Deckers Outdoor Correlations

DECK Stock

USD 104.03 1.07 1.02%

The current 90-days correlation between Deckers Outdoor and On Holding is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Deckers Outdoor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Deckers Outdoor moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Deckers Outdoor Correlation With Market

Very weak diversification

The correlation between Deckers Outdoor and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deckers Outdoor and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Deckers Stock please use our How to buy in Deckers Stock guide.

Moving together with Deckers Stock

0.61	ESCA	Escalade Incorporated Earnings Call Tomorrow	Pair Corr
0.82	HBI	Hanesbrands	Pair Corr
0.77	WTO	UTime Limited	Pair Corr
0.64	LULU	Lululemon Athletica	Pair Corr
0.69	NWTG	Newton Golf Symbol Change	Pair Corr

Moving against Deckers Stock

0.55	DOOO	BRP Inc	Pair Corr
0.49	GPRO	GoPro Inc	Pair Corr
0.39	BC	Brunswick Earnings Call This Week	Pair Corr
0.39	PII	Polaris Industries	Pair Corr
0.33	AS	Amer Sports,	Pair Corr
0.32	UAA	Under Armour A	Pair Corr
0.55	JL	J Long Group	Pair Corr
0.54	BIRD	Allbirds	Pair Corr
0.53	BH	Biglari Holdings	Pair Corr
0.46	W	Wayfair Sell-off Trend	Pair Corr
0.45	LE	Lands End	Pair Corr
0.44	MODG	Callaway Golf	Pair Corr
0.42	QS	Quantumscape Corp Earnings Call Today	Pair Corr
0.4	PLBY	Plby Group	Pair Corr
0.38	DIBS	1StdibsCom	Pair Corr
0.36	EM	Smart Share Global	Pair Corr

Related Correlations Analysis

	ONON	SKX	NKE	SHOO	CROX	DBI	ADDYY	CAL	VRA	WWW
ONON		0.76	0.35	0.83	0.71	0.57	0.6	0.07	0.4	0.67	ONON
SKX	0.76		0.6	0.83	0.62	0.24	0.3	-0.28	0.5	0.88	SKX
NKE	0.35	0.6		0.68	0.34	0.02	0.36	-0.32	0.66	0.84	NKE
SHOO	0.83	0.83	0.68		0.78	0.48	0.56	0.02	0.63	0.87	SHOO
CROX	0.71	0.62	0.34	0.78		0.6	0.61	0.5	0.3	0.52	CROX
DBI	0.57	0.24	0.02	0.48	0.6		0.68	0.55	0.14	0.13	DBI
ADDYY	0.6	0.3	0.36	0.56	0.61	0.68		0.38	0.34	0.35	ADDYY
CAL	0.07	-0.28	-0.32	0.02	0.5	0.55	0.38		-0.23	-0.36	CAL
VRA	0.4	0.5	0.66	0.63	0.3	0.14	0.34	-0.23		0.66	VRA
WWW	0.67	0.88	0.84	0.87	0.52	0.13	0.35	-0.36	0.66		WWW
	ONON	SKX	NKE	SHOO	CROX	DBI	ADDYY	CAL	VRA	WWW

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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

WWW	+ 0.88	SKX
WWW	+ 0.87	SHOO
WWW	+ 0.84	NKE
SHOO	+ 0.83	ONON
SHOO	+ 0.83	SKX
CROX	+ 0.78	SHOO

High negative correlations

WWW	- 0.36	CAL
CAL	- 0.32	NKE
CAL	- 0.28	SKX
VRA	- 0.23	CAL

Risk-Adjusted Indicators

There is a big difference between Deckers Stock performing well and Deckers 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 Deckers 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
ONON	1.69	0.20	0.12	0.31	1.53	(2.03)	3.82	(2.16)	18.06
SKX	1.12	0.41	0.26	1.25	0.50	(1.28)	2.67	(1.36)	24.75
NKE	1.86	0.28	0.19	0.32	1.46	(2.27)	4.12	(3.07)	18.60
SHOO	2.70	0.14	0.12	0.19	2.36	(3.42)	6.31	(3.77)	23.15
CROX	2.04	0.01	0.05	0.14	1.76	(2.65)	4.87	(2.78)	15.77
DBI	4.06	(0.12)	0.03	0.10	5.86	(4.15)	7.66	(7.89)	33.87
ADDYY	1.30	0.00	(0.01)	0.14	1.55	(1.35)	3.79	(2.61)	10.14
CAL	3.06	(0.31)	0.00	(0.01)	0.00	0.00	6.01	(6.17)	33.77
VRA	4.98	0.06	0.06	0.16	5.48	(5.94)	11.76	(7.78)	43.24
WWW	2.47	0.81	0.35	0.57	1.87	(3.00)	6.67	(2.75)	16.69

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