LKQ Correlations

LKQ1 Stock

EUR 38.40 1.20 3.23%

The current 90-days correlation between LKQ Corporation and INTERCONT HOTELS is -0.03 (i.e., Good 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.

LKQ Correlation With Market

Good diversification

The correlation between LKQ Corp. and DJI is -0.17 (i.e., Good 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.

The ability to find closely correlated positions to LKQ could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LKQ when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back LKQ - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling LKQ Corporation to buy it.

Moving together with LKQ Stock

0.87	BGTA	Bridgestone	Pair Corr
0.81	SVM	Sovereign Metals	Pair Corr
0.66	GOC	Star Diamond Earnings Call This Week	Pair Corr
0.83	KB9	KBC Ancora SCA	Pair Corr
0.66	E908	Lyxor 1	Pair Corr
0.79	DBPE	Xtrackers LevDAX	Pair Corr

Moving against LKQ Stock

0.8	DBPD	Xtrackers ShortDAX	Pair Corr
0.61	ASJA	PT Astra International	Pair Corr
0.6	DNOA	DENSO P ADR	Pair Corr
0.59	DNO	Dno ASA	Pair Corr
0.58	MGA	Magna International	Pair Corr
0.45	8VY	SCANDION ONC DK	Pair Corr

Related Correlations Analysis

	MEL	SDP	DHG	ZSL	CUG	8PM	E1V	IC1B
MEL		0.67	-0.67	-0.02	0.0	-0.19	0.44	0.57	MEL
SDP	0.67		-0.87	-0.03	0.0	-0.58	0.73	0.83	SDP
DHG	-0.67	-0.87		0.07	0.0	0.52	-0.73	-0.73	DHG
ZSL	-0.02	-0.03	0.07		0.0	0.65	-0.19	0.27	ZSL
CUG	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CUG
8PM	-0.19	-0.58	0.52	0.65	0.0		-0.69	-0.29	8PM
E1V	0.44	0.73	-0.73	-0.19	0.0	-0.69		0.7	E1V
IC1B	0.57	0.83	-0.73	0.27	0.0	-0.29	0.7		IC1B
	MEL	SDP	DHG	ZSL	CUG	8PM	E1V	IC1B

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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

IC1B	+ 0.83	SDP
E1V	+ 0.73	SDP
IC1B	+ 0.7	E1V
SDP	+ 0.67	MEL
8PM	+ 0.65	ZSL
IC1B	+ 0.57	MEL

High negative correlations

DHG	- 0.87	SDP
IC1B	- 0.73	DHG
E1V	- 0.73	DHG
E1V	- 0.69	8PM
DHG	- 0.67	MEL
8PM	- 0.58	SDP

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
MEL	1.28	(0.12)	0.00	(1.03)	0.00	0.00	2.32	(2.84)	10.08
SDP	1.62	(0.31)	0.00	1.79	0.00	0.00	2.54	(3.33)	10.70
DHG	1.63	0.39	0.28	1.43	1.18	(2.21)	4.28	(2.46)	18.43
ZSL	0.94	0.02	0.08	(0.32)	1.11	(0.97)	2.04	(1.86)	5.85
CUG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
8PM	1.03	0.14	0.13	(4.19)	1.12	(1.32)	2.56	(2.46)	7.10
E1V	1.71	(0.08)	0.00	(0.38)	0.00	0.00	3.19	(3.57)	12.30
IC1B	1.23	(0.23)	0.00	(1.20)	0.00	0.00	2.36	(3.39)	7.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in LKQ without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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LKQ Corporate Management

Elected by the shareholders, the LKQ's board of directors comprises two types of representatives: LKQ inside directors who are chosen from within the company, and outside directors, selected externally and held independent of LKQ. The board's role is to monitor LKQ's management team and ensure that shareholders' interests are well served. LKQ's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, LKQ's outside directors are responsible for providing unbiased perspectives on the board's policies.

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