CarGurus Correlations

CARG Stock

USD 32.40 0.61 1.85%

The current 90-days correlation between CarGurus and Rush Enterprises A is 0.18 (i.e., Average diversification). The correlation of CarGurus 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.

CarGurus Correlation With Market

Weak diversification

The correlation between CarGurus and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CarGurus and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CarGurus Stock

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

For more detail on how to invest in CarGurus Stock please use our How to Invest in CarGurus guide.

Moving together with CarGurus Stock

0.65

JFU

9F Inc

Pair Corr

Moving against CarGurus Stock

0.57	DHX	DHI Group Earnings Call This Week	Pair Corr
0.47	TC	TuanChe ADR	Pair Corr
0.44	SY	So Young International	Pair Corr
0.41	IPM	Intelligent Protection	Pair Corr
0.36	FENG	Phoenix New Media	Pair Corr
0.33	YQ	17 Education Technology	Pair Corr
0.63	GITS	Global Interactive Trending	Pair Corr
0.47	FDV	Frontier Digital Ventures	Pair Corr
0.32	GETY	Getty Images Holdings	Pair Corr
0.31	GIFT	RDE Inc	Pair Corr
0.67	BBSN	Brave Bison Group	Pair Corr
0.65	MOMO	Hello Group	Pair Corr

Related Correlations Analysis

	RUSHA	KAR	GTX	PATK	HOG	RH	REAL	RRR	PII
RUSHA		0.25	0.67	0.94	-0.79	0.76	0.77	0.74	0.64	RUSHA
KAR	0.25		0.35	0.43	0.11	0.45	-0.12	-0.17	0.03	KAR
GTX	0.67	0.35		0.76	-0.51	0.89	0.59	0.66	0.6	GTX
PATK	0.94	0.43	0.76		-0.74	0.81	0.67	0.69	0.58	PATK
HOG	-0.79	0.11	-0.51	-0.74		-0.52	-0.83	-0.74	-0.32	HOG
RH	0.76	0.45	0.89	0.81	-0.52		0.63	0.63	0.67	RH
REAL	0.77	-0.12	0.59	0.67	-0.83	0.63		0.74	0.45	REAL
RRR	0.74	-0.17	0.66	0.69	-0.74	0.63	0.74		0.6	RRR
PII	0.64	0.03	0.6	0.58	-0.32	0.67	0.45	0.6		PII
	RUSHA	KAR	GTX	PATK	HOG	RH	REAL	RRR	PII

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

PATK	+ 0.94	RUSHA
RH	+ 0.89	GTX
RH	+ 0.81	PATK
REAL	+ 0.77	RUSHA
RH	+ 0.76	RUSHA
PATK	+ 0.76	GTX

High negative correlations

REAL	- 0.83	HOG
HOG	- 0.79	RUSHA
RRR	- 0.74	HOG
HOG	- 0.74	PATK
RH	- 0.52	HOG
HOG	- 0.51	GTX

Risk-Adjusted Indicators

There is a big difference between CarGurus Stock performing well and CarGurus 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 CarGurus' 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
RUSHA	1.33	0.28	0.16	0.39	1.43	(1.46)	3.25	(2.49)	10.82
KAR	1.13	0.14	0.05	(1.30)	1.42	(1.09)	2.59	(2.37)	6.46
GTX	1.30	0.06	0.04	0.11	1.49	(1.47)	2.86	(2.62)	7.19
PATK	1.38	0.30	0.17	0.31	1.50	(1.59)	4.19	(2.62)	8.35
HOG	1.45	(0.59)	0.00	(0.40)	0.00	0.00	2.41	(3.40)	8.88
RH	2.76	0.11	0.06	0.10	2.92	(3.18)	6.59	(4.89)	15.48
REAL	2.78	0.43	0.14	0.55	2.53	(3.14)	4.47	(4.97)	44.37
RRR	1.64	0.06	0.02	0.11	2.64	(1.71)	3.88	(2.69)	13.11
PII	1.65	(0.20)	0.00	(0.06)	0.00	0.00	4.36	(2.78)	10.57

CarGurus Corporate Management

Andrea Eldridge	Chief Officer	Profile
Elisa Palazzo	Principal Officer	Profile
Dafna Sarnoff	Chief Officer	Profile
Javier Zamora	General Secretary	Profile
Brad Rosenfeld	Executive Commercialization	Profile
Kirndeep Singh	VP Relations	Profile

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