Dicks Sporting Correlations

DKS Stock

USD 191.69 3.32 1.76%

The current 90-days correlation between Dicks Sporting Goods and AutoZone is 0.34 (i.e., Weak diversification). The correlation of Dicks Sporting 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.

Dicks Sporting Correlation With Market

Poor diversification

The correlation between Dicks Sporting Goods and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dicks Sporting Goods and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Dicks Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dicks Sporting Goods. 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 Dicks Stock

0.92	BQ	Boqii Holding Limited	Pair Corr
0.91	FL	Foot Locker	Pair Corr
0.92	HD	Home Depot Earnings Call This Week	Pair Corr
0.67	JL	J Long Group	Pair Corr
0.82	LE	Lands End	Pair Corr
0.97	RH	RH	Pair Corr
0.92	VSCO	Victorias Secret	Pair Corr
0.94	WEYS	Weyco Group	Pair Corr
0.89	ETSY	Etsy Inc	Pair Corr
0.95	FLWS	1 800 FLOWERSCOM	Pair Corr
0.95	ABG	Asbury Automotive	Pair Corr
0.9	ASO	Academy Sports Outdoors	Pair Corr
0.89	BBY	Best Buy	Pair Corr
0.69	BGI	Birks Group	Pair Corr
0.68	DIT	AMCON Distributing	Pair Corr
0.92	FND	Floor Decor Holdings	Pair Corr
0.69	GAP	Gap, Symbol Change	Pair Corr
0.76	HVT	Haverty Furniture	Pair Corr
0.95	LAD	Lithia Motors	Pair Corr
0.97	LOW	Lowes Companies	Pair Corr
0.89	TLF	Tandy Leather Factory Earnings Call Today	Pair Corr
0.91	GLBE	Global E Online	Pair Corr
0.88	HOUR	Hour Loop	Pair Corr
0.8	ZUMZ	Zumiez Inc	Pair Corr
0.89	JFBR	Jeffs Brands	Pair Corr
0.85	JMIA	Jumia Technologies	Pair Corr
0.84	KIRK	Kirklands	Pair Corr
0.77	LOGC	Contextlogic Symbol Change	Pair Corr
0.91	LVLU	Lulus Fashion Lounge	Pair Corr
0.86	PETS	PetMed Express	Pair Corr

Moving against Dicks Stock

0.74	GRPN	Groupon	Pair Corr
0.63	RAY	Raytech Holding	Pair Corr

Related Correlations Analysis

	RH	AZO	BBY	ULTA	ORLY	WSM	WOOF
RH		-0.71	0.91	0.22	-0.58	0.95	0.04	RH
AZO	-0.71		-0.62	0.17	0.84	-0.69	0.05	AZO
BBY	0.91	-0.62		0.07	-0.49	0.95	-0.15	BBY
ULTA	0.22	0.17	0.07		0.31	0.09	0.64	ULTA
ORLY	-0.58	0.84	-0.49	0.31		-0.63	0.25	ORLY
WSM	0.95	-0.69	0.95	0.09	-0.63		-0.08	WSM
WOOF	0.04	0.05	-0.15	0.64	0.25	-0.08		WOOF
	RH	AZO	BBY	ULTA	ORLY	WSM	WOOF

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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

WSM	+ 0.95	RH
WSM	+ 0.95	BBY
BBY	+ 0.91	RH
ORLY	+ 0.84	AZO
WOOF	+ 0.64	ULTA
ORLY	+ 0.31	ULTA

High negative correlations

AZO	- 0.71	RH
WSM	- 0.69	AZO
WSM	- 0.63	ORLY
BBY	- 0.62	AZO
ORLY	- 0.58	RH
ORLY	- 0.49	BBY

Risk-Adjusted Indicators

There is a big difference between Dicks Stock performing well and Dicks Sporting 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 Dicks Sporting'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
RH	4.41	(0.44)	0.00	(0.25)	0.00	0.00	6.47	(10.12)	46.55
AZO	1.07	0.18	0.15	0.33	1.55	(1.12)	2.37	(2.14)	8.76
BBY	2.37	(0.32)	0.00	1.31	0.00	0.00	3.92	(6.13)	21.90
ULTA	2.09	0.11	0.00	(0.02)	0.00	0.00	3.56	(4.48)	18.25
ORLY	1.29	0.11	0.13	0.20	1.41	(1.45)	2.41	(2.05)	7.12
WSM	2.50	(0.43)	0.00	3.08	0.00	0.00	3.86	(5.62)	20.33
WOOF	3.32	0.21	0.05	0.08	3.93	(3.88)	6.44	(7.08)	43.53

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