
VRA
+ 0.2
RCKY
VRA
+ 0.06
WEYS
  
High negative correlations   
RCKY
- 0.72
WEYS
RCKY
- 0.71
WWW
CAL
- 0.51
WWW
CAL
- 0.36
WEYS
SHOO
- 0.27
WEYS
SHOO
- 0.17
WWW

Risk-Adjusted Indicators

There is a big difference between Designer Stock performing well and Designer 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 Designer 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.

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