Continental Correlations

CAL Stock  USD 15.72  0.59  3.90%   
The current 90-days correlation between Continental and Wolverine World Wide is -0.19 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Continental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caleres moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Continental Correlation With Market

Very weak diversification

The correlation between Caleres and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caleres and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caleres. 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.

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Risk-Adjusted Indicators

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