American Outdoor Correlations

AOUT Stock

USD 9.60 0.30 3.23%

The current 90-days correlation between American Outdoor Brands and Clarus Corp is 0.06 (i.e., Significant diversification). The correlation of American Outdoor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

American Outdoor Correlation With Market

Good diversification

The correlation between American Outdoor Brands and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Outdoor Brands and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with American Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Outdoor Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with American Stock

0.75	HBI	Hanesbrands	Pair Corr
0.73	LULU	Lululemon Athletica	Pair Corr
0.61	NWTG	Newton Golf Symbol Change	Pair Corr

Moving against American Stock

0.65	CCS	Century Communities Earnings Call Tomorrow	Pair Corr
0.62	MODG	Callaway Golf	Pair Corr
0.6	DFH	Dream Finders Homes	Pair Corr
0.57	DHI	DR Horton	Pair Corr
0.44	DOOO	BRP Inc	Pair Corr
0.44	TPH	TRI Pointe Homes Earnings Call Tomorrow	Pair Corr
0.43	MCFT	MCBC Holdings	Pair Corr
0.38	GPRO	GoPro Inc	Pair Corr
0.38	PLBY	Plby Group	Pair Corr
0.37	BC	Brunswick Earnings Call This Week	Pair Corr
0.7	QS	Quantumscape Corp Earnings Call Today	Pair Corr
0.69	LE	Lands End	Pair Corr
0.56	YJ	Yunji Inc	Pair Corr
0.55	VC	Visteon Corp Earnings Call Tomorrow	Pair Corr
0.53	BH	Biglari Holdings	Pair Corr
0.49	BIRD	Allbirds	Pair Corr
0.48	EM	Smart Share Global	Pair Corr
0.44	W	Wayfair Sell-off Trend	Pair Corr
0.44	JL	J Long Group	Pair Corr
0.42	F	Ford Motor Earnings Call Today	Pair Corr
0.39	AN	AutoNation	Pair Corr

Related Correlations Analysis

	CLAR	JOUT	ESCA	JAKK	SWBI	POWW	SPWH
CLAR		0.46	-0.53	0.04	-0.36	-0.69	0.66	CLAR
JOUT	0.46		-0.54	0.61	-0.16	-0.69	0.9	JOUT
ESCA	-0.53	-0.54		-0.09	0.34	0.57	-0.64	ESCA
JAKK	0.04	0.61	-0.09		0.42	-0.29	0.56	JAKK
SWBI	-0.36	-0.16	0.34	0.42		0.38	-0.09	SWBI
POWW	-0.69	-0.69	0.57	-0.29	0.38		-0.73	POWW
SPWH	0.66	0.9	-0.64	0.56	-0.09	-0.73		SPWH
	CLAR	JOUT	ESCA	JAKK	SWBI	POWW	SPWH

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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

SPWH	+ 0.9	JOUT
SPWH	+ 0.66	CLAR
JAKK	+ 0.61	JOUT
POWW	+ 0.57	ESCA
SPWH	+ 0.56	JAKK
JOUT	+ 0.46	CLAR

High negative correlations

SPWH	- 0.73	POWW
POWW	- 0.69	JOUT
POWW	- 0.69	CLAR
SPWH	- 0.64	ESCA
ESCA	- 0.54	JOUT
ESCA	- 0.53	CLAR

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Outdoor 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 American Outdoor'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
CLAR	1.60	0.20	0.02	(1.30)	2.00	(1.87)	3.85	(3.07)	11.78
JOUT	2.06	0.49	0.19	3.19	1.68	(2.43)	4.72	(2.95)	10.85
ESCA	2.23	(0.35)	0.00	(0.10)	0.00	0.00	4.42	(4.82)	19.13
JAKK	2.40	0.23	0.00	(0.18)	2.75	(2.54)	5.22	(4.51)	23.40
SWBI	1.50	(0.25)	0.00	17.68	0.00	0.00	2.58	(2.60)	24.96
POWW	2.70	(0.48)	0.00	1.99	0.00	0.00	4.79	(6.90)	18.53
SPWH	3.86	1.31	0.32	1.47	3.29	(4.66)	11.38	(5.66)	25.26

American Outdoor Corporate Management

Mark Reasoner	VP Sales	Profile
Douglas Brown	Chief Secretary	Profile
James Tayon	Chief Officer	Profile
Arturo Rio	VP Officer	Profile
Kyle Carter	Corporate Secretary	Profile

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