Driven Brands Correlations

DRVN Etf

USD 14.14 0.01 0.07%

The current 90-days correlation between Driven Brands Holdings and Zillow Group Class is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Driven Brands moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Driven Brands Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Driven Brands Correlation With Market

Modest diversification

The correlation between Driven Brands Holdings and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Driven Brands Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Driven Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Driven Brands Holdings. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Driven Etf

0.91	VIRC	Virco Manufacturing	Pair Corr
0.88	ACU	Acme United	Pair Corr
0.63	CIX	CompX International	Pair Corr
0.71	CXW	CoreCivic	Pair Corr
0.74	EBF	Ennis Inc	Pair Corr
0.8	GEO	Geo Group	Pair Corr
0.73	HNI	HNI Corp	Pair Corr
0.87	KAR	KAR Auction Services	Pair Corr
0.64	MSA	MSA Safety	Pair Corr
0.8	PBI	Pitney Bowes Potential Growth	Pair Corr
0.84	RBA	RB Global	Pair Corr
0.7	SCS	Steelcase Sell-off Trend	Pair Corr
0.76	UNF	Unifirst	Pair Corr
0.67	YIBO	Planet Image Interna	Pair Corr
0.91	TRI	Thomson Reuters Corp	Pair Corr
0.94	MLKN	MillerKnoll	Pair Corr
0.72	ADVWW	Advantage Solutions	Pair Corr
0.85	RBA	Ritchie Bros Auctioneers	Pair Corr
0.65	PMEC	Primech Holdings	Pair Corr
0.8	APOLSINHOT	Apollo Sindoori Hotels	Pair Corr
0.65	AMA	AMA Group Split	Pair Corr
0.7	ACCO	Acco Brands	Pair Corr
0.84	ACVA	ACV Auctions	Pair Corr
0.85	SFHG	Samfine Creation Holdings	Pair Corr

Moving against Driven Etf

0.69	GDI	GDI Integrated	Pair Corr
0.6	HCSG	Healthcare Services	Pair Corr
0.58	603600	UE Furniture	Pair Corr
0.48	301289	Shanghai National Center	Pair Corr
0.38	VSEC	VSE Corporation	Pair Corr
0.62	CMPR	Cimpress NV	Pair Corr
0.5	ITA	iShares Aerospace Defense	Pair Corr
0.44	PPA	Invesco Aerospace Defense	Pair Corr
0.37	FIDU	Fidelity MSCI Industrials	Pair Corr
0.33	BSA	BSA	Pair Corr
0.32	VIS	Vanguard Industrials	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.52	0.54	-0.74	0.7	-0.75	0.43	-0.13	-0.69	-0.67	META
MSFT	0.52		0.73	-0.15	-0.07	-0.17	0.63	0.18	-0.54	-0.27	MSFT
UBER	0.54	0.73		-0.46	0.26	-0.56	0.46	0.3	-0.79	-0.36	UBER
F	-0.74	-0.15	-0.46		-0.74	0.83	-0.13	0.24	0.66	0.72	F
T	0.7	-0.07	0.26	-0.74		-0.88	0.03	-0.11	-0.5	-0.48	T
A	-0.75	-0.17	-0.56	0.83	-0.88		-0.2	0.01	0.77	0.52	A
CRM	0.43	0.63	0.46	-0.13	0.03	-0.2		-0.12	-0.56	-0.36	CRM
JPM	-0.13	0.18	0.3	0.24	-0.11	0.01	-0.12		-0.11	0.28	JPM
MRK	-0.69	-0.54	-0.79	0.66	-0.5	0.77	-0.56	-0.11		0.53	MRK
XOM	-0.67	-0.27	-0.36	0.72	-0.48	0.52	-0.36	0.28	0.53		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.83	F
MRK	+ 0.77	A
UBER	+ 0.73	MSFT
XOM	+ 0.72	F
T	+ 0.7	META
MRK	+ 0.66	F

High negative correlations

A	- 0.88	T
MRK	- 0.79	UBER
A	- 0.75	META
T	- 0.74	F
F	- 0.74	META
MRK	- 0.69	META

Driven Brands Competition Risk-Adjusted Indicators

There is a big difference between Driven Etf performing well and Driven Brands ETF 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 Driven 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
META	1.31	(0.24)	0.00	(0.19)	0.00	0.00	2.18	(2.72)	13.52
MSFT	0.88	(0.10)	0.00	(0.06)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.47	(0.14)	0.00	1.83	0.00	0.00	3.34	(3.30)	10.91
F	1.48	0.10	0.07	0.12	1.65	(1.71)	3.38	(2.35)	16.30
T	0.98	(0.22)	0.00	(0.46)	0.00	0.00	1.84	(2.32)	6.25
A	1.28	0.20	0.15	0.22	1.18	(1.41)	2.60	(2.21)	11.03
CRM	1.63	(0.18)	0.00	(0.11)	0.00	0.00	3.22	(3.61)	9.91
JPM	0.93	(0.02)	(0.01)	0.03	1.31	(0.90)	1.69	(1.91)	5.76
MRK	1.38	0.26	0.18	0.40	1.12	(1.80)	4.84	(2.60)	11.45
XOM	0.94	0.02	(0.02)	0.21	1.21	(0.87)	1.77	(1.93)	4.63

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