Grocery Outlet Correlations
| GO Stock | USD 26.97 0.50 1.89% |
The correlation of Grocery Outlet 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Grocery Outlet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Grocery Outlet Holding 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.
Weak diversification
The correlation between Grocery Outlet Holding and NYA is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grocery Outlet Holding and NYA in the same portfolio, assuming nothing else is changed.
Grocery |
The ability to find closely correlated positions to Grocery Outlet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grocery Outlet 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 Grocery Outlet - 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 Grocery Outlet Holding to buy it.
Moving together with Grocery Stock
| 0.77 | BJ | BJs Wholesale Club Financial Report 28th of May 2024 | PairCorr |
| 0.7 | DG | Dollar General Financial Report 6th of June 2024 | PairCorr |
| 0.75 | TGT | Target Financial Report 15th of May 2024 | PairCorr |
| 0.66 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
| 0.81 | CASY | Caseys General Stores Financial Report 4th of June 2024 | PairCorr |
| 0.71 | BG | Bunge Limited Financial Report 1st of May 2024 | PairCorr |
| 0.63 | CL | Colgate Palmolive Earnings Call This Week | PairCorr |
| 0.77 | KR | Kroger Company Financial Report 20th of June 2024 | PairCorr |
| 0.8 | MO | Altria Group Earnings Call This Week | PairCorr |
Moving against Grocery Stock
Related Correlations Analysis
| 0.78 | 0.47 | 0.63 | 0.75 | 0.0 | 0.6 | AQUI | ||
| 0.78 | 0.76 | 0.79 | 0.95 | 0.0 | 0.83 | MSTSX | ||
| 0.47 | 0.76 | 0.62 | 0.81 | 0.0 | 0.62 | LBHIX | ||
| 0.63 | 0.79 | 0.62 | 0.86 | 0.0 | 0.69 | VIASP | ||
| 0.75 | 0.95 | 0.81 | 0.86 | 0.0 | 0.83 | RRTLX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | OSHDF | ||
| 0.6 | 0.83 | 0.62 | 0.69 | 0.83 | 0.0 | 70082LAB3 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Grocery Stock performing well and Grocery Outlet 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 Grocery Outlet'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AQUI | 1.32 | 0.63 | 0.00 | 0.95 | 0.00 | 0.00 | 25.00 | |||
| MSTSX | 0.46 | (0.02) | (0.04) | 0.04 | 0.64 | 0.98 | 3.20 | |||
| LBHIX | 0.19 | (0.03) | 0.00 | (0.39) | 0.00 | 0.48 | 1.21 | |||
| VIASP | 1.53 | 0.09 | 0.03 | 0.17 | 2.28 | 3.60 | 13.41 | |||
| RRTLX | 0.26 | 0.01 | (0.13) | 0.21 | 0.31 | 0.51 | 1.46 | |||
| OSHDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 70082LAB3 | 1.00 | (0.16) | 0.00 | (9.12) | 0.00 | 1.52 | 17.21 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Grocery Outlet without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Grocery Outlet Corporate Management
Elected by the shareholders, the Grocery Outlet's board of directors comprises two types of representatives: Grocery Outlet inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Grocery. The board's role is to monitor Grocery Outlet's management team and ensure that shareholders' interests are well served. Grocery Outlet's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Grocery Outlet's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Arvind Bhatia | Vice Relations | Profile | |
| Arvind CFA | Vice Relations | Profile | |
| Pamela Burke | Chief VP | Profile | |
| Harrison Lewis | Senior Officer | Profile | |
| Andrea Bortner | Executive Officer | Profile | |
| Alejandro Correa | Senior Officer | Profile |
Already Invested in Grocery Outlet Holding?
The danger of trading Grocery Outlet Holding 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 Grocery Outlet 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 Grocery Outlet. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Grocery Outlet Holding 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.
When determining whether Grocery Outlet Holding offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Grocery Outlet's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Grocery Outlet Holding Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Grocery Outlet Holding Stock: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Grocery Outlet Holding. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Complementary Tools for Grocery Stock analysis
When running Grocery Outlet's price analysis, check to measure Grocery Outlet'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 Grocery Outlet is operating at the current time. Most of Grocery Outlet's value examination focuses on studying past and present price action to predict the probability of Grocery Outlet's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Grocery Outlet's price. Additionally, you may evaluate how the addition of Grocery Outlet to your portfolios can decrease your overall portfolio volatility.
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Is Grocery Outlet'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 Grocery Outlet. If investors know Grocery 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 Grocery Outlet 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 (0.12) | Earnings Share 0.79 | Revenue Per Share 40.214 | Quarterly Revenue Growth 0.063 | Return On Assets 0.0274 |
The market value of Grocery Outlet Holding is measured differently than its book value, which is the value of Grocery that is recorded on the company's balance sheet. Investors also form their own opinion of Grocery Outlet's value that differs from its market value or its book value, called intrinsic value, which is Grocery Outlet'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 Grocery Outlet's market value can be influenced by many factors that don't directly affect Grocery Outlet'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 Grocery Outlet's value and its price as these two are different measures arrived at by different means. Investors typically determine if Grocery Outlet is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Grocery Outlet'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.