Canada Goose Correlations

GOOS Stock

USD 14.02 0.10 0.71%

The current 90-days correlation between Canada Goose Holdings and Capri Holdings is 0.12 (i.e., Average diversification). The correlation of Canada Goose 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.

Canada Goose Correlation With Market

Good diversification

The correlation between Canada Goose Holdings and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canada Goose Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Canada Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canada Goose 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 persons.

Moving together with Canada Stock

0.9	AS	Amer Sports,	Pair Corr
0.86	BC	Brunswick Earnings Call This Week	Pair Corr
0.84	RL	Ralph Lauren Corp	Pair Corr
0.86	UA	Under Armour C	Pair Corr
0.82	DOOO	BRP Inc	Pair Corr
0.68	VUZI	Vuzix Corp Cmn	Pair Corr
0.74	BZH	Beazer Homes USA	Pair Corr
0.8	FOSL	Fossil Group	Pair Corr
0.75	MAT	Mattel Inc Earnings Call This Week	Pair Corr
0.85	UAA	Under Armour A	Pair Corr
0.74	GPRO	GoPro Inc	Pair Corr
0.74	MBUU	Malibu Boats	Pair Corr
0.76	MCFT	MCBC Holdings	Pair Corr
0.64	MODG	Callaway Golf	Pair Corr
0.94	PLBY	Plby Group	Pair Corr
0.67	SONO	Sonos Inc	Pair Corr
0.85	BIRD	Allbirds	Pair Corr
0.74	F	Ford Motor Earnings Call This Week	Pair Corr
0.83	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.9	W	Wayfair	Pair Corr
0.62	DIBS	1StdibsCom	Pair Corr
0.79	AN	AutoNation	Pair Corr

Moving against Canada Stock

0.72	CRI	Carters Earnings Call This Week	Pair Corr
0.63	VNCE	Vince Holding Corp	Pair Corr
0.58	ESCA	Escalade Incorporated Earnings Call This Week	Pair Corr
0.31	VEEE	Twin Vee Powercats	Pair Corr
0.81	SG	Sweetgreen	Pair Corr
0.74	NWTG	Newton Golf Symbol Change	Pair Corr
0.62	JD	JD Inc Adr Aggressive Push	Pair Corr
0.54	TM	Toyota Motor	Pair Corr

Related Correlations Analysis

	CPRI	FIVE	GOOS	LEVI	RH	RL	TPR	UAA	VFC
CPRI		0.85	0.79	0.87	0.72	0.94	0.89	0.82	0.64	CPRI
FIVE	0.85		0.9	0.83	0.42	0.93	0.87	0.93	0.29	FIVE
GOOS	0.79	0.9		0.88	0.3	0.88	0.86	0.87	0.14	GOOS
LEVI	0.87	0.83	0.88		0.59	0.85	0.97	0.78	0.31	LEVI
RH	0.72	0.42	0.3	0.59		0.57	0.6	0.42	0.77	RH
RL	0.94	0.93	0.88	0.85	0.57		0.86	0.89	0.52	RL
TPR	0.89	0.87	0.86	0.97	0.6	0.86		0.79	0.33	TPR
UAA	0.82	0.93	0.87	0.78	0.42	0.89	0.79		0.32	UAA
VFC	0.64	0.29	0.14	0.31	0.77	0.52	0.33	0.32		VFC
	CPRI	FIVE	GOOS	LEVI	RH	RL	TPR	UAA	VFC

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Risk-Adjusted Indicators

There is a big difference between Canada Stock performing well and Canada Goose 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 Canada Goose'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
CPRI	2.04	0.28	0.13	0.30	2.24	(2.17)	4.79	(3.97)	16.59
FIVE	2.41	0.96	0.67	0.55	0.77	(3.06)	7.64	(2.44)	24.69
GOOS	2.26	0.94	0.36	(3.47)	1.65	(2.79)	5.14	(3.26)	24.32
LEVI	1.76	0.45	0.25	0.78	1.28	(2.23)	3.66	(2.64)	13.89
RH	3.02	0.02	0.06	0.14	3.23	(3.36)	6.39	(5.49)	23.92
RL	1.39	0.41	0.39	0.49	0.71	(1.95)	3.89	(1.81)	8.96
TPR	1.46	0.58	0.36	0.58	0.96	(1.68)	4.30	(2.46)	9.95
UAA	2.17	0.23	0.10	0.32	1.99	(2.36)	4.86	(3.39)	17.19
VFC	2.64	(0.17)	0.02	0.07	3.80	(2.70)	5.70	(4.64)	24.49

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