Boot Barn Correlations

BOOT
 Stock
  

USD 68.53  0.38  0.55%   

The correlation of Boot Barn 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 Boot Barn moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Boot Barn Holdings 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 Boot Barn could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boot Barn 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 Boot Barn - 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 Boot Barn Holdings to buy it.

Moving together with Boot Barn

0.87AEOAmerican Eagle OutfittersPairCorr
0.85ANFAbercrombie FitchPairCorr
0.88BBWIBath Body WorksPairCorr
0.77BEBEBebe StoresPairCorr
0.71BIRDAllbirds Inc ClPairCorr
0.85BKEBuckle IncPairCorr
0.9BURLBurlington StoresPairCorr
0.87CATOCato CorpPairCorr
0.9CRICartersPairCorr
0.76CTRNCiti Trends Normal TradingPairCorr
0.88CURVTorrid HoldingsPairCorr
0.69DBGIDigital Brands GroupPairCorr
0.84DLTHDuluth Holdings ClPairCorr
0.88DXLGDestination XL GroupPairCorr

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   
CATOCRI
LULUCRI
LULUBURL
HDDXLG
LULUCATO
BURLCRI
  
High negative correlations   
TLULU
TMSFT
TCRI
TCATO
TDXLG
TBURL

Boot Barn Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Boot Barn stock performing well and Boot Barn 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 Boot Barn'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
CRI 1.86 (0.20)  0.00 (0.36)  0.00 (0.10)  0.00  3.72 (4.56)  10.98 
DXLG 3.43 (0.31)  0.00 (0.39)  0.00 (0.09)  0.00  5.61 (7.78)  22.28 
BURL 2.95 (0.22)  0.00 (0.35)  0.00 (0.08)  0.00  6.58 (5.56)  21.53 
CATO 1.88 (0.20)  0.00 (0.40)  0.00 (0.08)  0.00  2.74 (4.07)  10.95 
CTRN 4.18 (0.24)  0.00 (0.34)  0.00 (0.07)  0.00  8.47 (9.94)  24.40 
LULU 2.76 (0.03)  0.00 (0.21)  0.00 (0.0421)  0.00  5.02 (5.78)  20.37 
MSFT 1.92  0.00  0.00 (0.19)  0.00 (0.0357)  0.00  2.97 (4.24)  9.36 
PFE 1.50  0.14  0.10  0.01  1.94  0.11 (1.43)  3.17 (3.16)  8.45 
HD 1.73  0.05  0.00 (0.15)  0.00  0.0082  0.00  2.92 (3.64)  8.63 
T 1.31  0.40  0.28  0.41  1.37  0.26 (1.50)  2.99 (2.47)  12.17 

Similar Equity Warning - BOOT

Boot Barn Holdings was forked

The entity Boot Barn Holdings with a symbol BOOT was recently forked. You can potentially use LACROSSE FOOTWEAR INC with a symbol BOOT1 from now on.

Boot Barn Corporate Directors

Boot Barn corporate directors refer to members of a Boot Barn board of directors. The board of directors generally takes responsibility for the Boot Barn's 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 Boot Barn's board members must vote for the resolution. The Boot Barn board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Brad Brutocao - Independent DirectorProfile
Christopher Bruzzo - Independent DirectorProfile
Anne MacDonald - Independent DirectorProfile
Brenda Morris - Independent DirectorProfile

Investing Boot Barn Holdings

You need to understand the risk of investing before taking a position in Boot Barn. The danger of trading Boot Barn Holdings 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 Boot Barn 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 Boot Barn. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Boot Barn Holdings 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.
Continue to Trending Equities. Note that the Boot Barn Holdings information on this page should be used as a complementary analysis to other Boot Barn'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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.

Complementary Tools for Boot Barn Stock analysis

When running Boot Barn Holdings price analysis, check to measure Boot Barn'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 Boot Barn is operating at the current time. Most of Boot Barn's value examination focuses on studying past and present price action to predict the probability of Boot Barn's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Boot Barn's price. Additionally, you may evaluate how the addition of Boot Barn to your portfolios can decrease your overall portfolio volatility.
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Is Boot Barn's 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 Boot Barn. If investors know Boot Barn 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 Boot Barn 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 YOY
0.81
Market Capitalization
B
Quarterly Revenue Growth YOY
0.48
Return On Assets
0.15
Return On Equity
0.39
The market value of Boot Barn Holdings is measured differently than its book value, which is the value of Boot Barn that is recorded on the company's balance sheet. Investors also form their own opinion of Boot Barn's value that differs from its market value or its book value, called intrinsic value, which is Boot Barn's 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 Boot Barn's market value can be influenced by many factors that don't directly affect Boot Barn's 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 Boot Barn's value and its price as these two are different measures arrived at by different means. Investors typically determine Boot Barn value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Boot Barn's 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.