National Vision Correlations

EYE Stock

USD 25.31 0.22 0.88%

The current 90-days correlation between National Vision Holdings and Advance Auto Parts is 0.04 (i.e., Significant diversification). The correlation of National Vision 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.

National Vision Correlation With Market

Very weak diversification

The correlation between National Vision Holdings and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Vision Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with National Stock

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

Moving together with National Stock

0.97	W	Wayfair Sell-off Trend	Pair Corr
0.75	DIBS	1StdibsCom	Pair Corr
0.92	AN	AutoNation	Pair Corr
0.9	FL	Foot Locker	Pair Corr
0.96	JL	J Long Group	Pair Corr
0.69	LE	Lands End	Pair Corr
0.78	DLTH	Duluth Holdings	Pair Corr
0.86	VIPS	Vipshop Holdings Sell-off Trend	Pair Corr
0.71	DXLG	Destination XL Group	Pair Corr
0.9	EBAY	eBay Inc	Pair Corr
0.68	EDUC	Educational Development	Pair Corr
0.89	EPSM	Epsium Enterprise	Pair Corr
0.78	WEYS	Weyco Group	Pair Corr
0.76	ETSY	Etsy Inc	Pair Corr
0.69	EVGO	Evgo Inc	Pair Corr
0.98	FIVE	Five Below Sell-off Trend	Pair Corr
0.86	AAP	Advance Auto Parts	Pair Corr
0.82	ABG	Asbury Automotive	Pair Corr
0.63	AKA	AKA Brands Holding	Pair Corr
0.81	ANF	Abercrombie Fitch	Pair Corr
0.89	ASO	Academy Sports Outdoors	Pair Corr
0.67	BBY	Best Buy	Pair Corr
0.98	BKE	Buckle Inc	Pair Corr
0.66	FND	Floor Decor Holdings	Pair Corr
0.69	GCO	Genesco	Pair Corr

Moving against National Stock

0.51	JD	JD Inc Adr Aggressive Push	Pair Corr
0.87	AZI	Autozi Internet Tech	Pair Corr
0.51	CAL	Continental	Pair Corr
0.5	AEO	American Eagle Outfitters Sell-off Trend	Pair Corr
0.41	TJX	TJX Companies	Pair Corr

Related Correlations Analysis

	AZO	AAP	GPC	FIVE	DKS	RH	BBY	ULTA	ORLY	WSM
AZO		0.06	0.57	0.12	-0.04	0.31	0.35	0.04	0.56	0.44	AZO
AAP	0.06		0.62	0.87	0.27	0.14	0.46	0.89	-0.14	0.43	AAP
GPC	0.57	0.62		0.77	0.14	0.52	0.78	0.67	-0.07	0.77	GPC
FIVE	0.12	0.87	0.77		0.29	0.42	0.68	0.95	-0.38	0.67	FIVE
DKS	-0.04	0.27	0.14	0.29		0.58	0.33	0.31	0.01	0.55	DKS
RH	0.31	0.14	0.52	0.42	0.58		0.76	0.31	-0.21	0.89	RH
BBY	0.35	0.46	0.78	0.68	0.33	0.76		0.58	-0.28	0.81	BBY
ULTA	0.04	0.89	0.67	0.95	0.31	0.31	0.58		-0.31	0.56	ULTA
ORLY	0.56	-0.14	-0.07	-0.38	0.01	-0.21	-0.28	-0.31		-0.16	ORLY
WSM	0.44	0.43	0.77	0.67	0.55	0.89	0.81	0.56	-0.16		WSM
	AZO	AAP	GPC	FIVE	DKS	RH	BBY	ULTA	ORLY	WSM

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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

ULTA	+ 0.95	FIVE
ULTA	+ 0.89	AAP
WSM	+ 0.89	RH
FIVE	+ 0.87	AAP
WSM	+ 0.81	BBY
BBY	+ 0.78	GPC

High negative correlations

ORLY	- 0.38	FIVE
ORLY	- 0.31	ULTA
ORLY	- 0.28	BBY
ORLY	- 0.21	RH
WSM	- 0.16	ORLY
ORLY	- 0.14	AAP

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Vision 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 National Vision'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
AZO	1.07	(0.03)	(0.09)	0.04	1.25	(1.16)	2.48	(2.00)	6.66
AAP	3.41	1.06	0.33	1.41	2.46	(4.51)	6.28	(4.78)	65.27
GPC	1.10	(0.03)	(0.03)	0.10	1.15	(1.28)	2.80	(2.00)	6.45
FIVE	2.41	0.96	0.67	0.55	0.77	(3.06)	7.64	(2.44)	24.69
DKS	2.02	0.01	0.03	0.14	3.04	(2.14)	4.15	(3.52)	25.87
RH	3.02	0.02	0.06	0.14	3.23	(3.36)	6.39	(5.49)	23.92
BBY	1.78	0.01	0.02	0.14	1.99	(2.08)	3.93	(2.98)	13.84
ULTA	1.30	0.37	0.28	0.63	0.75	(1.57)	3.51	(1.81)	13.36
ORLY	1.09	(0.07)	0.00	(0.11)	0.00	0.00	2.05	(2.07)	5.63
WSM	1.68	0.05	0.07	0.16	1.62	(2.00)	3.56	(2.67)	12.90

National Vision Corporate Management

Priti Patel	Fred World	Profile
Christopher Laden	Chief Officer	Profile
Alex Louw	VP Officer	Profile
Bill Clark	Senior Officer	Profile
Jacqueline Grove	Development, Talent	Profile
Ravi Acharya	Chief VP	Profile

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