Gildan Activewear Correlations

GIL Stock

USD 49.56 0.01 0.02%

The current 90-days correlation between Gildan Activewear and VF Corporation is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gildan Activewear moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gildan Activewear moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gildan Activewear Correlation With Market

Average diversification

The correlation between Gildan Activewear and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gildan Activewear and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gildan Activewear. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Gildan Stock please use our How to buy in Gildan Stock guide.

Moving together with Gildan Stock

0.91	RL	Ralph Lauren Corp	Pair Corr
0.72	UA	Under Armour C	Pair Corr
0.81	DOGZ	Dogness International Upward Rally	Pair Corr
0.74	FOSL	Fossil Group	Pair Corr
0.86	KTB	Kontoor Brands	Pair Corr
0.7	MPX	Marine Products Fiscal Year End 23rd of January 2025	Pair Corr
0.61	PVH	PVH Corp Earnings Call This Week	Pair Corr
0.81	REE	Ree Automotive Holding Earnings Call Today	Pair Corr
0.77	UAA	Under Armour A Aggressive Push	Pair Corr
0.74	WWW	Wolverine World Wide	Pair Corr

Moving against Gildan Stock

0.85	DOOO	BRP Inc Earnings Call Today	Pair Corr
0.84	CRI	Carters	Pair Corr
0.72	DHI	DR Horton	Pair Corr
0.68	SKX	Skechers USA	Pair Corr
0.64	CCS	Century Communities	Pair Corr
0.45	HAS	Hasbro Inc Sell-off Trend	Pair Corr
0.43	MTH	Meritage	Pair Corr
0.43	NKE	Nike Inc Aggressive Push	Pair Corr
0.39	TPH	TRI Pointe Homes	Pair Corr
0.89	LIVE	Live Ventures Fiscal Year End 18th of December 2024	Pair Corr
0.8	RCKY	Rocky Brands	Pair Corr
0.68	JXJT	JX Luxventure Limited	Pair Corr
0.63	GV	Visionary Education	Pair Corr
0.62	LEVI	Levi Strauss Fiscal Year End 23rd of January 2025	Pair Corr
0.5	GOOS	Canada Goose Holdings	Pair Corr
0.5	LANV	Lanvin Group Holdings	Pair Corr
0.35	AREBW	American Rebel Holdings	Pair Corr
0.35	LEGH	Legacy Housing Corp	Pair Corr

Related Correlations Analysis

	VFC	LEVI	UAA	COLM	OXM	KTB	GIII	VNCE
VFC		-0.26	0.56	0.35	-0.41	0.61	0.15	0.04	VFC
LEVI	-0.26		-0.52	-0.05	0.63	-0.57	-0.01	0.53	LEVI
UAA	0.56	-0.52		0.4	-0.45	0.86	0.18	-0.23	UAA
COLM	0.35	-0.05	0.4		0.31	0.55	0.11	-0.1	COLM
OXM	-0.41	0.63	-0.45	0.31		-0.4	-0.15	0.03	OXM
KTB	0.61	-0.57	0.86	0.55	-0.4		0.23	-0.31	KTB
GIII	0.15	-0.01	0.18	0.11	-0.15	0.23		0.29	GIII
VNCE	0.04	0.53	-0.23	-0.1	0.03	-0.31	0.29		VNCE
	VFC	LEVI	UAA	COLM	OXM	KTB	GIII	VNCE

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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

KTB	+ 0.86	UAA
OXM	+ 0.63	LEVI
KTB	+ 0.61	VFC
UAA	+ 0.56	VFC
KTB	+ 0.55	COLM
VNCE	+ 0.53	LEVI

High negative correlations

KTB	- 0.57	LEVI
UAA	- 0.52	LEVI
OXM	- 0.45	UAA
OXM	- 0.41	VFC
KTB	- 0.4	OXM
VNCE	- 0.31	KTB

Risk-Adjusted Indicators

There is a big difference between Gildan Stock performing well and Gildan Activewear 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 Gildan Activewear'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
VFC	2.64	0.26	0.06	0.87	2.82	(3.11)	5.06	(4.77)	33.97
LEVI	1.39	(0.28)	0.00	(0.22)	0.00	0.00	2.26	(2.83)	11.26
UAA	2.82	0.27	0.06	0.80	3.29	(3.65)	6.63	(4.57)	40.23
COLM	1.24	0.03	(0.01)	0.16	1.56	(1.20)	2.53	(2.36)	7.71
OXM	1.49	(0.14)	(0.06)	0.00	1.83	(1.60)	3.18	(3.12)	8.17
KTB	1.48	0.27	0.12	0.61	1.47	(1.67)	3.18	(2.42)	16.49
GIII	2.06	0.14	0.05	0.32	1.96	(2.57)	3.72	(4.17)	26.82
VNCE	2.91	(0.18)	0.00	(0.11)	0.00	0.00	6.29	(7.25)	35.35

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