AutoNation Correlations

AN Stock

USD 186.64 1.23 0.65%

The current 90-days correlation between AutoNation and Sonic Automotive is 0.71 (i.e., Poor 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 0.26 (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.

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 board of governors.

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

Moving together with AutoNation Stock

0.78	RH	RH	Pair Corr
0.76	AAP	Advance Auto Parts	Pair Corr
0.65	AZO	AutoZone	Pair Corr
0.78	BKE	Buckle Inc	Pair Corr
0.82	DDS	Dillards	Pair Corr
0.63	DKS	Dicks Sporting Goods	Pair Corr
0.68	ELA	Envela Corp	Pair Corr
0.72	GAP	Gap, Symbol Change	Pair Corr

Moving against AutoNation Stock

0.63	DIBS	1StdibsCom	Pair Corr
0.63	BBY	Best Buy	Pair Corr
0.61	EVGO	Evgo Inc	Pair Corr
0.61	AKA	AKA Brands Holding	Pair Corr
0.53	LE	Lands End	Pair Corr
0.5	FL	Foot Locker	Pair Corr
0.46	AEO	American Eagle Outfitters	Pair Corr
0.43	DLTH	Duluth Holdings	Pair Corr
0.35	YJ	Yunji Inc	Pair Corr
0.83	BGI	Birks Group Buyout Trend	Pair Corr
0.77	KSS	Kohls Corp	Pair Corr
0.69	GORV	Lazydays Holdings	Pair Corr
0.62	ODP	ODP Corp	Pair Corr
0.53	SIG	Signet Jewelers	Pair Corr

Related Correlations Analysis

	SAH	LAD	ABG	PAG	GPI
SAH		0.63	0.79	0.8	0.93	SAH
LAD	0.63		0.83	0.78	0.56	LAD
ABG	0.79	0.83		0.85	0.69	ABG
PAG	0.8	0.78	0.85		0.62	PAG
GPI	0.93	0.56	0.69	0.62		GPI
	SAH	LAD	ABG	PAG	GPI

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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
SAH	1.60	0.43	0.27	0.83	1.12	(2.03)	4.59	(2.54)	13.72
LAD	1.34	0.24	0.11	(10.25)	1.23	(1.51)	3.06	(2.43)	13.82
ABG	1.42	0.23	0.11	0.74	1.24	(1.53)	3.85	(2.34)	10.57
PAG	1.05	0.10	0.06	0.28	0.97	(1.19)	2.22	(1.49)	7.57
GPI	1.28	0.42	0.25	1.19	1.05	(1.40)	2.86	(1.69)	11.29

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