TrueCar Correlations

TRUE Stock

USD 2.54 0.00 0.00%

The current 90-days correlation between TrueCar and Trivago NV is -0.05 (i.e., Good diversification). The correlation of TrueCar 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.

TrueCar Correlation With Market

Excellent diversification

The correlation between TrueCar and DJI is -0.69 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueCar and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TrueCar Stock

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with TrueCar Stock

0.79	TC	TuanChe ADR	Pair Corr
0.65	YQ	17 Education Technology	Pair Corr
0.76	1PX	PHOENIX NEW MEDADR	Pair Corr
0.72	AD1	Adneo	Pair Corr
0.67	FENG	Phoenix New Media	Pair Corr
0.74	FDV	Frontier Digital Ventures	Pair Corr
0.61	SLE	Super League Enterprise	Pair Corr

Moving against TrueCar Stock

0.73	LOCAL	Solocal Group SA	Pair Corr
0.59	BILD	Builddirect Tehcnologies	Pair Corr
0.5	EB	Eventbrite Class A Earnings Call This Week	Pair Corr
0.43	WB	Weibo Corp	Pair Corr
0.41	0YYA	JOYY INCSPADR20 CLA	Pair Corr
0.41	IAC	IAC Inc	Pair Corr
0.32	ABEA	Alphabet Class A	Pair Corr
0.7	B1CB	Baidu Inc Earnings Call This Week	Pair Corr
0.68	B1C	Baidu Inc Earnings Call This Week	Pair Corr
0.43	4LRA	IAC INC DL	Pair Corr
0.4	GOOG	Alphabet Class C	Pair Corr

Related Correlations Analysis

	TRVG	AREN	WIMI	ATNI	STRZ	EVC	SSP	IAC	IZEA	RDCM
TRVG		0.06	0.09	0.03	-0.08	-0.51	0.36	-0.25	0.21	0.06	TRVG
AREN	0.06		0.9	-0.51	0.75	0.21	0.41	0.65	0.45	0.76	AREN
WIMI	0.09	0.9		-0.52	0.76	0.08	0.53	0.54	0.53	0.79	WIMI
ATNI	0.03	-0.51	-0.52		-0.46	0.0	-0.52	0.04	-0.87	-0.3	ATNI
STRZ	-0.08	0.75	0.76	-0.46		0.22	0.53	0.65	0.51	0.81	STRZ
EVC	-0.51	0.21	0.08	0.0	0.22		-0.18	0.63	-0.21	0.21	EVC
SSP	0.36	0.41	0.53	-0.52	0.53	-0.18		-0.06	0.77	0.45	SSP
IAC	-0.25	0.65	0.54	0.04	0.65	0.63	-0.06		-0.16	0.66	IAC
IZEA	0.21	0.45	0.53	-0.87	0.51	-0.21	0.77	-0.16		0.34	IZEA
RDCM	0.06	0.76	0.79	-0.3	0.81	0.21	0.45	0.66	0.34		RDCM
	TRVG	AREN	WIMI	ATNI	STRZ	EVC	SSP	IAC	IZEA	RDCM

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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

WIMI	+ 0.9	AREN
RDCM	+ 0.81	STRZ
RDCM	+ 0.79	WIMI
IZEA	+ 0.77	SSP
RDCM	+ 0.76	AREN
STRZ	+ 0.76	WIMI

High negative correlations

IZEA	- 0.87	ATNI
SSP	- 0.52	ATNI
ATNI	- 0.52	WIMI
ATNI	- 0.51	AREN
EVC	- 0.51	TRVG
STRZ	- 0.46	ATNI

Risk-Adjusted Indicators

There is a big difference between TrueCar Stock performing well and TrueCar 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 TrueCar'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
TRVG	1.68	0.02	0.00	0.09	2.21	(1.96)	4.66	(4.92)	11.43
AREN	3.01	(0.23)	0.00	(0.07)	0.00	0.00	5.26	(6.36)	21.24
WIMI	3.70	(0.83)	0.00	(0.24)	0.00	0.00	5.75	(7.77)	27.96
ATNI	1.97	0.54	0.24	1.73	1.77	(2.48)	4.76	(3.13)	14.46
STRZ	2.59	(0.32)	0.00	(0.23)	0.00	0.00	5.82	(5.43)	16.38
EVC	1.73	0.17	0.07	0.40	1.78	(2.14)	4.49	(3.01)	14.75
SSP	3.48	0.47	0.09	(1.30)	3.56	(4.40)	6.35	(4.68)	53.49
IAC	1.40	0.11	0.07	0.17	1.46	(1.52)	2.49	(2.41)	6.76
IZEA	2.16	(0.71)	0.00	(0.55)	0.00	0.00	5.69	(4.19)	10.79
RDCM	1.56	(0.17)	0.00	(0.16)	0.00	0.00	4.05	(3.28)	15.19

TrueCar 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 TrueCar stock to make a market-neutral strategy. Peer analysis of TrueCar could also be used in its relative valuation, which is a method of valuing TrueCar by comparing valuation metrics with similar companies.

Trivago NV Arena Group Holdings WiMi Hologram Cloud ATN International Starz Entertainment LLC Entravision Communications E W Scripps IAC Inc IZEA Inc Radcom American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

TrueCar Corporate Management

Jay Nieman	Head Sales	Profile
Paul Edmonds	VP Operations	Profile
Elias Rokos	Chief Officer	Profile
Shadee Malekafzali	Director PR	Profile
Jill Angel	Chief Operations	Profile
Oliver Foley	Chief Officer	Profile

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