Big 5 Correlations

BGFV Stock

USD 1.42 0.01 0.71%

The current 90-days correlation between Big 5 Sporting and Eldorado Gold Corp is -0.31 (i.e., Very good diversification). The correlation of Big 5 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.

Big 5 Correlation With Market

Modest diversification

The correlation between Big 5 Sporting and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Big 5 Sporting and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Big Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Big 5 Sporting. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Big Stock

0.81	FL	Foot Locker Sell-off Trend	Pair Corr
0.67	HD	Home Depot Sell-off Trend	Pair Corr
0.8	JL	J Long Group	Pair Corr
0.66	VSCO	Victorias Secret	Pair Corr
0.76	EPSM	Epsium Enterprise	Pair Corr
0.82	WEYS	Weyco Group	Pair Corr
0.81	ABG	Asbury Automotive	Pair Corr
0.74	ANF	Abercrombie Fitch	Pair Corr
0.8	ASO	Academy Sports Outdoors	Pair Corr
0.69	BBY	Best Buy	Pair Corr
0.9	EYE	National Vision Holdings	Pair Corr
0.75	GCO	Genesco	Pair Corr
0.76	GES	Guess Inc	Pair Corr
0.77	GPC	Genuine Parts	Pair Corr
0.9	LAD	Lithia Motors	Pair Corr
0.68	TLF	Tandy Leather Factory	Pair Corr

Moving against Big Stock

0.55	FLWS	1 800 FLOWERSCOM	Pair Corr
0.68	GNLN	Greenlane Holdings	Pair Corr
0.54	RAY	Raytech Holding	Pair Corr
0.5	DIT	AMCON Distributing	Pair Corr
0.36	BGI	Birks Group	Pair Corr
0.32	CAL	Continental	Pair Corr
0.74	JFBR	Jeffs Brands	Pair Corr
0.57	HTLM	HomesToLife	Pair Corr
0.42	LVLU	Lulus Fashion Lounge	Pair Corr
0.31	KIRK	Kirklands	Pair Corr

Related Correlations Analysis

	ACI	BYND	EGO	TNYBF	JBS	HDSN	WRN
ACI		-0.27	-0.1	-0.17	-0.05	0.06	-0.21	ACI
BYND	-0.27		0.5	0.06	-0.14	0.47	0.59	BYND
EGO	-0.1	0.5		-0.1	-0.13	0.51	0.85	EGO
TNYBF	-0.17	0.06	-0.1		0.0	0.02	0.06	TNYBF
JBS	-0.05	-0.14	-0.13	0.0		-0.1	-0.15	JBS
HDSN	0.06	0.47	0.51	0.02	-0.1		0.51	HDSN
WRN	-0.21	0.59	0.85	0.06	-0.15	0.51		WRN
	ACI	BYND	EGO	TNYBF	JBS	HDSN	WRN

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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

WRN	+ 0.85	EGO
WRN	+ 0.59	BYND
HDSN	+ 0.51	EGO
WRN	+ 0.51	HDSN
EGO	+ 0.5	BYND
HDSN	+ 0.47	BYND

High negative correlations

BYND	- 0.27	ACI
WRN	- 0.21	ACI
TNYBF	- 0.17	ACI
WRN	- 0.15	JBS
JBS	- 0.14	BYND
JBS	- 0.13	EGO

Risk-Adjusted Indicators

There is a big difference between Big Stock performing well and Big 5 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 Big 5'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
ACI	1.31	0.05	(0.03)	(1.04)	1.96	(1.29)	2.60	(2.60)	9.71
BYND	2.95	0.34	0.05	(0.43)	3.41	(3.42)	8.66	(7.12)	18.61
EGO	2.14	0.35	0.09	16.42	2.55	(2.30)	5.32	(3.00)	18.49
TNYBF	1.21	(0.17)	0.00	(0.10)	0.00	0.00	0.00	0.00	31.18
JBS	2.31	0.08	(0.01)	1.00	2.29	(3.18)	6.42	(3.95)	9.15
HDSN	2.50	0.49	0.15	(7.57)	2.28	(3.33)	8.29	(4.02)	20.60
WRN	3.01	0.22	0.03	(1.04)	3.45	(3.76)	7.55	(6.14)	17.38

Big 5 Corporate Executives

Elected by the shareholders, the Big 5's board of directors comprises two types of representatives: Big 5 inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Big. The board's role is to monitor Big 5's management team and ensure that shareholders' interests are well served. Big 5's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Big 5's outside directors are responsible for providing unbiased perspectives on the board's policies.

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