Auto Trader Correlations

2UA Stock

EUR 8.95 0.05 0.56%

The current 90-days correlation between Auto Trader Group and Federal Agricultural Mortgage is 0.11 (i.e., Average diversification). The correlation of Auto Trader 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.

Auto Trader Correlation With Market

Good diversification

The correlation between Auto Trader Group and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Auto Trader Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Auto Trader could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Auto Trader 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 Auto Trader - 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 Auto Trader Group to buy it.

Moving together with Auto Stock

0.75	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr

Moving against Auto Stock

0.43	DBPE	Xtrackers LevDAX	Pair Corr
0.32	4Y7	PLATO GOLD P	Pair Corr

Related Correlations Analysis

	A35	A4A	UAO	AY5	TCW	EK7	US8
A35		-0.07	-0.07	0.13	0.21	-0.04	0.03	A35
A4A	-0.07		-0.63	0.53	0.7	0.48	-0.56	A4A
UAO	-0.07	-0.63		-0.75	-0.88	-0.69	0.67	UAO
AY5	0.13	0.53	-0.75		0.75	0.65	-0.67	AY5
TCW	0.21	0.7	-0.88	0.75		0.76	-0.62	TCW
EK7	-0.04	0.48	-0.69	0.65	0.76		-0.45	EK7
US8	0.03	-0.56	0.67	-0.67	-0.62	-0.45		US8
	A35	A4A	UAO	AY5	TCW	EK7	US8

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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

EK7	+ 0.76	TCW
TCW	+ 0.75	AY5
TCW	+ 0.7	A4A
US8	+ 0.67	UAO
EK7	+ 0.65	AY5
AY5	+ 0.53	A4A

High negative correlations

TCW	- 0.88	UAO
AY5	- 0.75	UAO
EK7	- 0.69	UAO
US8	- 0.67	AY5
UAO	- 0.63	A4A
US8	- 0.62	TCW

Risk-Adjusted Indicators

There is a big difference between Auto Stock performing well and Auto Trader 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 Auto Trader'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
A35	1.14	(0.14)	0.00	(0.43)	0.00	0.00	2.50	(2.75)	11.85
A4A	1.74	0.19	0.13	(0.39)	1.58	(3.25)	5.30	(3.05)	11.96
UAO	3.19	(0.51)	0.00	0.67	0.00	0.00	6.53	(8.11)	33.16
AY5	0.94	0.09	0.10	0.40	0.89	(1.78)	2.35	(1.25)	6.95
TCW	0.87	0.26	0.23	0.69	0.69	(1.40)	1.91	(1.85)	8.06
EK7	1.89	0.73	0.29	4.88	0.98	(4.12)	3.77	(1.92)	34.72
US8	2.34	(0.11)	0.00	0.48	0.00	0.00	5.19	(6.72)	15.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in Auto Trader without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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