Movado Correlations

MOV Stock

USD 17.42 0.03 0.17%

The current 90-days correlation between Movado Group and MYT Netherlands Parent is 0.09 (i.e., Significant diversification). The correlation of Movado 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.

Movado Correlation With Market

Very weak diversification

The correlation between Movado Group and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Movado Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Movado Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Movado Group. 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 Movado Stock

0.96	BC	Brunswick	Pair Corr
0.71	RL	Ralph Lauren Corp	Pair Corr
0.9	UA	Under Armour C	Pair Corr
0.82	DOOO	BRP Inc Earnings Call Tomorrow	Pair Corr
0.71	VNCE	Vince Holding Corp	Pair Corr
0.73	EZGO	EZGO Technologies	Pair Corr
0.9	BZH	Beazer Homes USA	Pair Corr
0.62	CCS	Century Communities	Pair Corr
0.84	FOSL	Fossil Group	Pair Corr
0.62	CRI	Carters	Pair Corr
0.62	DHI	DR Horton	Pair Corr
0.85	GIL	Gildan Activewear	Pair Corr
0.77	HAS	Hasbro Inc	Pair Corr
0.9	HBI	Hanesbrands	Pair Corr
0.64	HOV	Hovnanian Enterprises Downward Rally	Pair Corr
0.84	HWH	HWH International	Pair Corr
0.79	KBH	KB Home	Pair Corr
0.65	KTB	Kontoor Brands	Pair Corr
0.95	MAT	Mattel Inc	Pair Corr
0.82	MHO	MI Homes	Pair Corr
0.65	MSN	Emerson Radio	Pair Corr
0.74	MTH	Meritage	Pair Corr
0.87	NKE	Nike Inc	Pair Corr
0.86	OXM	Oxford Industries	Pair Corr
0.93	PII	Polaris Industries	Pair Corr
0.7	SGC	Superior Uniform	Pair Corr
0.87	SKY	Skyline	Pair Corr
0.79	SKX	Skechers USA Sell-off Trend	Pair Corr
0.67	TPH	TRI Pointe Homes	Pair Corr
0.8	TPR	Tapestry	Pair Corr
0.9	UAA	Under Armour A Aggressive Push	Pair Corr
0.64	UHG	United Homes Group	Pair Corr

Moving against Movado Stock

0.67

AREBW

American Rebel Holdings

Pair Corr

Related Correlations Analysis

	MYTE	ELA	TPR	CPRI	LANV	BRLT	REAL	SIG
MYTE		-0.68	0.14	0.75	-0.22	-0.32	0.11	-0.62	MYTE
ELA	-0.68		0.16	-0.38	-0.08	0.3	0.12	0.49	ELA
TPR	0.14	0.16		0.67	-0.23	-0.29	0.41	0.22	TPR
CPRI	0.75	-0.38	0.67		-0.21	-0.28	0.35	-0.31	CPRI
LANV	-0.22	-0.08	-0.23	-0.21		0.51	-0.32	0.53	LANV
BRLT	-0.32	0.3	-0.29	-0.28	0.51		0.14	0.48	BRLT
REAL	0.11	0.12	0.41	0.35	-0.32	0.14		-0.02	REAL
SIG	-0.62	0.49	0.22	-0.31	0.53	0.48	-0.02		SIG
	MYTE	ELA	TPR	CPRI	LANV	BRLT	REAL	SIG

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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

CPRI	+ 0.75	MYTE
CPRI	+ 0.67	TPR
SIG	+ 0.53	LANV
BRLT	+ 0.51	LANV
SIG	+ 0.49	ELA
SIG	+ 0.48	BRLT

High negative correlations

ELA	- 0.68	MYTE
SIG	- 0.62	MYTE
CPRI	- 0.38	ELA
REAL	- 0.32	LANV
BRLT	- 0.32	MYTE
SIG	- 0.31	CPRI

Risk-Adjusted Indicators

There is a big difference between Movado Stock performing well and Movado 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 Movado'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
MYTE	3.17	(0.24)	0.00	(3.18)	0.00	0.00	6.56	(5.70)	34.31
ELA	2.61	(0.06)	0.00	(0.14)	0.00	0.00	6.43	(6.31)	15.96
TPR	2.11	0.03	0.00	(0.01)	0.00	0.00	3.73	(3.97)	16.48
CPRI	3.34	(0.04)	0.00	(0.05)	0.00	0.00	6.78	(8.91)	41.66
LANV	3.13	0.20	0.06	0.47	3.49	(3.53)	6.73	(5.29)	17.35
BRLT	2.67	0.09	0.02	0.10	3.66	(2.82)	5.76	(5.33)	21.04
REAL	4.66	0.01	0.00	(0.03)	0.00	0.00	8.25	(8.65)	40.85
SIG	2.97	0.50	0.13	0.25	3.37	(3.41)	7.21	(5.59)	26.88

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