Shake Shack Correlations

SHAK Stock

USD 132.35 0.26 0.20%

The current 90-days correlation between Shake Shack and Papa Johns International is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Shake Shack moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Shake Shack moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Shake Shack Correlation With Market

Very weak diversification

The correlation between Shake Shack and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shake Shack 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 Shake Shack. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with Shake Stock

0.67	DIN	Dine Brands Global	Pair Corr
0.92	EAT	Brinker International	Pair Corr
0.66	PBPB	Potbelly	Pair Corr
0.8	BJRI	BJs Restaurants	Pair Corr
0.81	WEYS	Weyco Group	Pair Corr
0.67	ADT	ADT Inc	Pair Corr
0.76	WWW	Wolverine World Wide	Pair Corr
0.61	ONON	On Holding Sell-off Trend	Pair Corr
0.68	SSNLF	Samsung Electronics	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.71	T	ATT Inc Aggressive Push	Pair Corr
0.83	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.89	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Shake Stock

0.84	TLK	Telkom Indonesia Tbk	Pair Corr
0.81	BKRKY	Bank Rakyat	Pair Corr
0.8	PPERY	Bank Mandiri Persero	Pair Corr
0.77	BKRKF	PT Bank Rakyat	Pair Corr
0.77	PPERF	Bank Mandiri Persero	Pair Corr
0.73	NDLS	Noodles Company	Pair Corr
0.65	SKX	Skechers USA	Pair Corr
0.64	LOCO	El Pollo Loco	Pair Corr
0.61	BLMN	Bloomin Brands	Pair Corr
0.6	NKE	Nike Inc Aggressive Push	Pair Corr
0.33	STKS	One Group Hospitality	Pair Corr
0.89	KO	Coca Cola Sell-off Trend	Pair Corr
0.86	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.83	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.82	EC	Ecopetrol SA ADR	Pair Corr
0.61	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.51	PBCRY	Bank Central Asia	Pair Corr
0.44	PBCRF	PT Bank Central	Pair Corr
0.38	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	DPZ	PZZA	CMG	DRI	EAT	JACK	WEN	WING	MCD	SBUX
DPZ		0.26	0.7	0.75	0.81	0.22	0.35	-0.43	0.16	0.65	DPZ
PZZA	0.26		0.25	0.33	0.23	0.38	0.7	-0.2	0.46	0.11	PZZA
CMG	0.7	0.25		0.66	0.68	0.07	0.54	-0.19	0.41	0.7	CMG
DRI	0.75	0.33	0.66		0.62	0.1	0.34	-0.21	0.19	0.57	DRI
EAT	0.81	0.23	0.68	0.62		0.39	0.56	-0.77	-0.02	0.73	EAT
JACK	0.22	0.38	0.07	0.1	0.39		0.46	-0.57	-0.26	0.19	JACK
WEN	0.35	0.7	0.54	0.34	0.56	0.46		-0.53	0.43	0.27	WEN
WING	-0.43	-0.2	-0.19	-0.21	-0.77	-0.57	-0.53		0.27	-0.4	WING
MCD	0.16	0.46	0.41	0.19	-0.02	-0.26	0.43	0.27		-0.05	MCD
SBUX	0.65	0.11	0.7	0.57	0.73	0.19	0.27	-0.4	-0.05		SBUX
	DPZ	PZZA	CMG	DRI	EAT	JACK	WEN	WING	MCD	SBUX

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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

EAT	+ 0.81	DPZ
DRI	+ 0.75	DPZ
SBUX	+ 0.73	EAT
CMG	+ 0.7	DPZ
WEN	+ 0.7	PZZA
SBUX	+ 0.7	CMG

High negative correlations

WING	- 0.77	EAT
WING	- 0.57	JACK
WING	- 0.53	WEN
WING	- 0.43	DPZ
SBUX	- 0.4	WING
MCD	- 0.26	JACK

Risk-Adjusted Indicators

There is a big difference between Shake Stock performing well and Shake Shack 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 Shake Shack'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
DPZ	1.18	0.07	0.06	0.18	1.16	(1.41)	3.26	(2.11)	7.92
PZZA	1.98	(0.02)	(0.01)	0.09	2.43	(2.02)	4.11	(4.50)	10.07
CMG	1.28	0.04	0.02	0.16	2.01	(1.34)	2.74	(2.68)	10.78
DRI	1.17	0.02	0.06	0.13	0.94	(1.51)	2.04	(1.75)	11.46
EAT	1.88	0.79	0.46	0.74	1.25	(2.43)	5.04	(2.48)	11.91
JACK	2.18	(0.16)	0.00	(0.12)	0.00	0.00	4.33	(4.93)	11.59
WEN	1.45	0.05	0.03	0.16	1.79	(1.50)	3.34	(2.45)	10.31
WING	2.01	(0.42)	0.00	(0.18)	0.00	0.00	3.59	(4.14)	25.52
MCD	0.72	(0.03)	(0.06)	0.07	1.33	(0.66)	1.46	(1.18)	6.70
SBUX	0.99	0.01	(0.05)	0.13	1.07	(1.15)	2.01	(2.04)	7.49

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