AutoZone Correlations
| AZ5 Stock | EUR 2,783 18.00 0.64% |
The current 90-days correlation between AutoZone and SBA Communications Corp is -0.01 (i.e., Good diversification). The correlation of AutoZone 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.
AutoZone |
The ability to find closely correlated positions to AutoZone could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AutoZone 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 AutoZone - 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 AutoZone to buy it.
Moving together with AutoZone Stock
Moving against AutoZone Stock
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| 0.65 | FNL | Fresnillo plc | PairCorr |
| 0.64 | EJR | East Japan Railway | PairCorr |
| 0.59 | DUT | Moodys | PairCorr |
| 0.58 | 34U | Ulta Beauty | PairCorr |
| 0.55 | XYD | MINCO SILVER | PairCorr |
| 0.5 | APC | Apple Inc | PairCorr |
| 0.49 | APC | Apple Inc | PairCorr |
| 0.48 | APC | Apple Inc | PairCorr |
| 0.47 | APC | Apple Inc | PairCorr |
| 0.47 | APC | Apple Inc | PairCorr |
| 0.47 | APC | Apple Inc | PairCorr |
| 0.86 | KGHA | KGHM Polska Miedz | PairCorr |
| 0.83 | STD | STANDARD CHARTERED | PairCorr |
| 0.82 | FLI | Flight Centre Travel | PairCorr |
| 0.82 | GOS | Goldman Sachs | PairCorr |
| 0.77 | ZYE1 | Addiko Bank AG | PairCorr |
| 0.77 | SNIA | SCHNEIDER NATLINC CLB | PairCorr |
| 0.75 | FDO | Macys Inc | PairCorr |
| 0.74 | FCQ | FTI CONSULTING | PairCorr |
| 0.72 | 5VB | Vaccibody AS | PairCorr |
| 0.72 | IC1H | InterContinental Hotels | PairCorr |
| 0.69 | KB9 | KBC Ancora SCA | PairCorr |
| 0.68 | CY2 | Canadian National Railway | PairCorr |
| 0.67 | OIX | ORIX | PairCorr |
| 0.63 | CIS | Cisco Systems | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between AutoZone Stock performing well and AutoZone 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 AutoZone'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 4SB | 0.78 | (0.05) | 0.00 | (20.66) | 0.00 | 1.71 | 5.22 | |||
| 3T4 | 1.74 | 0.46 | 0.14 | 1.02 | 1.56 | 4.69 | 19.98 | |||
| LID | 1.50 | 0.43 | 0.21 | 1.82 | 1.43 | 3.13 | 12.37 | |||
| RCIB | 1.08 | 0.14 | 0.03 | (0.51) | 1.16 | 2.58 | 6.32 | |||
| EV9 | 2.70 | 0.35 | 0.14 | 0.39 | 2.31 | 8.06 | 30.72 | |||
| ZZG | 2.22 | 0.01 | (0.01) | 0.11 | 3.02 | 3.56 | 23.44 | |||
| 5ZM | 1.44 | 0.05 | (0.01) | 0.27 | 1.60 | 3.23 | 10.74 | |||
| ISW | 1.39 | 0.32 | 0.13 | (1.14) | 1.43 | 3.30 | 14.59 |
AutoZone Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with AutoZone stock to make a market-neutral strategy. Peer analysis of AutoZone could also be used in its relative valuation, which is a method of valuing AutoZone by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
AutoZone Corporate Management
Elected by the shareholders, the AutoZone's board of directors comprises two types of representatives: AutoZone inside directors who are chosen from within the company, and outside directors, selected externally and held independent of AutoZone. The board's role is to monitor AutoZone's management team and ensure that shareholders' interests are well served. AutoZone's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, AutoZone's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Kristen Wright | Gen VP | Profile | |
| Preston Frazer | Commercial Operations | Profile | |
| William Hackney | VP Satisfaction | Profile | |
| William III | President, Chairman | Profile | |
| Brian Campbell | Treasury Tax | Profile | |
| Richard Smith | VP Satisfaction | Profile | |
| Jamere Jackson | Exec CFO | Profile |