Auto Trader Correlations

ATDRF Stock

USD 7.78 0.04 0.52%

The current 90-days correlation between Auto Trader Group and CarsalesCom Ltd ADR is 0.21 (i.e., Modest diversification). The correlation of Auto Trader 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.

Auto Trader Correlation With Market

Excellent diversification

The correlation between Auto Trader Group and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Auto Trader Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Auto Trader could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Auto Trader 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 Auto Trader - 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 Auto Trader Group to buy it.

Moving together with Auto OTC Stock

0.62	NVDA	NVIDIA Aggressive Push	Pair Corr
0.83	MSFT	Microsoft Aggressive Push	Pair Corr
0.65	PBCRY	Bank Central Asia	Pair Corr
0.73	HPQ	HP Inc	Pair Corr

Moving against Auto OTC Stock

0.89	BMYMP	Bristol Myers Squibb Earnings Call This Week	Pair Corr
0.86	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.85	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.77	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.66	TLK	Telkom Indonesia Tbk	Pair Corr
0.6	MCD	McDonalds	Pair Corr
0.36	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.36	AXP	American Express Earnings Call Tomorrow	Pair Corr
0.88	MRK	Merck Company Earnings Call This Week	Pair Corr
0.82	DD	Dupont De Nemours	Pair Corr
0.79	WMT	Walmart Common Stock	Pair Corr
0.73	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.71	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.63	CAT	Caterpillar Earnings Call Today	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.54	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.5	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr
0.42	KO	Coca Cola	Pair Corr
0.34	BA	Boeing	Pair Corr

Related Correlations Analysis

	CSXXY	RTMVF	RTMVY	CEVMF	CEVMY	PSORF	NPSNY	BCEXF	SBSNY	ELMUF
CSXXY		0.81	0.78	-0.6	-0.08	0.53	0.41	-0.71	0.67	0.82	CSXXY
RTMVF	0.81		0.94	-0.64	-0.25	0.49	0.62	-0.78	0.79	0.67	RTMVF
RTMVY	0.78	0.94		-0.53	-0.15	0.47	0.6	-0.69	0.77	0.61	RTMVY
CEVMF	-0.6	-0.64	-0.53		0.18	-0.41	-0.7	0.82	-0.71	-0.56	CEVMF
CEVMY	-0.08	-0.25	-0.15	0.18		-0.16	-0.12	0.14	-0.44	0.08	CEVMY
PSORF	0.53	0.49	0.47	-0.41	-0.16		0.49	-0.47	0.46	0.42	PSORF
NPSNY	0.41	0.62	0.6	-0.7	-0.12	0.49		-0.7	0.58	0.24	NPSNY
BCEXF	-0.71	-0.78	-0.69	0.82	0.14	-0.47	-0.7		-0.69	-0.69	BCEXF
SBSNY	0.67	0.79	0.77	-0.71	-0.44	0.46	0.58	-0.69		0.55	SBSNY
ELMUF	0.82	0.67	0.61	-0.56	0.08	0.42	0.24	-0.69	0.55		ELMUF
	CSXXY	RTMVF	RTMVY	CEVMF	CEVMY	PSORF	NPSNY	BCEXF	SBSNY	ELMUF

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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

RTMVY	+ 0.94	RTMVF
ELMUF	+ 0.82	CSXXY
BCEXF	+ 0.82	CEVMF
RTMVF	+ 0.81	CSXXY
SBSNY	+ 0.79	RTMVF
RTMVY	+ 0.78	CSXXY

High negative correlations

BCEXF	- 0.78	RTMVF
SBSNY	- 0.71	CEVMF
BCEXF	- 0.71	CSXXY
BCEXF	- 0.7	NPSNY
NPSNY	- 0.7	CEVMF
ELMUF	- 0.69	BCEXF

Risk-Adjusted Indicators

There is a big difference between Auto OTC Stock performing well and Auto Trader OTC Stock 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 Auto Trader'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CSXXY	1.27	(0.13)	(0.41)	5.22	(3.47)	13.99
RTMVF	0.73	(0.42)	(1.14)	0.00	(1.41)	11.46
RTMVY	1.20	(0.44)	(0.68)	1.68	(2.44)	13.00
CEVMF	0.16	0.03	(0.34)	0.00	0.00	5.37
CEVMY	0.49	(0.11)	(0.54)	0.21	0.00	13.64
PSORF	0.61	(0.13)	(0.29)	0.00	(1.34)	26.85
NPSNY	1.44	(0.16)	(0.17)	3.21	(3.14)	9.05
BCEXF	0.05	0.01	0.51	0.00	0.00	1.52
SBSNY	4.54	(0.06)	0.35	10.98	(8.71)	36.09
ELMUF	0.22	(0.09)	(0.74)	0.00	0.00	6.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Auto Trader 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.

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