LKQ Correlations

LKQ Stock

USD 39.29 0.16 0.41%

The current 90-days correlation between LKQ Corporation and Gentex is 0.41 (i.e., Very weak diversification). The correlation of LKQ 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. If the correlation is 0, the equities are not correlated; they are entirely random.

LKQ Correlation With Market

Very weak diversification

The correlation between LKQ Corp. and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LKQ Corp. 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 LKQ Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with LKQ Stock

0.81	DKS	Dicks Sporting Goods	Pair Corr
0.74	HVT	Haverty Furniture	Pair Corr
0.76	ZUMZ	Zumiez Inc	Pair Corr
0.61	JILL	JJill Inc Earnings Call This Week	Pair Corr
0.77	ROST	Ross Stores Sell-off Trend	Pair Corr
0.64	SCVL	Shoe Carnival	Pair Corr
0.83	ARHS	Arhaus Inc	Pair Corr
0.63	GV	Visionary Education	Pair Corr

Moving against LKQ Stock

0.62	TLF	Tandy Leather Factory	Pair Corr
0.46	VSCO	Victorias Secret	Pair Corr
0.46	LOW	Lowes Companies Sell-off Trend	Pair Corr
0.45	ORLY	OReilly Automotive	Pair Corr
0.43	HD	Home Depot	Pair Corr
0.42	WRBY	Warby Parker	Pair Corr
0.36	WOOF	Pet Acquisition LLC	Pair Corr
0.78	DOGZ	Dogness International	Pair Corr
0.66	EVRI	Everi Holdings	Pair Corr
0.6	LI	Li Auto	Pair Corr
0.57	CTRN	Citi Trends	Pair Corr
0.55	UCAR	U Power Limited	Pair Corr
0.55	RL	Ralph Lauren Corp	Pair Corr
0.43	TTSH	Tile Shop Holdings	Pair Corr
0.39	GM	General Motors	Pair Corr
0.34	UA	Under Armour C	Pair Corr

Related Correlations Analysis

	GNTX	ADNT	ALV	FOXF	DAN	LEA	DORM	SRI	MNRO
GNTX		-0.05	0.48	-0.2	-0.15	-0.1	0.34	-0.14	0.31	GNTX
ADNT	-0.05		-0.21	0.89	0.79	0.86	-0.71	0.71	-0.03	ADNT
ALV	0.48	-0.21		-0.46	-0.2	-0.11	0.5	-0.2	0.12	ALV
FOXF	-0.2	0.89	-0.46		0.79	0.84	-0.8	0.8	-0.21	FOXF
DAN	-0.15	0.79	-0.2	0.79		0.82	-0.7	0.67	-0.22	DAN
LEA	-0.1	0.86	-0.11	0.84	0.82		-0.77	0.9	-0.39	LEA
DORM	0.34	-0.71	0.5	-0.8	-0.7	-0.77		-0.83	0.52	DORM
SRI	-0.14	0.71	-0.2	0.8	0.67	0.9	-0.83		-0.59	SRI
MNRO	0.31	-0.03	0.12	-0.21	-0.22	-0.39	0.52	-0.59		MNRO
	GNTX	ADNT	ALV	FOXF	DAN	LEA	DORM	SRI	MNRO

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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

SRI	+ 0.9	LEA
FOXF	+ 0.89	ADNT
LEA	+ 0.86	ADNT
LEA	+ 0.84	FOXF
LEA	+ 0.82	DAN
SRI	+ 0.8	FOXF

High negative correlations

SRI	- 0.83	DORM
DORM	- 0.8	FOXF
DORM	- 0.77	LEA
DORM	- 0.71	ADNT
DORM	- 0.7	DAN
MNRO	- 0.59	SRI

Risk-Adjusted Indicators

There is a big difference between LKQ Stock performing well and LKQ 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 LKQ'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
GNTX	1.13	(0.10)	(0.09)	(0.01)	1.43	(1.17)	2.24	(2.36)	7.93
ADNT	1.90	(0.39)	0.00	(0.14)	0.00	0.00	4.08	(4.22)	10.66
ALV	1.54	(0.13)	(0.07)	(0.01)	1.84	(1.59)	2.80	(3.14)	8.85
FOXF	1.96	(0.53)	0.00	(0.14)	0.00	0.00	3.31	(4.97)	15.31
DAN	2.79	(0.41)	0.00	(0.03)	0.00	0.00	5.53	(5.70)	22.77
LEA	1.49	(0.40)	0.00	(0.19)	0.00	0.00	3.00	(3.53)	9.76
DORM	1.32	0.25	0.18	0.42	0.97	(1.56)	3.10	(2.12)	14.67
SRI	2.77	(1.03)	0.00	(3.25)	0.00	0.00	4.32	(6.29)	30.05
MNRO	1.50	(0.09)	(0.02)	0.06	1.62	(1.75)	4.55	(2.57)	10.48

LKQ Corporate Management

Walter Hanley	Sr. VP of Devel. and Associate General Counsel	Profile
Terry Fortner	Sales Insurance	Profile
Genevieve Dombrowski	Senior Resources	Profile
Yanik Cantieni	Chief Europe	Profile

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