Nathans Famous Correlations

NATH Stock

USD 98.38 3.09 3.05%

The current 90-days correlation between Nathans Famous and Ark Restaurants Corp is 0.03 (i.e., Significant diversification). The correlation of Nathans Famous 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.

Nathans Famous Correlation With Market

Very weak diversification

The correlation between Nathans Famous and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nathans Famous and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nathans Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nathans Famous. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Nathans Stock please use our How to Invest in Nathans Famous guide.

Moving together with Nathans Stock

0.81	RRR	Red Rock Resorts Earnings Call Today	Pair Corr
0.8	FL	Foot Locker	Pair Corr
0.76	RL	Ralph Lauren Corp	Pair Corr
0.79	VUZI	Vuzix Corp Cmn	Pair Corr
0.78	EPSM	Epsium Enterprise	Pair Corr
0.61	ANF	Abercrombie Fitch	Pair Corr
0.71	BBY	Best Buy	Pair Corr
0.83	BKE	Buckle Inc	Pair Corr
0.7	FOSL	Fossil Group	Pair Corr
0.71	GES	Guess Inc	Pair Corr
0.78	HVT	Haverty Furniture	Pair Corr
0.67	LEG	Leggett Platt	Pair Corr
0.84	UAA	Under Armour A	Pair Corr
0.83	GPRO	GoPro Inc	Pair Corr
0.88	GRPN	Groupon	Pair Corr
0.76	SCVL	Shoe Carnival	Pair Corr
0.81	ARHS	Arhaus Inc	Pair Corr
0.71	SONO	Sonos Inc	Pair Corr
0.79	URBN	Urban Outfitters	Pair Corr

Moving against Nathans Stock

0.51	AEO	American Eagle Outfitters	Pair Corr
0.74	TOY	Toys R ANZ	Pair Corr
0.51	PLCE	Childrens Place	Pair Corr
0.45	ROST	Ross Stores	Pair Corr
0.51	603057	Shanghai Ziyan Foods	Pair Corr
0.5	BET	Betmakers Technology Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RAVE	ARKR	STKS	BDL	NKSH	SENEA	MLAB	OFLX
RAVE		0.37	0.8	0.4	0.65	0.7	-0.3	0.75	RAVE
ARKR	0.37		0.06	-0.28	-0.28	-0.19	0.4	0.02	ARKR
STKS	0.8	0.06		0.5	0.81	0.74	-0.35	0.91	STKS
BDL	0.4	-0.28	0.5		0.72	0.73	-0.87	0.49	BDL
NKSH	0.65	-0.28	0.81	0.72		0.91	-0.68	0.8	NKSH
SENEA	0.7	-0.19	0.74	0.73	0.91		-0.72	0.76	SENEA
MLAB	-0.3	0.4	-0.35	-0.87	-0.68	-0.72		-0.43	MLAB
OFLX	0.75	0.02	0.91	0.49	0.8	0.76	-0.43		OFLX
	RAVE	ARKR	STKS	BDL	NKSH	SENEA	MLAB	OFLX

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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

OFLX	+ 0.91	STKS
SENEA	+ 0.91	NKSH
NKSH	+ 0.81	STKS
STKS	+ 0.8	RAVE
OFLX	+ 0.8	NKSH
OFLX	+ 0.76	SENEA

High negative correlations

MLAB	- 0.87	BDL
MLAB	- 0.72	SENEA
MLAB	- 0.68	NKSH
OFLX	- 0.43	MLAB
MLAB	- 0.35	STKS
MLAB	- 0.3	RAVE

Risk-Adjusted Indicators

There is a big difference between Nathans Stock performing well and Nathans Famous 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 Nathans Famous' 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
RAVE	1.85	0.27	0.10	0.53	1.86	(2.33)	4.56	(2.94)	10.62
ARKR	2.40	0.19	0.02	3.46	2.61	(3.38)	5.58	(3.83)	38.55
STKS	4.09	0.36	0.09	0.30	5.30	(4.18)	9.94	(8.95)	29.76
BDL	2.36	0.57	0.10	(1.77)	2.79	(3.60)	6.74	(3.32)	30.91
NKSH	1.43	0.12	0.07	0.25	1.44	(1.63)	3.91	(2.86)	8.86
SENEA	1.45	0.20	0.10	0.39	1.39	(1.62)	3.16	(2.59)	8.40
MLAB	2.39	(0.94)	0.00	(0.38)	0.00	0.00	3.69	(6.38)	14.48
OFLX	2.22	(0.06)	0.03	0.10	2.21	(2.65)	7.01	(4.19)	14.80

Nathans Famous Corporate Executives

Elected by the shareholders, the Nathans Famous' board of directors comprises two types of representatives: Nathans Famous inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nathans. The board's role is to monitor Nathans Famous' management team and ensure that shareholders' interests are well served. Nathans Famous' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nathans Famous' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Robert CPA	CFO, Finance	Profile
	Robert Steinberg	CFO, Finance	Profile

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