Shoe Carnival Correlations

SCVL Stock

USD 33.76 0.15 0.45%

The current 90-days correlation between Shoe Carnival and Hibbett Sports is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shoe Carnival moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shoe Carnival moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shoe Carnival Correlation With Market

Very weak diversification

The correlation between Shoe Carnival and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shoe Carnival 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 Shoe Carnival. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Shoe Stock

0.9	ASO	Academy Sports Outdoors	Pair Corr
0.77	BBY	Best Buy	Pair Corr
0.67	FND	Floor Decor Holdings	Pair Corr
0.81	HVT	Haverty Furniture	Pair Corr
0.84	ARHS	Arhaus Inc	Pair Corr
0.62	BOOT	Boot Barn Holdings	Pair Corr
0.64	ULTA	Ulta Beauty Earnings Call This Week	Pair Corr
0.69	DOOO	BRP Inc	Pair Corr
0.83	WING	Wingstop	Pair Corr

Moving against Shoe Stock

0.71	WRBY	Warby Parker	Pair Corr
0.68	VSCO	Victorias Secret	Pair Corr
0.52	GAP	Gap, Symbol Change	Pair Corr
0.4	WEYS	Weyco Group	Pair Corr
0.35	HD	Home Depot	Pair Corr
0.81	DOGZ	Dogness International	Pair Corr
0.69	GM	General Motors	Pair Corr
0.64	ORLY	OReilly Automotive	Pair Corr
0.57	RL	Ralph Lauren Corp	Pair Corr
0.42	RERE	ATRenew Inc DRC	Pair Corr
0.76	AGS	PlayAGS	Pair Corr
0.74	FLXS	Flexsteel Industries	Pair Corr

Related Correlations Analysis

	HIBB	CTRN	ZUMZ	BKE	CATO	GCO	BURL	PLCE	GES
HIBB		0.41	-0.57	0.29	0.17	-0.07	-0.06	0.43	-0.36	HIBB
CTRN	0.41		-0.7	0.34	0.35	0.12	-0.24	0.7	-0.28	CTRN
ZUMZ	-0.57	-0.7		-0.19	-0.46	0.31	0.33	-0.66	0.44	ZUMZ
BKE	0.29	0.34	-0.19		-0.09	0.74	0.57	0.48	-0.65	BKE
CATO	0.17	0.35	-0.46	-0.09		-0.2	-0.68	0.11	-0.41	CATO
GCO	-0.07	0.12	0.31	0.74	-0.2		0.5	0.06	-0.3	GCO
BURL	-0.06	-0.24	0.33	0.57	-0.68	0.5		0.2	-0.06	BURL
PLCE	0.43	0.7	-0.66	0.48	0.11	0.06	0.2		-0.29	PLCE
GES	-0.36	-0.28	0.44	-0.65	-0.41	-0.3	-0.06	-0.29		GES
	HIBB	CTRN	ZUMZ	BKE	CATO	GCO	BURL	PLCE	GES

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

GCO	+ 0.74	BKE
PLCE	+ 0.7	CTRN
BURL	+ 0.57	BKE
BURL	+ 0.5	GCO
PLCE	+ 0.48	BKE
GES	+ 0.44	ZUMZ

High negative correlations

ZUMZ	- 0.7	CTRN
BURL	- 0.68	CATO
PLCE	- 0.66	ZUMZ
GES	- 0.65	BKE
ZUMZ	- 0.57	HIBB
CATO	- 0.46	ZUMZ

Risk-Adjusted Indicators

There is a big difference between Shoe Stock performing well and Shoe Carnival 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 Shoe Carnival'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
HIBB	0.65	0.30	0.69	1.42	0.00	(0.67)	0.56	(0.24)	19.75
CTRN	2.02	0.38	0.17	0.45	1.93	(2.51)	5.18	(2.97)	17.32
ZUMZ	2.32	(0.46)	0.00	(0.29)	0.00	0.00	5.33	(5.10)	16.45
BKE	1.51	0.22	0.17	0.33	1.13	(1.85)	4.83	(2.19)	7.53
CATO	3.24	(0.33)	0.00	0.63	0.00	0.00	5.64	(6.06)	38.92
GCO	3.12	(0.05)	0.03	0.10	3.52	(3.56)	8.10	(5.73)	16.22
BURL	1.36	(0.03)	(0.03)	0.09	2.03	(1.25)	2.37	(2.77)	9.11
PLCE	7.88	2.04	0.31	1.11	6.05	(10.03)	24.62	(11.60)	107.65
GES	1.75	(0.45)	0.00	(0.19)	0.00	0.00	3.44	(3.88)	11.11

Shoe Carnival Corporate Management

Carl Scibetta	Executive VP and General Merchandise Manager	Profile
John Dodson	Senior Operations	Profile
Deborah Hannah	Senior Communications	Profile
Angela Brawdy	Vice Resources	Profile
Terry Clements	Chief VP	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC