National Vision Correlations

EYE Stock

USD 12.38 0.07 0.56%

The current 90-days correlation between National Vision Holdings and Sally Beauty Holdings is 0.4 (i.e., Very weak diversification). The correlation of National Vision 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.

National Vision Correlation With Market

Average diversification

The correlation between National Vision Holdings and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Vision Holdings 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 National Vision 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 manufacturing.

Moving together with National Stock

0.67	WEYS	Weyco Group	Pair Corr
0.73	ABG	Asbury Automotive	Pair Corr
0.64	GME	GameStop Corp Earnings Call This Week	Pair Corr
0.65	GLBE	Global E Online	Pair Corr
0.62	BH	Biglari Holdings	Pair Corr
0.61	BYD	Boyd Gaming	Pair Corr

Moving against National Stock

0.55	BGI	Birks Group	Pair Corr
0.54	YJ	Yunji Inc	Pair Corr
0.39	BBY	Best Buy	Pair Corr
0.39	HVT	Haverty Furniture	Pair Corr
0.33	ASO	Academy Sports Outdoors Earnings Call Today	Pair Corr
0.61	DAN	Dana Inc	Pair Corr
0.41	DOOO	BRP Inc Earnings Call Today	Pair Corr
0.4	WING	Wingstop	Pair Corr
0.36	CDROW	Codere Online Luxembourg	Pair Corr
0.33	CCS	Century Communities	Pair Corr

Related Correlations Analysis

	SBH	HZO	SPWH	FLWS	LESL	ODP	CASY	MUSA	GPC	ORLY
SBH		0.45	0.03	0.21	0.09	-0.12	0.23	0.17	-0.02	0.14	SBH
HZO	0.45		0.43	0.15	0.1	0.02	-0.3	0.11	0.57	-0.31	HZO
SPWH	0.03	0.43		0.03	-0.19	0.54	-0.38	-0.58	0.27	-0.32	SPWH
FLWS	0.21	0.15	0.03		-0.06	0.09	0.3	-0.01	-0.11	0.33	FLWS
LESL	0.09	0.1	-0.19	-0.06		-0.29	0.18	0.34	-0.16	-0.02	LESL
ODP	-0.12	0.02	0.54	0.09	-0.29		-0.5	-0.76	0.13	-0.38	ODP
CASY	0.23	-0.3	-0.38	0.3	0.18	-0.5		0.37	-0.63	0.84	CASY
MUSA	0.17	0.11	-0.58	-0.01	0.34	-0.76	0.37		0.05	0.13	MUSA
GPC	-0.02	0.57	0.27	-0.11	-0.16	0.13	-0.63	0.05		-0.48	GPC
ORLY	0.14	-0.31	-0.32	0.33	-0.02	-0.38	0.84	0.13	-0.48		ORLY
	SBH	HZO	SPWH	FLWS	LESL	ODP	CASY	MUSA	GPC	ORLY

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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

ORLY	+ 0.84	CASY
GPC	+ 0.57	HZO
ODP	+ 0.54	SPWH
HZO	+ 0.45	SBH
SPWH	+ 0.43	HZO
MUSA	+ 0.37	CASY

High negative correlations

MUSA	- 0.76	ODP
GPC	- 0.63	CASY
MUSA	- 0.58	SPWH
CASY	- 0.5	ODP
ORLY	- 0.48	GPC
ORLY	- 0.38	ODP

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Vision 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 National Vision'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
SBH	1.93	(0.01)	0.01	0.12	1.81	(2.36)	4.86	(2.78)	12.66
HZO	2.54	(0.33)	(0.03)	0.01	2.83	(3.05)	6.01	(4.71)	18.16
SPWH	3.66	(0.35)	0.00	(0.20)	0.00	0.00	9.09	(6.37)	17.82
FLWS	1.89	(0.35)	0.00	(0.09)	0.00	0.00	3.87	(3.95)	13.16
LESL	4.43	(0.29)	0.00	(0.09)	0.00	0.00	10.03	(9.12)	32.83
ODP	1.65	(0.11)	0.00	0.35	0.00	0.00	2.98	(3.73)	15.70
CASY	1.28	0.13	0.06	0.34	1.17	(1.56)	2.76	(2.09)	10.48
MUSA	1.12	0.05	0.00	0.19	1.24	(1.21)	2.61	(1.90)	6.99
GPC	1.40	(0.26)	0.00	(0.10)	0.00	0.00	2.85	(2.36)	23.82
ORLY	0.83	0.05	0.03	0.19	0.84	(0.86)	1.40	(1.55)	7.77

National Vision Corporate Management

Alex Louw	VP Officer	Profile
Bill Clark	Senior Officer	Profile
Jacqueline Grove	Development, Talent	Profile
Ravi Acharya	Chief VP	Profile
Joe VanDette	Senior Officer	Profile
David CFA	Senior Relations	Profile

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