ACV Auctions Correlations

ACVA Stock

USD 15.69 1.08 7.39%

The current 90-days correlation between ACV Auctions and CarGurus is 0.52 (i.e., Very weak diversification). The correlation of ACV Auctions 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.

ACV Auctions Correlation With Market

Very weak diversification

The correlation between ACV Auctions and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ACV Auctions 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 ACV Auctions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For information on how to trade ACV Stock refer to our How to Trade ACV Stock guide.

Moving together with ACV Stock

0.88	BV	BrightView Holdings	Pair Corr
0.9	FA	First Advantage Corp	Pair Corr
0.82	CBZ	CBIZ Inc	Pair Corr
0.62	MMS	Maximus	Pair Corr
0.92	H	Hyatt Hotels	Pair Corr
0.66	M	Macys Inc	Pair Corr
0.88	W	Wayfair	Pair Corr
0.81	BC	Brunswick	Pair Corr
0.68	BQ	Boqii Holding Limited	Pair Corr
0.83	FL	Foot Locker Sell-off Trend	Pair Corr
0.9	GP	GreenPower Motor	Pair Corr
0.68	LE	Lands End Earnings Call This Week	Pair Corr
0.71	QS	Quantumscape Corp Aggressive Push	Pair Corr
0.94	RH	RH Earnings Call This Week	Pair Corr
0.77	SG	Sweetgreen	Pair Corr
0.66	SN	SharkNinja,	Pair Corr
0.84	SW	Smurfit WestRock plc	Pair Corr
0.72	UA	Under Armour C	Pair Corr

Moving against ACV Stock

0.78	LI	Li Auto Sell-off Trend	Pair Corr
0.77	NSP	Insperity	Pair Corr
0.63	JD	JD Inc Adr Sell-off Trend	Pair Corr
0.42	CASS	Cass Information Systems	Pair Corr
0.41	EM	Smart Share Global	Pair Corr
0.81	VIPS	Vipshop Holdings	Pair Corr
0.73	VIOT	Viomi Technology ADR Earnings Call This Week	Pair Corr
0.57	SE	Sea Potential Growth	Pair Corr
0.4	OI	O I Glass Sell-off Trend	Pair Corr
0.38	YJ	Yunji Inc	Pair Corr
0.33	ZK	ZEEKR Intelligent	Pair Corr

Related Correlations Analysis

	CARG	KAR	KFS	DRVN	GPI	CARS	RUSHA	SAH	LAD	AN
CARG		-0.43	0.61	-0.13	0.47	0.89	0.73	0.62	0.84	0.66	CARG
KAR	-0.43		-0.49	0.4	0.29	-0.5	0.03	0.17	-0.29	0.09	KAR
KFS	0.61	-0.49		-0.08	-0.05	0.8	0.25	0.03	0.7	0.1	KFS
DRVN	-0.13	0.4	-0.08		-0.24	-0.25	0.06	-0.12	-0.16	-0.19	DRVN
GPI	0.47	0.29	-0.05	-0.24		0.33	0.72	0.92	0.53	0.92	GPI
CARS	0.89	-0.5	0.8	-0.25	0.33		0.6	0.46	0.91	0.54	CARS
RUSHA	0.73	0.03	0.25	0.06	0.72	0.6		0.84	0.69	0.82	RUSHA
SAH	0.62	0.17	0.03	-0.12	0.92	0.46	0.84		0.61	0.95	SAH
LAD	0.84	-0.29	0.7	-0.16	0.53	0.91	0.69	0.61		0.69	LAD
AN	0.66	0.09	0.1	-0.19	0.92	0.54	0.82	0.95	0.69		AN
	CARG	KAR	KFS	DRVN	GPI	CARS	RUSHA	SAH	LAD	AN

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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

AN	+ 0.95	SAH
SAH	+ 0.92	GPI
AN	+ 0.92	GPI
LAD	+ 0.91	CARS
CARS	+ 0.89	CARG
LAD	+ 0.84	CARG

High negative correlations

CARS	- 0.5	KAR
KFS	- 0.49	KAR
KAR	- 0.43	CARG
LAD	- 0.29	KAR
CARS	- 0.25	DRVN
GPI	- 0.24	DRVN

Risk-Adjusted Indicators

There is a big difference between ACV Stock performing well and ACV Auctions 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 ACV Auctions' 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
CARG	1.83	(0.19)	0.00	(0.18)	0.00	0.00	3.15	(4.18)	20.92
KAR	1.36	0.12	0.06	0.03	1.73	(1.37)	2.63	(3.08)	7.92
KFS	1.24	(0.12)	0.00	(0.32)	0.00	0.00	2.59	(2.75)	10.70
DRVN	1.41	0.13	0.07	0.04	1.76	(1.51)	2.68	(3.47)	12.31
GPI	1.27	0.01	0.00	(0.06)	0.00	0.00	2.47	(2.41)	13.30
CARS	2.36	(0.58)	0.00	(0.37)	0.00	0.00	4.51	(4.19)	25.98
RUSHA	1.52	(0.07)	0.00	(0.13)	0.00	0.00	3.03	(3.72)	10.06
SAH	1.45	(0.03)	0.00	(0.10)	0.00	0.00	2.72	(3.08)	11.27
LAD	1.52	(0.21)	0.00	(0.23)	0.00	0.00	3.40	(3.71)	10.18
AN	1.31	0.03	0.00	(0.05)	0.00	0.00	2.26	(3.60)	8.00

ACV Auctions Corporate Management

Craig Anderson	Chief Officer	Profile
Leanne Fitzgerald	Chief Secretary	Profile
Leanne JD	Chief Secretary	Profile
Maura Duggan	Associate Communications	Profile
William Zerella	Chief Officer	Profile
Sallie Reid	Chief Officer	Profile
Timothy Fox	VP Relations	Profile

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