Home Depot Correlations

HD Stock

USD 369.28 0.82 0.22%

The current 90-days correlation between Home Depot and Bim Birlesik Magazalar is -0.04 (i.e., Good diversification). The correlation of Home Depot 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.

Home Depot Correlation With Market

Good diversification

The correlation between Home Depot and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Home Depot and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Home Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Home Depot. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Home Stock refer to our How to Trade Home Stock guide.

Moving together with Home Stock

0.84	LOW	Lowes Companies	Pair Corr
0.68	VUZI	Vuzix Corp Cmn	Pair Corr
0.66	LVS	Las Vegas Sands Sell-off Trend	Pair Corr
0.66	BJRI	BJs Restaurants	Pair Corr
0.67	PBCRY	Bank Central Asia	Pair Corr

Moving against Home Stock

0.47	LXEH	Lixiang Education Holding	Pair Corr
0.34	VLCN	Volcon Inc	Pair Corr
0.38	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	FND	LIVE	LBHIX	MSTSX	RRTLX	OSHDF	70082LAB3	SITKF	SEGI	BMBRF
FND		-0.36	0.18	0.22	0.27	0.0	0.46	-0.78	0.36	0.73	FND
LIVE	-0.36		0.61	0.63	0.55	0.0	-0.65	-0.05	-0.18	-0.42	LIVE
LBHIX	0.18	0.61		0.93	0.93	0.0	-0.4	-0.33	-0.12	0.04	LBHIX
MSTSX	0.22	0.63	0.93		0.99	0.0	-0.4	-0.34	-0.08	0.01	MSTSX
RRTLX	0.27	0.55	0.93	0.99		0.0	-0.35	-0.37	-0.1	0.03	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OSHDF
70082LAB3	0.46	-0.65	-0.4	-0.4	-0.35	0.0		-0.24	0.46	0.46	70082LAB3
SITKF	-0.78	-0.05	-0.33	-0.34	-0.37	0.0	-0.24		-0.4	-0.67	SITKF
SEGI	0.36	-0.18	-0.12	-0.08	-0.1	0.0	0.46	-0.4		0.41	SEGI
BMBRF	0.73	-0.42	0.04	0.01	0.03	0.0	0.46	-0.67	0.41		BMBRF
	FND	LIVE	LBHIX	MSTSX	RRTLX	OSHDF	70082LAB3	SITKF	SEGI	BMBRF

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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

RRTLX	+ 0.99	MSTSX
MSTSX	+ 0.93	LBHIX
RRTLX	+ 0.93	LBHIX
BMBRF	+ 0.73	FND
MSTSX	+ 0.63	LIVE
LBHIX	+ 0.61	LIVE

High negative correlations

SITKF	- 0.78	FND
BMBRF	- 0.67	SITKF
70082LAB3	- 0.65	LIVE
BMBRF	- 0.42	LIVE
SEGI	- 0.4	SITKF
70082LAB3	- 0.4	MSTSX

Risk-Adjusted Indicators

There is a big difference between Home Stock performing well and Home Depot 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 Home Depot'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
FND	2.27	(0.23)	0.00	1.09	0.00	0.00	4.27	(4.89)	17.95
LIVE	4.71	1.28	0.25	(2.17)	4.17	(6.03)	12.93	(5.82)	67.83
LBHIX	0.24	0.01	0.02	0.06	0.32	(0.35)	0.72	(0.49)	1.94
MSTSX	0.89	0.07	0.05	(0.65)	1.37	(0.94)	1.87	(1.54)	10.06
RRTLX	0.43	0.02	0.03	(0.55)	0.66	(0.44)	0.82	(0.94)	4.11
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.40	(0.13)	0.00	(1.11)	0.00	0.00	2.55	(4.54)	20.47
SITKF	3.50	0.85	0.14	10.44	3.54	(5.29)	8.33	(6.67)	28.38
SEGI	9.98	1.24	0.06	1.73	10.33	(20.62)	20.00	(25.00)	65.00
BMBRF	0.65	(0.34)	0.00	39.98	0.00	0.00	0.00	0.00	21.77

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