Sally Beauty Correlations

SBH Stock

USD 13.93 0.21 1.49%

The current 90-days correlation between Sally Beauty Holdings and National Vision Holdings is 0.41 (i.e., Very weak diversification). The correlation of Sally Beauty 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.

Sally Beauty Correlation With Market

Weak diversification

The correlation between Sally Beauty Holdings and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sally Beauty Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sally Beauty 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 bureau of labor statistics.

Moving together with Sally Stock

0.63	RH	RH Earnings Call This Week	Pair Corr
0.63	EYE	National Vision Holdings	Pair Corr
0.65	GPI	Group 1 Automotive	Pair Corr

Moving against Sally Stock

0.43	DIBS	1StdibsCom	Pair Corr
0.53	BGI	Birks Group	Pair Corr
0.42	KSS	Kohls Corp	Pair Corr

Related Correlations Analysis

	LESL	EYE	SPWH	HZO	ODP	FLWS	CASY	BGFV	CONN
LESL		0.16	-0.07	0.02	-0.13	-0.13	0.03	-0.15	0.08	LESL
EYE	0.16		-0.39	0.23	-0.59	0.34	0.6	-0.67	-0.42	EYE
SPWH	-0.07	-0.39		0.4	0.59	0.09	-0.45	0.66	0.35	SPWH
HZO	0.02	0.23	0.4		-0.03	0.16	-0.24	0.33	0.41	HZO
ODP	-0.13	-0.59	0.59	-0.03		0.04	-0.54	0.53	0.26	ODP
FLWS	-0.13	0.34	0.09	0.16	0.04		0.4	-0.15	-0.44	FLWS
CASY	0.03	0.6	-0.45	-0.24	-0.54	0.4		-0.63	-0.87	CASY
BGFV	-0.15	-0.67	0.66	0.33	0.53	-0.15	-0.63		0.53	BGFV
CONN	0.08	-0.42	0.35	0.41	0.26	-0.44	-0.87	0.53		CONN
	LESL	EYE	SPWH	HZO	ODP	FLWS	CASY	BGFV	CONN

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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

BGFV	+ 0.66	SPWH
CASY	+ 0.6	EYE
ODP	+ 0.59	SPWH
BGFV	+ 0.53	ODP
CONN	+ 0.53	BGFV
CONN	+ 0.41	HZO

High negative correlations

CONN	- 0.87	CASY
BGFV	- 0.67	EYE
BGFV	- 0.63	CASY
ODP	- 0.59	EYE
CASY	- 0.54	ODP
CASY	- 0.45	SPWH

Risk-Adjusted Indicators

There is a big difference between Sally Stock performing well and Sally Beauty 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 Sally Beauty'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
LESL	4.25	(0.06)	(0.01)	0.07	6.73	(4.48)	10.03	(7.26)	51.00
EYE	1.92	0.16	0.05	0.43	1.93	(2.22)	4.82	(2.84)	10.35
SPWH	3.91	(0.05)	(0.02)	0.06	4.26	(4.37)	9.39	(6.37)	18.28
HZO	2.64	(0.24)	0.01	0.05	2.87	(3.07)	6.01	(4.71)	18.16
ODP	1.64	(0.14)	0.00	0.41	0.00	0.00	2.98	(3.73)	15.70
FLWS	1.89	(0.33)	0.00	(0.08)	0.00	0.00	3.87	(3.95)	13.16
CASY	1.27	0.14	0.06	0.36	1.16	(1.56)	2.76	(2.09)	10.48
BGFV	3.08	(0.18)	0.00	(0.16)	0.00	0.00	4.69	(8.47)	25.47
CONN	7.71	(5.21)	0.00	(8.15)	0.00	0.00	10.49	(28.10)	62.98

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