Spectrum Brands Correlations

SPB Stock

USD 55.01 0.00 0.00%

The current 90-days correlation between Spectrum Brands Holdings and Boston Beer is 0.51 (i.e., Very weak diversification). The correlation of Spectrum Brands 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.

Spectrum Brands Correlation With Market

Poor diversification

The correlation between Spectrum Brands Holdings and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectrum Brands Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spectrum Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Spectrum Brands 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 american community survey.

Moving together with Spectrum Stock

0.76	WALDW	Waldencast Acquisition	Pair Corr
0.9	CLX	Clorox	Pair Corr
0.85	EPC	Edgewell Personal Care	Pair Corr
0.7	KVUE	Kenvue Inc	Pair Corr
0.69	SHOT	Safety Shot	Pair Corr
0.67	BRBR	Bellring Brands LLC	Pair Corr

Moving against Spectrum Stock

0.76	ELF	ELF Beauty	Pair Corr
0.75	YSG	Yatsen Holding	Pair Corr
0.64	EWCZ	European Wax Center	Pair Corr
0.61	IPAR	Inter Parfums	Pair Corr
0.54	EL	Estee Lauder Companies	Pair Corr
0.53	VERU	Veru Inc	Pair Corr
0.49	NUS	Nu Skin Enterprises	Pair Corr
0.31	HLF	Herbalife Nutrition	Pair Corr
0.83	DG	Dollar General	Pair Corr
0.7	PM	Philip Morris Intern	Pair Corr
0.7	DLTR	Dollar Tree	Pair Corr
0.53	TR	Tootsie Roll Industries	Pair Corr
0.51	MO	Altria Group	Pair Corr
0.5	NATR	Natures Sunshine Products	Pair Corr
0.44	SKIN	Beauty Health	Pair Corr
0.42	SLSN	Solesence, Common Stock Downward Rally	Pair Corr
0.36	EDBL	Edible Garden AG	Pair Corr
0.33	BG	Bunge Limited	Pair Corr

Related Correlations Analysis

	SAM	STZ	WVVIP	OTLY	PEP	UVV	COCO	DEO
SAM		0.91	0.71	-0.8	0.37	-0.44	-0.48	0.78	SAM
STZ	0.91		0.57	-0.7	0.17	-0.31	-0.18	0.91	STZ
WVVIP	0.71	0.57		-0.77	0.69	-0.73	-0.72	0.34	WVVIP
OTLY	-0.8	-0.7	-0.77		-0.57	0.72	0.65	-0.48	OTLY
PEP	0.37	0.17	0.69	-0.57		-0.74	-0.75	-0.14	PEP
UVV	-0.44	-0.31	-0.73	0.72	-0.74		0.66	-0.03	UVV
COCO	-0.48	-0.18	-0.72	0.65	-0.75	0.66		0.03	COCO
DEO	0.78	0.91	0.34	-0.48	-0.14	-0.03	0.03		DEO
	SAM	STZ	WVVIP	OTLY	PEP	UVV	COCO	DEO

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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

STZ	+ 0.91	SAM
DEO	+ 0.91	STZ
DEO	+ 0.78	SAM
UVV	+ 0.72	OTLY
WVVIP	+ 0.71	SAM
PEP	+ 0.69	WVVIP

High negative correlations

OTLY	- 0.8	SAM
OTLY	- 0.77	WVVIP
COCO	- 0.75	PEP
UVV	- 0.74	PEP
UVV	- 0.73	WVVIP
COCO	- 0.72	WVVIP

Risk-Adjusted Indicators

There is a big difference between Spectrum Stock performing well and Spectrum Brands 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 Spectrum Brands' 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
SAM	1.54	(0.30)	0.00	(0.52)	0.00	0.00	3.16	(3.57)	9.80
STZ	1.20	(0.15)	0.00	(0.13)	0.00	0.00	2.30	(2.90)	11.14
WVVIP	1.78	(0.15)	0.00	(5.03)	0.00	0.00	3.47	(4.03)	12.04
OTLY	2.79	0.39	0.09	0.84	3.06	(2.90)	7.53	(4.51)	18.70
PEP	1.09	(0.18)	0.00	(0.32)	0.00	0.00	2.20	(2.33)	8.66
UVV	1.25	0.07	0.00	0.33	1.32	(1.49)	2.13	(2.29)	14.73
COCO	1.98	0.25	0.09	0.38	2.54	(2.21)	3.66	(3.06)	17.01
DEO	1.19	(0.05)	(0.06)	0.01	1.58	(1.33)	2.43	(2.70)	10.84

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