Destination Correlations
| DXLG Stock | USD 3.37 0.03 0.88% |
The correlation of Destination 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Destination moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Destination XL Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Destination XL Group and NYA 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 Destination XL Group and NYA in the same portfolio, assuming nothing else is changed.
Destination |
The ability to find closely correlated positions to Destination could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Destination when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Destination - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Destination XL Group to buy it.
Moving together with Destination Stock
| 0.73 | AAN | Aarons | PairCorr |
| 0.82 | FNKO | Funko Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.65 | GCO | Genesco Financial Report 23rd of May 2024 | PairCorr |
| 0.76 | ZUMZ | Zumiez Inc Financial Report 6th of June 2024 | PairCorr |
| 0.77 | BNED | Barnes Noble Education | PairCorr |
| 0.87 | TLYS | Tillys Inc Financial Report 6th of June 2024 | PairCorr |
| 0.9 | CATO | Cato | PairCorr |
Moving against Destination Stock
| 0.84 | FTEL | Fitell Ordinary | PairCorr |
| 0.84 | SG | Sweetgreen Buyout Trend | PairCorr |
| 0.81 | BH | Biglari Holdings Earnings Call This Week | PairCorr |
| 0.8 | DASH | DoorDash Class A Financial Report 2nd of May 2024 | PairCorr |
| 0.79 | SCVL | Shoe Carnival Financial Report 22nd of May 2024 | PairCorr |
| 0.68 | F | Ford Motor Aggressive Push | PairCorr |
| 0.67 | TLF | Tandy Leather Factory | PairCorr |
| 0.62 | H | Hyatt Hotels Earnings Call This Week | PairCorr |
| 0.6 | LE | Lands End Financial Report 6th of June 2024 | PairCorr |
| 0.56 | BBY | Best Buy Sell-off Trend | PairCorr |
| 0.55 | JILL | JJill Inc Financial Report 5th of June 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Destination Stock performing well and Destination 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 Destination'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.87 | 0.12 | 0.06 | 0.16 | 2.30 | 3.27 | 30.88 | |||
| MSFT | 0.98 | (0.07) | (0.05) | 0.01 | 1.15 | 2.11 | 5.31 | |||
| UBER | 1.64 | (0.01) | 0.04 | 0.07 | 1.61 | 2.83 | 18.39 | |||
| F | 1.58 | 0.10 | 0.10 | 0.12 | 1.63 | 4.88 | 9.61 | |||
| T | 0.92 | 0.00 | (0.05) | 0.08 | 1.08 | 1.95 | 5.92 | |||
| A | 1.22 | (0.03) | 0.01 | 0.06 | 1.36 | 2.29 | 6.31 | |||
| CRM | 1.22 | (0.12) | (0.04) | 0.00 | 1.95 | 2.83 | 10.84 | |||
| JPM | 0.80 | 0.10 | 0.08 | 0.16 | 1.25 | 1.94 | 8.65 | |||
| MRK | 0.68 | 0.09 | 0.10 | 0.20 | 0.54 | 1.35 | 6.92 | |||
| XOM | 0.81 | 0.23 | 0.18 | 0.57 | 0.71 | 1.96 | 4.66 |
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Destination Corporate Directors
Destination corporate directors refer to members of a Destination board of directors. The board of directors generally takes responsibility for the Destination's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Destination's board members must vote for the resolution. The Destination board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| George Porter | Independent Director | Profile | |
| John Kyees | Director | Profile | |
| Willem Mesdag | Director | Profile | |
| Jesse Choper | Independent Director | Profile |
Already Invested in Destination XL Group?
The danger of trading Destination XL Group is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Destination is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Destination. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Destination XL Group is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Destination XL Group is a strong investment it is important to analyze Destination's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Destination's future performance. For an informed investment choice regarding Destination Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Destination XL Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Complementary Tools for Destination Stock analysis
When running Destination's price analysis, check to measure Destination's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Destination is operating at the current time. Most of Destination's value examination focuses on studying past and present price action to predict the probability of Destination's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Destination's price. Additionally, you may evaluate how the addition of Destination to your portfolios can decrease your overall portfolio volatility.
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
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| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |
Is Destination's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Destination. If investors know Destination will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Destination listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.38) | Earnings Share 0.43 | Revenue Per Share 8.552 | Quarterly Revenue Growth (0.05) | Return On Assets 0.0742 |
The market value of Destination XL Group is measured differently than its book value, which is the value of Destination that is recorded on the company's balance sheet. Investors also form their own opinion of Destination's value that differs from its market value or its book value, called intrinsic value, which is Destination's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Destination's market value can be influenced by many factors that don't directly affect Destination's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Destination's value and its price as these two are different measures arrived at by different means. Investors typically determine if Destination is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Destination's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.