Gildan Activewear Correlations

GIL Stock

USD 50.84 0.69 1.38%

The current 90-days correlation between Gildan Activewear and Olympic Steel is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gildan Activewear moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gildan Activewear moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gildan Activewear Correlation With Market

Poor diversification

The correlation between Gildan Activewear and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gildan Activewear and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gildan Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gildan Activewear. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

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

Moving together with Gildan Stock

0.65	BC	Brunswick	Pair Corr
0.93	RL	Ralph Lauren Corp	Pair Corr
0.88	FOSL	Fossil Group	Pair Corr
0.85	HAS	Hasbro Inc	Pair Corr
0.69	HWH	HWH International	Pair Corr
0.77	MAT	Mattel Inc	Pair Corr
0.65	MPX	Marine Products	Pair Corr
0.83	SKX	Skechers USA	Pair Corr
0.79	JOUT	Johnson Outdoors	Pair Corr
0.71	JRSH	Jerash Holdings	Pair Corr
0.75	PLBY	Plby Group	Pair Corr
0.9	RCKY	Rocky Brands	Pair Corr
0.75	SONY	Sony Group Corp	Pair Corr
0.84	SONO	Sonos Inc	Pair Corr
0.72	BH	Biglari Holdings	Pair Corr
0.85	GM	General Motors Aggressive Push	Pair Corr
0.73	HD	Home Depot Sell-off Trend	Pair Corr
0.92	IH	Ihuman Inc	Pair Corr

Moving against Gildan Stock

0.68	SG	Sweetgreen	Pair Corr
0.63	VSTA	Vasta Platform	Pair Corr
0.61	EEIQ	Elite Education Group Earnings Call This Week	Pair Corr
0.56	EDTK	Skillful Craftsman	Pair Corr
0.45	NWTG	Newton Golf Symbol Change	Pair Corr

Related Correlations Analysis

	CECO	SECVY	STKL	NX	ZEUS	PKX	BOF
CECO		0.88	0.89	0.63	0.39	0.43	0.31	CECO
SECVY	0.88		0.93	0.51	0.29	0.3	0.15	SECVY
STKL	0.89	0.93		0.61	0.35	0.32	0.27	STKL
NX	0.63	0.51	0.61		0.46	0.69	0.65	NX
ZEUS	0.39	0.29	0.35	0.46		0.54	0.47	ZEUS
PKX	0.43	0.3	0.32	0.69	0.54		0.6	PKX
BOF	0.31	0.15	0.27	0.65	0.47	0.6		BOF
	CECO	SECVY	STKL	NX	ZEUS	PKX	BOF

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Risk-Adjusted Indicators

There is a big difference between Gildan Stock performing well and Gildan Activewear 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 Gildan Activewear'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
CECO	2.66	0.29	0.06	6.61	2.91	(2.95)	6.19	(4.36)	20.71
SECVY	0.90	0.47	0.00	(2.42)	0.00	0.00	0.00	0.00	30.09
STKL	3.06	0.31	0.10	0.32	3.05	(3.72)	7.64	(4.88)	33.17
NX	3.04	0.06	0.04	0.15	3.16	(3.94)	9.09	(4.67)	18.08
ZEUS	1.99	0.05	0.02	0.15	2.75	(2.00)	5.53	(3.90)	14.85
PKX	1.88	0.10	0.04	0.21	1.98	(2.20)	5.05	(3.44)	14.43
BOF	3.73	0.11	0.03	0.19	4.91	(3.87)	8.61	(8.76)	24.92

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