Asbury Automotive Correlations

ABG Stock

USD 244.78 0.58 0.24%

The current 90-days correlation between Asbury Automotive and Sonic Automotive is 0.75 (i.e., Poor diversification). The correlation of Asbury Automotive 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.

Asbury Automotive Correlation With Market

Modest diversification

The correlation between Asbury Automotive Group and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asbury Automotive Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Asbury Automotive Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Asbury Stock

0.61	AN	AutoNation	Pair Corr
0.7	LB	LandBridge Company	Pair Corr
0.61	VSCO	Victorias Secret	Pair Corr
0.9	WINA	Winmark	Pair Corr
0.65	BKE	Buckle Inc	Pair Corr

Moving against Asbury Stock

0.56	YJ	Yunji Inc	Pair Corr
0.47	JD	JD Inc Adr Buyout Trend	Pair Corr
0.45	JL	J Long Group	Pair Corr
0.39	DIBS	1StdibsCom	Pair Corr
0.39	VIPS	Vipshop Holdings	Pair Corr
0.38	EVGO	Evgo Inc Downward Rally	Pair Corr
0.49	BGI	Birks Group	Pair Corr
0.47	ASO	Academy Sports Outdoors	Pair Corr
0.39	FNKO	Funko Inc	Pair Corr
0.35	BBY	Best Buy	Pair Corr
0.34	AKA	AKA Brands Holding	Pair Corr
0.32	AEO	American Eagle Outfitters	Pair Corr
0.31	DBI	Designer Brands	Pair Corr

Related Correlations Analysis

	SAH	LAD	AN	PAG	GPI
SAH		0.9	0.79	0.76	0.94	SAH
LAD	0.9		0.54	0.78	0.8	LAD
AN	0.79	0.54		0.68	0.81	AN
PAG	0.76	0.78	0.68		0.6	PAG
GPI	0.94	0.8	0.81	0.6		GPI
	SAH	LAD	AN	PAG	GPI

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Risk-Adjusted Indicators

There is a big difference between Asbury Stock performing well and Asbury Automotive 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 Asbury Automotive'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
SAH	1.56	0.36	0.24	0.62	1.18	(1.98)	4.59	(2.62)	13.72
LAD	1.35	0.25	0.17	0.46	1.22	(1.54)	3.06	(2.43)	13.82
AN	1.21	0.16	0.10	0.34	1.37	(1.29)	2.67	(2.31)	7.41
PAG	1.02	0.06	0.05	0.12	1.12	(1.15)	2.22	(1.70)	7.57
GPI	1.34	0.35	0.22	0.80	1.18	(1.47)	2.86	(2.48)	11.29

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