Asbury Automotive Correlations

ABG Stock

USD 275.54 1.39 0.51%

The current 90-days correlation between Asbury Automotive and Sonic Automotive is 0.66 (i.e., Poor diversification). The correlation of Asbury Automotive 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.

Asbury Automotive Correlation With Market

Very weak diversification

The correlation between Asbury Automotive Group and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asbury Automotive Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Asbury Stock

0.78	DIBS	1StdibsCom	Pair Corr
0.85	AN	AutoNation	Pair Corr
0.77	JD	JD Inc Adr Earnings Call This Week	Pair Corr
0.84	VIPS	Vipshop Holdings Earnings Call Tomorrow	Pair Corr
0.63	EYE	National Vision Holdings	Pair Corr
0.85	GPI	Group 1 Automotive	Pair Corr

Moving against Asbury Stock

0.6	VSCO	Victorias Secret	Pair Corr
0.54	FL	Foot Locker Earnings Call This Week	Pair Corr
0.48	LE	Lands End Upward Rally	Pair Corr
0.37	M	Macys Inc Earnings Call Tomorrow	Pair Corr
0.78	ANF	Abercrombie Fitch Earnings Call This Week	Pair Corr
0.59	WOOF	Pet Acquisition LLC	Pair Corr
0.49	BGI	Birks Group	Pair Corr
0.46	CAL	Continental	Pair Corr
0.43	DBI	Designer Brands	Pair Corr
0.43	GES	Guess Inc	Pair Corr
0.42	EVGO	Evgo Inc Earnings Call This Week	Pair Corr
0.37	WINA	Winmark	Pair Corr
0.73	GME	GameStop Corp	Pair Corr
0.61	LVLU	Lulus Fashion Lounge	Pair Corr
0.48	ZUMZ	Zumiez Inc	Pair Corr
0.44	JFBR	Jeffs Brands	Pair Corr
0.38	JILL	JJill Inc	Pair Corr
0.37	KIRK	Kirklands	Pair Corr

Related Correlations Analysis

	SAH	LAD	AN	PAG	GPI
SAH		0.33	0.96	0.74	0.91	SAH
LAD	0.33		0.21	0.63	0.13	LAD
AN	0.96	0.21		0.65	0.96	AN
PAG	0.74	0.63	0.65		0.62	PAG
GPI	0.91	0.13	0.96	0.62		GPI
	SAH	LAD	AN	PAG	GPI

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Risk-Adjusted Indicators

There is a big difference between Asbury Stock performing well and Asbury Automotive 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 Asbury Automotive'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
SAH	1.40	0.13	0.07	0.09	1.68	(1.53)	2.86	(2.68)	10.49
LAD	1.25	(0.09)	0.00	(0.09)	0.00	0.00	3.06	(2.68)	7.54
AN	1.11	0.16	0.11	0.12	1.27	(1.20)	2.67	(1.82)	8.25
PAG	1.17	0.03	0.02	7.84	1.19	(1.36)	2.34	(1.69)	8.52
GPI	1.09	0.14	0.09	0.12	1.23	(1.07)	2.78	(2.04)	6.74

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