BLAIR CORP Correlations

The correlation of BLAIR CORP is a statistical measure of how it moves in relation to other equities. 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 BLAIR CORP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BLAIR CORP 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.
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The ability to find closely correlated positions to BLAIR CORP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BLAIR CORP 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 BLAIR CORP - 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 BLAIR CORP to buy it.

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
BAAMZN
MSFTAMZN
AXPAMZN
BACHWY
AXPMSFT
BAMSFT
  
High negative correlations   
IBMAMZN
AXPIBM
IBMBA
IBMMSFT
KOBABA
IBMCHWY

BLAIR CORP Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between BLAIR CORP stock performing well and BLAIR CORP company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze BLAIR CORP's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
AMZN 2.79 (0.22)  0.00 (0.30)  0.00 (0.12)  0.00  4.39 (5.60)  18.71 
BABA 3.61  0.40  0.07  0.06  3.91  0.06 (4.51)  6.81 (6.67)  25.09 
CHWY 5.12  0.33  0.00 (0.08)  0.00 (0.0103)  0.00  10.98 (10.86)  31.83 
MREO 8.14  1.06  0.10  0.52  9.00  0.08 (11.11)  15.94 (17.04)  79.54 
MSFT 1.92  0.00  0.00 (0.19)  0.00 (0.0357)  0.00  2.97 (4.24)  9.36 
BA 2.59 (0.12)  0.00 (0.27)  0.00 (0.07)  0.00  5.64 (5.07)  16.31 
IBM 1.21  0.27  0.20  0.16  1.41  0.19 (1.27)  2.47 (2.47)  11.05 
KO 1.05  0.21  0.14  0.09  1.75  0.17 (1.01)  2.14 (2.01)  10.05 
AXP 1.90 (0.17)  0.00 (0.32)  0.00 (0.10)  0.00  3.46 (3.99)  9.74 
PFE 1.50  0.14  0.10  0.01  1.94  0.11 (1.43)  3.17 (3.16)  8.45 

View Currently Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BLAIR CORP stock to make a market-neutral strategy. Peer analysis of BLAIR CORP could also be used in its relative valuation, which is a method of valuing BLAIR CORP by comparing valuation metrics with similar companies.

Investing BLAIR CORP

You need to understand the risk of investing before taking a position in BLAIR CORP. The danger of trading BLAIR CORP 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 BLAIR CORP 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 BLAIR CORP. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BLAIR CORP 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.
Check out Trending Equities. Note that the BLAIR CORP information on this page should be used as a complementary analysis to other BLAIR CORP's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

Other Tools for BLAIR Stock

When running BLAIR CORP price analysis, check to measure BLAIR CORP's 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 BLAIR CORP is operating at the current time. Most of BLAIR CORP's value examination focuses on studying past and present price action to predict the probability of BLAIR CORP's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move BLAIR CORP's price. Additionally, you may evaluate how the addition of BLAIR CORP to your portfolios can decrease your overall portfolio volatility.
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