Auto Trader Correlations

ATDRF Stock

USD 7.96 0.14 1.79%

The current 90-days correlation between Auto Trader Group and CarsalesCom Ltd ADR is 0.2 (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

Very good diversification

The correlation between Auto Trader Group and DJI is -0.44 (i.e., Very good 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

0.65	NVDA	NVIDIA	Pair Corr
0.61	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.61	HPQ	HP Inc	Pair Corr

Moving against Auto OTC Stock

0.76	BMYMP	Bristol Myers Squibb	Pair Corr
0.74	GOOG	Alphabet Class C	Pair Corr
0.71	PPERF	Bank Mandiri Persero	Pair Corr
0.65	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.52	PTAIY	Astra International Tbk	Pair Corr
0.46	TLK	Telkom Indonesia Tbk	Pair Corr
0.45	PPERY	Bank Mandiri Persero	Pair Corr
0.35	TSM	Taiwan Semiconductor	Pair Corr
0.31	EC	Ecopetrol SA ADR	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.75	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.72	MRK	Merck Company Earnings Call Next Week	Pair Corr
0.58	PFE	Pfizer Inc Earnings Call Next Week	Pair Corr
0.41	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.35	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.34	TRV	The Travelers Companies	Pair Corr
0.34	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	CSXXY	RTMVF	RTMVY	CEVMF	CEVMY	PSORF	NPSNY	BCEXF	SBSNY	ELMUF
CSXXY		0.78	0.64	-0.53	-0.15	0.5	0.3	-0.61	0.6	0.0	CSXXY
RTMVF	0.78		0.83	-0.58	-0.38	0.43	0.54	-0.69	0.77	0.0	RTMVF
RTMVY	0.64	0.83		-0.5	-0.26	0.33	0.42	-0.64	0.69	0.0	RTMVY
CEVMF	-0.53	-0.58	-0.5		0.21	-0.31	-0.63	0.8	-0.76	0.0	CEVMF
CEVMY	-0.15	-0.38	-0.26	0.21		-0.25	-0.2	0.18	-0.53	0.0	CEVMY
PSORF	0.5	0.43	0.33	-0.31	-0.25		0.5	-0.34	0.45	0.0	PSORF
NPSNY	0.3	0.54	0.42	-0.63	-0.2	0.5		-0.62	0.55	0.0	NPSNY
BCEXF	-0.61	-0.69	-0.64	0.8	0.18	-0.34	-0.62		-0.68	0.0	BCEXF
SBSNY	0.6	0.77	0.69	-0.76	-0.53	0.45	0.55	-0.68		0.0	SBSNY
ELMUF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		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	+ 0.83	RTMVF
BCEXF	+ 0.8	CEVMF
RTMVF	+ 0.78	CSXXY
SBSNY	+ 0.77	RTMVF
SBSNY	+ 0.69	RTMVY
RTMVY	+ 0.64	CSXXY

High negative correlations

SBSNY	- 0.76	CEVMF
BCEXF	- 0.69	RTMVF
SBSNY	- 0.68	BCEXF
BCEXF	- 0.64	RTMVY
NPSNY	- 0.63	CEVMF
BCEXF	- 0.62	NPSNY

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	1.17	(0.22)	1.35	2.45	(3.47)	13.99
RTMVF	0.79	(0.40)	0.99	0.00	(1.41)	11.46
RTMVY	1.21	(0.46)	(1.71)	1.57	(2.44)	12.53
CEVMF	0.17	0.04	(0.21)	0.00	0.00	5.37
CEVMY	0.50	(0.12)	(0.29)	0.21	0.00	13.64
PSORF	0.66	(0.11)	0.49	0.00	(1.34)	26.85
NPSNY	1.39	(0.27)	(0.34)	2.76	(3.14)	8.94
BCEXF	0.05	0.01	0.46	0.00	0.00	1.52
SBSNY	4.40	(0.09)	0.62	9.76	(8.69)	36.09
ELMUF	0.00	0.00	0.00	0.00	0.00	0.00

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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