AutoZone Correlations

AZO Stock

USD 3,395 3.61 0.11%

The current 90-days correlation between AutoZone and Marriott International is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AutoZone moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AutoZone moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AutoZone Correlation With Market

Significant diversification

The correlation between AutoZone and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AutoZone and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AutoZone Stock

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

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

Moving together with AutoZone Stock

0.7	EVGO	Evgo Inc	Pair Corr
0.63	ACQ	Autocanada	Pair Corr
0.89	AAP	Advance Auto Parts	Pair Corr
0.73	CWH	Camping World Holdings	Pair Corr
0.65	SAH	Sonic Automotive	Pair Corr
0.82	GORV	Lazydays Holdings	Pair Corr
0.61	APE	Eagers Automotive	Pair Corr
0.7	JZXN	Jiuzi Holdings	Pair Corr
0.82	CFYN	Caffyns PLC	Pair Corr
0.61	ONEW	Onewater Marine	Pair Corr
0.97	ORLY	OReilly Automotive	Pair Corr
0.7	PRTS	CarPartsCom	Pair Corr
0.77	BLNK	Blink Charging	Pair Corr

Moving against AutoZone Stock

0.82	TRA	Turners Automotive	Pair Corr
0.67	VTU	Vertu Motors Plc	Pair Corr
0.59	600327	Wuxi Commercial Mansion	Pair Corr
0.52	LAD	Lithia Motors	Pair Corr
0.49	MNRO	Monro Muffler Brake	Pair Corr
0.77	PTAIY	Astra International Tbk	Pair Corr
0.74	PUTKY	United Tractors Tbk	Pair Corr
0.72	MG	Magna International	Pair Corr
0.62	PKX	POSCO Holdings	Pair Corr
0.56	PHJMF	PT Hanjaya Mandala	Pair Corr
0.54	ARKO	Arko Corp	Pair Corr
0.47	ASG	Autosports Group	Pair Corr
0.47	CVNA	Carvana	Pair Corr
0.44	000753	Fujian Zhangzhou Dev	Pair Corr
0.31	MUSA	Murphy USA	Pair Corr
0.31	EC	Ecopetrol SA ADR	Pair Corr

Related Correlations Analysis

	MAR	RACE	SE	CPNG	RCL	ABNB	GM	JD	HLT
MAR		-0.54	-0.84	-0.93	-0.5	0.32	0.87	-0.84	0.95	MAR
RACE	-0.54		0.77	0.63	0.51	-0.31	-0.63	0.78	-0.58	RACE
SE	-0.84	0.77		0.9	0.65	-0.35	-0.92	0.92	-0.79	SE
CPNG	-0.93	0.63	0.9		0.47	-0.42	-0.89	0.89	-0.9	CPNG
RCL	-0.5	0.51	0.65	0.47		0.3	-0.49	0.71	-0.28	RCL
ABNB	0.32	-0.31	-0.35	-0.42	0.3		0.55	-0.14	0.49	ABNB
GM	0.87	-0.63	-0.92	-0.89	-0.49	0.55		-0.78	0.84	GM
JD	-0.84	0.78	0.92	0.89	0.71	-0.14	-0.78		-0.77	JD
HLT	0.95	-0.58	-0.79	-0.9	-0.28	0.49	0.84	-0.77		HLT
	MAR	RACE	SE	CPNG	RCL	ABNB	GM	JD	HLT

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

HLT	+ 0.95	MAR
JD	+ 0.92	SE
CPNG	+ 0.9	SE
JD	+ 0.89	CPNG
GM	+ 0.87	MAR
HLT	+ 0.84	GM

High negative correlations

CPNG	- 0.93	MAR
GM	- 0.92	SE
HLT	- 0.9	CPNG
GM	- 0.89	CPNG
JD	- 0.84	MAR
SE	- 0.84	MAR

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
MAR	1.22	0.22	0.16	0.30	1.09	(1.35)	3.31	(2.23)	8.24
RACE	1.56	(0.40)	0.00	(0.32)	0.00	0.00	2.23	(2.95)	17.81
SE	2.06	(0.57)	0.00	(0.58)	0.00	0.00	3.52	(4.78)	12.26
CPNG	1.41	(0.46)	0.00	(0.41)	0.00	0.00	1.99	(4.69)	8.55
RCL	1.87	(0.30)	0.00	(0.11)	0.00	0.00	4.50	(4.06)	13.13
ABNB	1.06	0.10	0.07	0.18	1.19	(1.07)	2.77	(1.86)	7.01
GM	1.39	0.40	0.27	0.38	1.04	(1.56)	3.37	(1.97)	18.58
JD	1.31	(0.36)	0.00	(0.23)	0.00	0.00	3.04	(2.89)	9.64
HLT	1.04	0.12	0.08	0.26	0.98	(1.24)	3.03	(2.00)	6.33

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