Allbirds Correlations

BIRD Stock

USD 10.65 1.31 10.95%

The current 90-days correlation between Allbirds and Lulus Fashion Lounge is -0.04 (i.e., Good diversification). The correlation of Allbirds 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.

Allbirds Correlation With Market

Weak diversification

The correlation between Allbirds and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allbirds and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Allbirds Stock

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

For information on how to trade Allbirds Stock refer to our How to Trade Allbirds Stock guide.

Moving together with Allbirds Stock

0.83	AS	Amer Sports,	Pair Corr
0.94	BC	Brunswick Earnings Call This Week	Pair Corr
0.72	RL	Ralph Lauren Corp	Pair Corr
0.81	UA	Under Armour C	Pair Corr
0.94	DOOO	BRP Inc	Pair Corr
0.71	VUZI	Vuzix Corp Cmn	Pair Corr
0.79	BZH	Beazer Homes USA	Pair Corr
0.69	FOSL	Fossil Group	Pair Corr
0.69	DFH	Dream Finders Homes Downward Rally	Pair Corr
0.74	MAT	Mattel Inc Earnings Call This Week	Pair Corr
0.89	PII	Polaris Industries Earnings Call This Week	Pair Corr
0.68	SKX	Skechers USA Earnings Call This Week	Pair Corr
0.82	UAA	Under Armour A	Pair Corr
0.63	VRA	Vera Bradley	Pair Corr
0.91	GPRO	GoPro Inc	Pair Corr
0.82	MBUU	Malibu Boats	Pair Corr
0.86	MCFT	MCBC Holdings	Pair Corr
0.8	MODG	Callaway Golf	Pair Corr
0.84	PLBY	Plby Group	Pair Corr
0.74	RCKY	Rocky Brands	Pair Corr
0.61	SHOO	Steven Madden Earnings Call This Week	Pair Corr

Moving against Allbirds Stock

0.75	WTO	UTime Limited	Pair Corr
0.67	CRI	Carters Earnings Call This Week	Pair Corr
0.64	ESCA	Escalade Incorporated Earnings Call This Week	Pair Corr
0.62	VNCE	Vince Holding Corp	Pair Corr
0.43	MSN	Emerson Radio	Pair Corr
0.31	VEEE	Twin Vee Powercats	Pair Corr
0.79	NWTG	Newton Golf Symbol Change	Pair Corr
0.56	LULU	Lululemon Athletica	Pair Corr
0.55	JD	JD Inc Adr Aggressive Push	Pair Corr
0.42	KBSX	FST Corp Ordinary	Pair Corr

Related Correlations Analysis

	LVLU	NRDS	ONON	PLCE	RENT	SFIX	SG	TOST	VSCO	WRBY
LVLU		-0.37	-0.17	0.14	0.1	-0.17	0.3	-0.49	0.0	-0.5	LVLU
NRDS	-0.37		0.77	-0.06	0.48	0.73	-0.77	0.81	0.63	0.7	NRDS
ONON	-0.17	0.77		0.17	0.73	0.9	-0.73	0.82	0.88	0.64	ONON
PLCE	0.14	-0.06	0.17		0.07	0.17	0.29	-0.16	0.27	-0.42	PLCE
RENT	0.1	0.48	0.73	0.07		0.75	-0.52	0.61	0.73	0.48	RENT
SFIX	-0.17	0.73	0.9	0.17	0.75		-0.72	0.81	0.72	0.72	SFIX
SG	0.3	-0.77	-0.73	0.29	-0.52	-0.72		-0.86	-0.47	-0.86	SG
TOST	-0.49	0.81	0.82	-0.16	0.61	0.81	-0.86		0.61	0.87	TOST
VSCO	0.0	0.63	0.88	0.27	0.73	0.72	-0.47	0.61		0.35	VSCO
WRBY	-0.5	0.7	0.64	-0.42	0.48	0.72	-0.86	0.87	0.35		WRBY
	LVLU	NRDS	ONON	PLCE	RENT	SFIX	SG	TOST	VSCO	WRBY

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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

SFIX	+ 0.9	ONON
VSCO	+ 0.88	ONON
WRBY	+ 0.87	TOST
TOST	+ 0.82	ONON
TOST	+ 0.81	NRDS
TOST	+ 0.81	SFIX

High negative correlations

WRBY	- 0.86	SG
TOST	- 0.86	SG
SG	- 0.77	NRDS
SG	- 0.73	ONON
SG	- 0.72	SFIX
SG	- 0.52	RENT

Risk-Adjusted Indicators

There is a big difference between Allbirds Stock performing well and Allbirds 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 Allbirds' 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
LVLU	4.82	(0.34)	0.00	0.39	0.00	0.00	12.94	(11.30)	32.30
NRDS	1.95	0.20	0.12	0.27	1.87	(2.60)	3.06	(2.41)	35.16
ONON	1.71	0.18	0.11	0.29	1.55	(2.09)	3.82	(2.16)	18.06
PLCE	4.53	(0.19)	(0.01)	0.03	7.17	(4.60)	9.33	(8.19)	50.43
RENT	5.50	0.12	0.00	0.54	6.84	(6.02)	12.23	(11.83)	45.39
SFIX	2.92	0.44	0.17	0.36	2.73	(3.49)	8.43	(4.29)	27.63
SG	3.50	(0.83)	0.00	(0.19)	0.00	0.00	7.14	(8.24)	23.64
TOST	1.90	0.46	0.17	1.81	1.78	(2.33)	3.29	(3.16)	18.53
VSCO	2.78	0.19	0.01	(0.78)	3.31	(2.72)	5.51	(5.48)	21.99
WRBY	2.47	0.53	0.28	0.41	1.83	(3.20)	4.49	(3.91)	25.28

Allbirds Corporate Management

Michael Bufano	Chief Officer	Profile
Benny Joseph	Chief Officer	Profile
Adrian Nyman	Chief Officer	Profile
Kate Ridley	Chief Officer	Profile
Sandeep Verma	Chief Officer	Profile

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