AutoNation Correlations

AN Stock

USD 206.48 2.81 1.34%

The current 90-days correlation between AutoNation and Lithia Motors is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AutoNation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AutoNation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AutoNation Correlation With Market

Modest diversification

The correlation between AutoNation and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AutoNation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AutoNation Stock

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

To learn how to invest in AutoNation Stock, please use our How to Invest in AutoNation guide.

Moving together with AutoNation Stock

0.76	ABG	Asbury Automotive	Pair Corr
0.82	GPI	Group 1 Automotive	Pair Corr
0.62	KMX	CarMax Inc	Pair Corr
0.87	PAG	Penske Automotive	Pair Corr
0.74	SAH	Sonic Automotive	Pair Corr

Moving against AutoNation Stock

0.7	MTO	Motorcycle Holdings	Pair Corr
0.41	KXIN	Kaixin Auto Holdings	Pair Corr
0.4	VTU	Vertu Motors Plc	Pair Corr
0.69	000753	Fujian Zhangzhou Dev	Pair Corr
0.59	600386	Beijing Bashi Media	Pair Corr
0.57	PKX	POSCO Holdings	Pair Corr
0.56	ASG	Autosports Group	Pair Corr
0.44	EC	Ecopetrol SA ADR	Pair Corr
0.4	PTAIY	Astra International Tbk	Pair Corr
0.33	301215	CATARC Automotive Proving	Pair Corr

Related Correlations Analysis

	LAD	LKQ	KMX	GPI	PAG	VFS	ABG	ALSN	LEVI	MUSA
LAD		0.23	0.3	0.23	0.53	-0.06	0.52	0.9	0.21	0.84	LAD
LKQ	0.23		0.17	0.04	0.1	-0.03	0.18	0.11	0.03	0.04	LKQ
KMX	0.3	0.17		0.82	0.77	-0.61	0.86	-0.04	0.51	0.3	KMX
GPI	0.23	0.04	0.82		0.89	-0.48	0.84	-0.03	0.55	0.25	GPI
PAG	0.53	0.1	0.77	0.89		-0.35	0.87	0.33	0.66	0.55	PAG
VFS	-0.06	-0.03	-0.61	-0.48	-0.35		-0.45	0.2	-0.16	0.05	VFS
ABG	0.52	0.18	0.86	0.84	0.87	-0.45		0.27	0.52	0.44	ABG
ALSN	0.9	0.11	-0.04	-0.03	0.33	0.2	0.27		0.14	0.81	ALSN
LEVI	0.21	0.03	0.51	0.55	0.66	-0.16	0.52	0.14		0.28	LEVI
MUSA	0.84	0.04	0.3	0.25	0.55	0.05	0.44	0.81	0.28		MUSA
	LAD	LKQ	KMX	GPI	PAG	VFS	ABG	ALSN	LEVI	MUSA

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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

ALSN	+ 0.9	LAD
PAG	+ 0.89	GPI
ABG	+ 0.87	PAG
ABG	+ 0.86	KMX
MUSA	+ 0.84	LAD
ABG	+ 0.84	GPI

High negative correlations

VFS	- 0.61	KMX
VFS	- 0.48	GPI
ABG	- 0.45	VFS
VFS	- 0.35	PAG
LEVI	- 0.16	VFS
VFS	- 0.06	LAD

Risk-Adjusted Indicators

There is a big difference between AutoNation Stock performing well and AutoNation 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 AutoNation'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
LAD	1.54	0.01	0.02	0.06	1.62	(1.69)	4.18	(2.97)	9.56
LKQ	1.44	(0.04)	(0.01)	0.03	1.85	(1.38)	2.78	(2.55)	9.17
KMX	2.06	(0.27)	0.00	(0.06)	0.00	0.00	4.79	(4.21)	28.21
GPI	1.34	(0.17)	0.00	(0.15)	0.00	0.00	2.79	(3.08)	10.14
PAG	0.96	(0.12)	0.00	(0.08)	0.00	0.00	2.77	(1.84)	5.64
VFS	1.70	0.05	0.01	0.16	2.36	(1.70)	3.35	(3.83)	15.20
ABG	1.42	(0.09)	(0.04)	(0.01)	1.74	(1.51)	2.87	(3.10)	8.25
ALSN	1.21	0.16	0.12	0.22	1.13	(1.40)	2.74	(2.00)	5.80
LEVI	1.54	(0.21)	0.00	(0.06)	0.00	0.00	3.64	(3.46)	17.30
MUSA	1.31	0.06	0.00	(3.98)	2.08	(1.24)	2.93	(3.83)	11.17

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