Kaixin Auto Correlations

KXIN Stock

USD 1.00 0.01 0.99%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kaixin Auto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kaixin Auto Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Kaixin Auto Correlation With Market

Significant diversification

The correlation between Kaixin Auto Holdings and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kaixin Auto Holdings 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 Kaixin Auto Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Kaixin Stock

0.69	RH	RH Earnings Call This Week	Pair Corr
0.61	VSCO	Victorias Secret	Pair Corr
0.62	DKS	Dicks Sporting Goods	Pair Corr
0.63	KSS	Kohls Corp	Pair Corr
0.61	GLBE	Global E Online	Pair Corr
0.72	RENT	Rent the Runway	Pair Corr
0.69	ULTA	Ulta Beauty	Pair Corr
0.65	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.86	VNCE	Vince Holding Corp	Pair Corr

Moving against Kaixin Stock

0.7	AZO	AutoZone	Pair Corr
0.67	VIPS	Vipshop Holdings	Pair Corr
0.63	JD	JD Inc Adr	Pair Corr
0.62	PDD	PDD Holdings	Pair Corr
0.52	MELI	MercadoLibre	Pair Corr
0.69	BABA	Alibaba Group Holding	Pair Corr
0.64	ORLY	OReilly Automotive	Pair Corr
0.45	DPZ	Dominos Pizza Common	Pair Corr

Related Correlations Analysis

	CZOO	VRM	CANG	CARS	KFSYF	KAR	RUSHB	RUSHA	KFS	SAH
CZOO		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CZOO
VRM	0.0		-0.8	-0.89	0.0	0.65	-0.25	-0.48	-0.78	-0.33	VRM
CANG	0.0	-0.8		0.7	0.0	-0.61	0.18	0.28	0.55	0.17	CANG
CARS	0.0	-0.89	0.7		0.0	-0.49	0.24	0.61	0.79	0.51	CARS
KFSYF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	KFSYF
KAR	0.0	0.65	-0.61	-0.49	0.0		0.18	0.03	-0.49	0.17	KAR
RUSHB	0.0	-0.25	0.18	0.24	0.0	0.18		0.76	0.02	0.69	RUSHB
RUSHA	0.0	-0.48	0.28	0.61	0.0	0.03	0.76		0.25	0.87	RUSHA
KFS	0.0	-0.78	0.55	0.79	0.0	-0.49	0.02	0.25		0.08	KFS
SAH	0.0	-0.33	0.17	0.51	0.0	0.17	0.69	0.87	0.08		SAH
	CZOO	VRM	CANG	CARS	KFSYF	KAR	RUSHB	RUSHA	KFS	SAH

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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

SAH	+ 0.87	RUSHA
KFS	+ 0.79	CARS
RUSHA	+ 0.76	RUSHB
CARS	+ 0.7	CANG
SAH	+ 0.69	RUSHB
KAR	+ 0.65	VRM

High negative correlations

CARS	- 0.89	VRM
CANG	- 0.8	VRM
KFS	- 0.78	VRM
KAR	- 0.61	CANG
KFS	- 0.49	KAR
KAR	- 0.49	CARS

Risk-Adjusted Indicators

There is a big difference between Kaixin Stock performing well and Kaixin Auto 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 Kaixin Auto'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
CZOO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VRM	12.93	5.55	1.08	(0.79)	2.64	(25.37)	4.42	(4.69)	437.18
CANG	4.22	(0.12)	0.00	(0.42)	0.00	0.00	9.39	(8.55)	25.28
CARS	2.34	(0.49)	0.00	(0.32)	0.00	0.00	4.51	(4.19)	25.98
KFSYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KAR	1.38	0.08	0.04	0.01	1.74	(1.40)	2.63	(3.08)	7.92
RUSHB	1.55	0.10	0.04	0.02	2.04	(1.62)	2.84	(3.04)	8.87
RUSHA	1.52	(0.08)	0.00	(0.13)	0.00	0.00	3.03	(3.72)	10.06
KFS	1.36	(0.05)	0.00	(0.17)	0.00	0.00	3.04	(2.75)	10.70
SAH	1.43	(0.03)	0.00	(0.09)	0.00	0.00	2.72	(3.08)	11.27

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