Buckle Correlations

Stocks . USA . 
Stock . Buckle Inc
BKE Stock  USD 48.95  0.91  1.89%   
The current 90-days correlation between Buckle Inc and Shoe Carnival is 0.7 (i.e., Poor diversification). The correlation of Buckle 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.

Buckle Correlation With Market

Poor diversification

The correlation between Buckle Inc and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buckle Inc and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Buckle Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Buckle Stock

  0.91FL Foot LockerPairCorr
  0.87ANF Abercrombie FitchPairCorr
  0.77GES Guess IncPairCorr
  0.79GRPN GrouponPairCorr
  0.88SCVL Shoe CarnivalPairCorr
  0.92URBN Urban OutfittersPairCorr
  0.73VUZI Vuzix Corp CmnPairCorr
  0.87FOSL Fossil GroupPairCorr
  0.69LEG Leggett PlattPairCorr
  0.98RRR Red Rock ResortsPairCorr
  0.93UAA Under Armour APairCorr
  0.82GPRO GoPro IncPairCorr
  0.78SONO Sonos IncPairCorr
  0.77PLUG Plug Power Aggressive PushPairCorr
  0.98NVDA NVIDIA Aggressive PushPairCorr
  0.84F Ford Motor Earnings Call TodayPairCorr
  0.62GITS Global Interactive Symbol ChangePairCorr
  0.95JPM JPMorgan Chase Sell-off TrendPairCorr
  0.95GE GE Aerospace Earnings Call TodayPairCorr

Moving against Buckle Stock

  0.95MPW Medical Properties TrustPairCorr
  0.53AEO American Eagle Outfitters Sell-off TrendPairCorr
  0.51ROST Ross StoresPairCorr
  0.36PLCE Childrens PlacePairCorr
  0.52KO Coca Cola Earnings Call TodayPairCorr
  0.43VZ Verizon Communications Aggressive PushPairCorr
  0.41PG Procter Gamble Earnings Call This WeekPairCorr
  0.3707274NBG7 BAYNGR 5 15PairCorr

Related Correlations Analysis

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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   
GCO
+ 0.83
SCVL
GES
+ 0.8
SCVL
URBN
+ 0.78
SCVL
GCO
+ 0.77
BURL
ZUMZ
+ 0.67
SCVL
SCVL
+ 0.65
BURL
  
High negative correlations   
GES
- 0.38
PLCE
URBN
- 0.27
PLCE
PLCE
- 0.16
SCVL
ZUMZ
- 0.0
PLCE

Risk-Adjusted Indicators

There is a big difference between Buckle Stock performing well and Buckle 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 Buckle'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.

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