Red Rock Correlations

RRR Stock

USD 54.88 0.49 0.88%

The current 90-days correlation between Red Rock Resorts and Dutch Bros is 0.47 (i.e., Very weak diversification). The correlation of Red Rock 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.

Red Rock Correlation With Market

Very weak diversification

The correlation between Red Rock Resorts and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Red Rock Resorts and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Red Rock Resorts. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Red Stock

0.85	FL	Foot Locker	Pair Corr
0.88	RL	Ralph Lauren Corp	Pair Corr
0.68	VUZI	Vuzix Corp Cmn	Pair Corr
0.83	EPSM	Epsium Enterprise	Pair Corr
0.88	ANF	Abercrombie Fitch	Pair Corr
0.63	BBY	Best Buy	Pair Corr
0.98	BKE	Buckle Inc	Pair Corr
0.85	FOSL	Fossil Group	Pair Corr
0.67	FND	Floor Decor Holdings	Pair Corr
0.83	GES	Guess Inc	Pair Corr
0.88	HVT	Haverty Furniture	Pair Corr
0.73	LEG	Leggett Platt	Pair Corr
0.67	TPH	TRI Pointe Homes Earnings Call This Week	Pair Corr
0.89	UAA	Under Armour A	Pair Corr
0.79	GPRO	GoPro Inc	Pair Corr
0.91	GRPN	Groupon	Pair Corr
0.87	SCVL	Shoe Carnival	Pair Corr
0.77	ARHS	Arhaus Inc	Pair Corr
0.8	SONO	Sonos Inc	Pair Corr
0.89	URBN	Urban Outfitters	Pair Corr
0.81	INBX	Inhibrx Biosciences,	Pair Corr
0.76	LNDNF	Lundin Energy AB	Pair Corr

Moving against Red Stock

0.51	AEO	American Eagle Outfitters	Pair Corr
0.77	TOY	Toys R ANZ	Pair Corr
0.55	ROST	Ross Stores	Pair Corr
0.35	PLCE	Childrens Place	Pair Corr
0.59	603057	Shanghai Ziyan Foods	Pair Corr
0.35	07274NBG7	BAYNGR 5 15	Pair Corr
0.33	BET	Betmakers Technology Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	BROS	CMG	COST	DIS	DPZ	NKE	V	WMT
BROS		0.29	0.52	0.7	-0.25	0.26	0.81	0.48	BROS
CMG	0.29		-0.21	0.76	-0.43	0.85	0.29	0.36	CMG
COST	0.52	-0.21		0.07	0.24	-0.24	0.63	0.63	COST
DIS	0.7	0.76	0.07		-0.54	0.78	0.65	0.42	DIS
DPZ	-0.25	-0.43	0.24	-0.54		-0.41	-0.12	-0.06	DPZ
NKE	0.26	0.85	-0.24	0.78	-0.41		0.36	0.27	NKE
V	0.81	0.29	0.63	0.65	-0.12	0.36		0.67	V
WMT	0.48	0.36	0.63	0.42	-0.06	0.27	0.67		WMT
	BROS	CMG	COST	DIS	DPZ	NKE	V	WMT

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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

NKE	+ 0.85	CMG
V	+ 0.81	BROS
NKE	+ 0.78	DIS
DIS	+ 0.76	CMG
DIS	+ 0.7	BROS
WMT	+ 0.67	V

High negative correlations

DPZ	- 0.54	DIS
DPZ	- 0.43	CMG
NKE	- 0.41	DPZ
DPZ	- 0.25	BROS
NKE	- 0.24	COST
COST	- 0.21	CMG

Risk-Adjusted Indicators

There is a big difference between Red Stock performing well and Red Rock 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 Red Rock'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
BROS	2.08	(0.01)	0.02	0.12	2.23	(2.33)	4.14	(3.94)	16.33
CMG	1.49	0.02	0.00	0.15	1.58	(1.74)	3.72	(2.82)	7.88
COST	0.86	(0.12)	0.00	(0.08)	0.00	0.00	2.24	(1.68)	7.00
DIS	1.17	0.43	0.46	0.55	0.33	(1.56)	2.96	(1.27)	12.45
DPZ	0.95	(0.10)	0.00	(0.06)	0.00	0.00	1.82	(1.88)	6.48
NKE	1.85	0.24	0.17	0.29	1.51	(2.28)	4.12	(3.07)	18.60
V	0.96	(0.07)	(0.04)	0.06	1.72	(0.86)	1.64	(2.33)	8.52
WMT	0.86	0.04	(0.09)	(2.65)	0.97	(0.99)	1.96	(1.56)	5.03

Red Rock Corporate Management

Wes Allison	Chief Officer	Profile
Frank III	Chairman CEO	Profile
Scott Kreeger	President	Profile
Rodney Atamian	Exec Strategy	Profile

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