CarGurus Correlations

CARG Stock

USD 29.93 1.20 3.85%

The current 90-days correlation between CarGurus and KAR Auction Services is 0.32 (i.e., Weak diversification). The correlation of CarGurus 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.

CarGurus Correlation With Market

Very weak diversification

The correlation between CarGurus and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CarGurus 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 CarGurus. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more detail on how to invest in CarGurus Stock please use our How to Invest in CarGurus guide.

Moving together with CarGurus Stock

0.71	RUSHA	Rush Enterprises A	Pair Corr
0.87	CARS	Cars Inc	Pair Corr
0.71	Z	Zillow Group Class	Pair Corr
0.76	EB	Eventbrite Class A	Pair Corr
0.74	OB	Outbrain	Pair Corr
0.65	ZG	Zillow Group	Pair Corr
0.92	DOYU	DouYu International Earnings Call This Week	Pair Corr

Moving against CarGurus Stock

0.86	VRM	Vroom, Common Stock	Pair Corr
0.57	BZ	Kanzhun Ltd ADR	Pair Corr
0.54	T	ATT Inc Earnings Call This Week	Pair Corr
0.36	KT	KT Corporation	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr
0.66	ZH	Zhihu Inc ADR Earnings Call This Week	Pair Corr
0.5	TU	Telus Corp Potential Growth	Pair Corr
0.44	ZI	ZoomInfo Technologies	Pair Corr
0.41	YY	YY Inc Class	Pair Corr
0.31	YQ	17 Education Technology	Pair Corr
0.73	CCG	Cheche Group Class	Pair Corr
0.65	EVER	EverQuote Class A Downward Rally	Pair Corr

Related Correlations Analysis

	KAR	KFS	DRVN	GPI	SAH	LAD	AN	ABG	PAG	CARS
KAR		-0.49	0.41	0.32	0.19	-0.31	0.1	0.23	0.55	-0.52	KAR
KFS	-0.49		0.07	-0.17	-0.05	0.68	0.03	-0.12	-0.23	0.8	KFS
DRVN	0.41	0.07		-0.16	-0.03	0.0	-0.12	0.0	0.15	-0.09	DRVN
GPI	0.32	-0.17	-0.16		0.92	0.44	0.91	0.89	0.83	0.21	GPI
SAH	0.19	-0.05	-0.03	0.92		0.56	0.95	0.93	0.78	0.38	SAH
LAD	-0.31	0.68	0.0	0.44	0.56		0.65	0.54	0.3	0.9	LAD
AN	0.1	0.03	-0.12	0.91	0.95	0.65		0.89	0.68	0.48	AN
ABG	0.23	-0.12	0.0	0.89	0.93	0.54	0.89		0.79	0.28	ABG
PAG	0.55	-0.23	0.15	0.83	0.78	0.3	0.68	0.79		0.02	PAG
CARS	-0.52	0.8	-0.09	0.21	0.38	0.9	0.48	0.28	0.02		CARS
	KAR	KFS	DRVN	GPI	SAH	LAD	AN	ABG	PAG	CARS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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
ABG	+ 0.93	SAH
SAH	+ 0.92	GPI
AN	+ 0.91	GPI
CARS	+ 0.9	LAD
ABG	+ 0.89	GPI

High negative correlations

CARS	- 0.52	KAR
KFS	- 0.49	KAR
LAD	- 0.31	KAR
PAG	- 0.23	KFS
GPI	- 0.17	KFS
GPI	- 0.16	DRVN

Risk-Adjusted Indicators

There is a big difference between CarGurus Stock performing well and CarGurus 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 CarGurus' 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
KAR	1.27	0.14	0.08	0.04	1.58	(1.29)	2.50	(3.03)	7.85
KFS	1.25	(0.12)	0.00	(0.32)	0.00	0.00	2.59	(2.75)	10.70
DRVN	1.42	0.17	0.09	0.07	1.70	(1.50)	2.68	(3.47)	12.31
GPI	1.23	0.00	0.00	(0.09)	0.00	0.00	2.31	(2.41)	13.30
SAH	1.43	(0.03)	0.00	(0.12)	0.00	0.00	2.72	(3.08)	11.27
LAD	1.48	(0.20)	0.00	(0.25)	0.00	0.00	3.40	(3.71)	10.18
AN	1.29	0.02	0.00	(0.08)	0.00	0.00	2.26	(3.60)	8.00
ABG	1.63	0.02	0.00	(0.08)	0.00	0.00	2.92	(3.29)	18.09
PAG	1.31	(0.02)	0.00	(0.11)	0.00	0.00	1.97	(2.58)	12.10
CARS	2.33	(0.52)	0.00	(0.37)	0.00	0.00	4.51	(4.19)	25.98

CarGurus Corporate Management

Andrea Eldridge	Chief Officer	Profile
Elisa Palazzo	Principal Officer	Profile
Dafna Sarnoff	Chief Officer	Profile
Javier Zamora	General Secretary	Profile
Brad Rosenfeld	Executive Commercialization	Profile
Kirndeep Singh	VP Relations	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC