Noodles Correlations
| NDLS Stock | USD 1.40 0.01 0.71% |
The correlation of Noodles 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Noodles moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Noodles Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Noodles Company and NYA is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Noodles Company and NYA in the same portfolio, assuming nothing else is changed.
Noodles |
The ability to find closely correlated positions to Noodles could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Noodles when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Noodles - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Noodles Company to buy it.
Moving together with Noodles Stock
| 0.82 | WH | Wyndham Hotels Resorts | PairCorr |
| 0.83 | BFI | Burgerfi International | PairCorr |
| 0.69 | CZR | Caesars Entertainment Financial Report 7th of May 2024 | PairCorr |
| 0.74 | FAT | FAT Brands Financial Report 13th of May 2024 | PairCorr |
Moving against Noodles Stock
| 0.87 | CMG | Chipotle Mexican Grill | PairCorr |
| 0.85 | BH | Biglari Holdings Earnings Call This Week | PairCorr |
| 0.83 | SG | Sweetgreen Buyout Trend | PairCorr |
| 0.69 | WING | Wingstop Financial Report 1st of May 2024 | PairCorr |
| 0.63 | XPOF | Xponential Fitness Financial Report 2nd of May 2024 | PairCorr |
| 0.6 | RRR | Red Rock Resorts Financial Report 2nd of May 2024 | PairCorr |
| 0.59 | H | Hyatt Hotels Earnings Call This Week | PairCorr |
| 0.58 | MSC | Studio City International | PairCorr |
| 0.51 | HLT | Hilton Worldwide Holdings | PairCorr |
| 0.45 | EAT | Brinker International Earnings Call This Week | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Noodles Stock performing well and Noodles 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 Noodles' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| YTRA | 1.98 | (0.48) | 0.00 | 2.65 | 0.00 | 3.55 | 15.29 | |||
| DESP | 2.53 | 0.34 | 0.13 | 0.24 | 2.56 | 5.72 | 21.38 | |||
| LIND | 2.42 | (0.57) | 0.00 | (0.18) | 0.00 | 5.44 | 15.33 | |||
| MMYT | 2.04 | 0.44 | 0.15 | 0.40 | 2.55 | 4.70 | 17.67 | |||
| TUIFF | 1.58 | (0.22) | 0.00 | (0.69) | 0.00 | 4.94 | 24.83 | |||
| TRIP | 1.57 | 0.38 | 0.21 | 0.87 | 1.30 | 4.01 | 18.53 | |||
| TNL | 1.21 | 0.15 | 0.06 | 0.50 | 1.44 | 2.89 | 8.63 | |||
| TOUR | 3.71 | 0.37 | 0.10 | 0.40 | 3.47 | 8.11 | 28.15 | |||
| AMADF | 1.75 | (0.16) | 0.00 | (0.28) | 0.00 | 4.45 | 11.59 |
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Noodles Corporate Directors
Noodles corporate directors refer to members of a Noodles board of directors. The board of directors generally takes responsibility for the Noodles' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Noodles' board members must vote for the resolution. The Noodles board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Francois Dufresne | Director | Profile | |
| James Rand | Director | Profile | |
| Dave Boennighausen | CFO and Director | Profile | |
| Johanna Murphy | Independent Director | Profile |
Already Invested in Noodles Company?
The danger of trading Noodles Company is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Noodles is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Noodles. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Noodles Company is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Noodles Company is a strong investment it is important to analyze Noodles' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Noodles' future performance. For an informed investment choice regarding Noodles Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Noodles Company. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
Complementary Tools for Noodles Stock analysis
When running Noodles' price analysis, check to measure Noodles' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Noodles is operating at the current time. Most of Noodles' value examination focuses on studying past and present price action to predict the probability of Noodles' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Noodles' price. Additionally, you may evaluate how the addition of Noodles to your portfolios can decrease your overall portfolio volatility.
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Is Noodles' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Noodles. If investors know Noodles will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Noodles listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.12) | Earnings Share (0.21) | Revenue Per Share 10.976 | Quarterly Revenue Growth (0.09) | Return On Assets 0.0087 |
The market value of Noodles Company is measured differently than its book value, which is the value of Noodles that is recorded on the company's balance sheet. Investors also form their own opinion of Noodles' value that differs from its market value or its book value, called intrinsic value, which is Noodles' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Noodles' market value can be influenced by many factors that don't directly affect Noodles' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Noodles' value and its price as these two are different measures arrived at by different means. Investors typically determine if Noodles is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Noodles' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.