Karooooo Correlations

KARO Stock

USD 41.87 0.83 2.02%

The current 90-days correlation between Karooooo and Meridianlink is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Karooooo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Karooooo moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Karooooo Correlation With Market

Modest diversification

The correlation between Karooooo and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Karooooo and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Karooooo. 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.

To learn how to invest in Karooooo Stock, please use our How to Invest in Karooooo guide.

Moving together with Karooooo Stock

0.63	AI	C3 Ai Inc	Pair Corr
0.74	DV	DoubleVerify Holdings	Pair Corr
0.73	EB	Eventbrite Class A	Pair Corr
0.63	ZM	Zoom Video Communications	Pair Corr
0.68	DSGX	Descartes Systems	Pair Corr
0.63	DUOL	Duolingo	Pair Corr
0.62	VMEO	Vimeo Inc Potential Growth	Pair Corr
0.66	VTEX	VTEX	Pair Corr
0.63	VTSI	VirTra Inc	Pair Corr
0.72	EGHT	8x8 Common Stock	Pair Corr
0.64	ELWS	Earlyworks Co,	Pair Corr
0.62	APP	Applovin Corp	Pair Corr

Moving against Karooooo Stock

0.4	QH	Quhuo	Pair Corr
0.35	ZI	ZoomInfo Technologies	Pair Corr
0.34	ENFN	Enfusion	Pair Corr

Related Correlations Analysis

	AMSWA	MLNK	MODN	CCRD	MNTV	MIXT	ENFN	ALKT	IDXAF	ISDR
AMSWA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AMSWA
MLNK	0.0		0.0	0.13	0.0	0.0	-0.54	0.61	0.0	0.75	MLNK
MODN	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MODN
CCRD	0.0	0.13	0.0		0.0	0.0	-0.34	0.66	0.0	0.42	CCRD
MNTV	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MNTV
MIXT	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MIXT
ENFN	0.0	-0.54	0.0	-0.34	0.0	0.0		-0.57	0.0	-0.65	ENFN
ALKT	0.0	0.61	0.0	0.66	0.0	0.0	-0.57		0.0	0.73	ALKT
IDXAF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	IDXAF
ISDR	0.0	0.75	0.0	0.42	0.0	0.0	-0.65	0.73	0.0		ISDR
	AMSWA	MLNK	MODN	CCRD	MNTV	MIXT	ENFN	ALKT	IDXAF	ISDR

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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

ISDR	+ 0.75	MLNK
ISDR	+ 0.73	ALKT
ALKT	+ 0.66	CCRD
ALKT	+ 0.61	MLNK
ISDR	+ 0.42	CCRD
CCRD	+ 0.13	MLNK

High negative correlations

ISDR	- 0.65	ENFN
ALKT	- 0.57	ENFN
ENFN	- 0.54	MLNK
ENFN	- 0.34	CCRD
ISDR	- 0.0	IDXAF
IDXAF	- 0.0	ALKT

Risk-Adjusted Indicators

There is a big difference between Karooooo Stock performing well and Karooooo 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 Karooooo'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
AMSWA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MLNK	1.36	(0.14)	0.00	(0.22)	0.00	0.00	1.84	(3.68)	21.48
MODN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCRD	2.21	(0.17)	0.00	(0.45)	0.00	0.00	4.70	(4.53)	12.83
MNTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MIXT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENFN	1.21	0.13	0.12	0.48	1.60	(1.46)	3.38	(2.60)	10.10
ALKT	2.01	(0.43)	0.00	(0.38)	0.00	0.00	3.49	(4.37)	19.06
IDXAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ISDR	1.73	(0.09)	0.00	(0.33)	0.00	0.00	2.88	(3.61)	9.01

Karooooo Corporate Management

Pedro Ventura	Chief Officer	Profile
Juan Marais	Chief Officer	Profile
Richard Schubert	Chief Officer	Profile
Paul Bieber	Vice Finance	Profile
Hoeshin Goy	CFO Director	Profile
Carmen Calisto	Chief Officer	Profile

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