TrueCar Correlations

TRUE Stock

USD 2.54 0.00 0.00%

The current 90-days correlation between TrueCar and Trivago NV is -0.1 (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

Good diversification

The correlation between TrueCar and DJI is -0.13 (i.e., Good 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 persons.

Moving against TrueCar Stock

0.69	EVER	EverQuote Class A	Pair Corr
0.57	PPERY	Bank Mandiri Persero Earnings Call This Week	Pair Corr
0.42	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.42	GOOGL	Alphabet Class A Earnings Call This Week	Pair Corr
0.47	SMC	Summit Midstream	Pair Corr
0.42	HNNA	Hennessy Ad Earnings Call This Week	Pair Corr
0.4	KB	KB Financial Group	Pair Corr
0.33	WAL	Western Alliance Ban	Pair Corr
0.32	PTBRY	Bank Negara Indonesia	Pair Corr
0.31	SHG	Shinhan Financial	Pair Corr
0.6	IMBBY	Imperial Brands PLC	Pair Corr
0.37	QYOUF	QYOU Media	Pair Corr

Related Correlations Analysis

	TRVG	AREN	WIMI	ATNI	STRZ	EVC	SSP	IAC	IZEA	RDCM
TRVG		0.74	0.73	-0.65	-0.2	-0.62	-0.46	-0.56	0.64	0.42	TRVG
AREN	0.74		0.86	-0.83	-0.24	-0.7	-0.75	-0.53	0.48	0.51	AREN
WIMI	0.73	0.86		-0.88	-0.11	-0.8	-0.61	-0.66	0.7	0.61	WIMI
ATNI	-0.65	-0.83	-0.88		0.21	0.88	0.74	0.83	-0.67	-0.41	ATNI
STRZ	-0.2	-0.24	-0.11	0.21		0.14	0.4	0.33	0.08	0.38	STRZ
EVC	-0.62	-0.7	-0.8	0.88	0.14		0.58	0.79	-0.66	-0.43	EVC
SSP	-0.46	-0.75	-0.61	0.74	0.4	0.58		0.47	-0.15	-0.19	SSP
IAC	-0.56	-0.53	-0.66	0.83	0.33	0.79	0.47		-0.79	-0.07	IAC
IZEA	0.64	0.48	0.7	-0.67	0.08	-0.66	-0.15	-0.79		0.4	IZEA
RDCM	0.42	0.51	0.61	-0.41	0.38	-0.43	-0.19	-0.07	0.4		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

EVC	+ 0.88	ATNI
WIMI	+ 0.86	AREN
IAC	+ 0.83	ATNI
IAC	+ 0.79	EVC
AREN	+ 0.74	TRVG
SSP	+ 0.74	ATNI

High negative correlations

ATNI	- 0.88	WIMI
ATNI	- 0.83	AREN
EVC	- 0.8	WIMI
IZEA	- 0.79	IAC
SSP	- 0.75	AREN
EVC	- 0.7	AREN

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	1.61	(0.16)	0.00	(0.16)	0.00	0.00	4.23	(4.37)	11.25
AREN	3.39	(0.39)	0.00	(0.16)	0.00	0.00	6.08	(6.65)	27.15
WIMI	3.17	(0.82)	0.00	(0.29)	0.00	0.00	4.84	(6.25)	18.66
ATNI	2.16	0.59	0.28	0.72	1.75	(2.80)	5.16	(3.13)	22.28
STRZ	2.42	(0.17)	0.00	(0.72)	0.00	0.00	5.11	(5.15)	17.68
EVC	2.63	0.71	0.35	0.63	1.49	(3.85)	5.93	(3.35)	48.82
SSP	4.02	0.75	0.16	(1.87)	3.74	(5.25)	7.52	(6.60)	53.49
IAC	1.28	0.13	0.08	0.19	1.49	(1.32)	2.49	(2.35)	6.38
IZEA	2.20	(0.52)	0.00	(0.63)	0.00	0.00	4.58	(4.35)	11.69
RDCM	1.34	(0.20)	0.00	(0.14)	0.00	0.00	4.05	(2.72)	10.91

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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