Prestige Cars Correlations

PREC Stock

USD 0.01 0 42.53%

The current 90-days correlation between Prestige Cars Intern and Kaixin Auto Holdings is -0.16 (i.e., Good diversification). The correlation of Prestige Cars 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.

Prestige Cars Correlation With Market

Good diversification

The correlation between Prestige Cars International and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prestige Cars International and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Prestige Cars could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prestige Cars 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 Prestige Cars - 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 Prestige Cars International to buy it.

Moving together with Prestige Pink Sheet

0.68	CPRT	Copart Inc	Pair Corr
0.65	ZSHGY	Zhongsheng Group Holdings	Pair Corr
0.67	LAD	Lithia Motors	Pair Corr
0.68	GPI	Group 1 Automotive	Pair Corr
0.75	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.7	DECK	Deckers Outdoor	Pair Corr
0.7	FTNT	Fortinet	Pair Corr
0.69	OZK	Bank Ozk Fiscal Year End 16th of January 2025	Pair Corr
0.66	FTI	TechnipFMC PLC Sell-off Trend	Pair Corr
0.65	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.77	OPFI	OppFi Inc Downward Rally	Pair Corr
0.86	FSTR	LB Foster	Pair Corr

Moving against Prestige Pink Sheet

0.63	TLK	Telkom Indonesia Tbk	Pair Corr
0.57	PTAIY	Astra International Tbk	Pair Corr
0.56	PIFMF	PT Indofood Sukses	Pair Corr
0.45	SIEVF	DIeteren Group SA	Pair Corr
0.41	PUTKY	United Tractors Tbk	Pair Corr
0.31	EC	Ecopetrol SA ADR	Pair Corr
0.43	BREA	Brera Holdings PLC	Pair Corr
0.41	CZR	Caesars Entertainment	Pair Corr
0.36	BIP-PB	Brookfield Infrastructure	Pair Corr

Related Correlations Analysis

	NWAU	VRM	AOCIF	KXIN	UXIN	KFS	KAR	CANG	UCAR
NWAU		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NWAU
VRM	0.0		-0.35	0.62	0.3	0.14	-0.61	-0.48	0.58	VRM
AOCIF	0.0	-0.35		-0.09	0.67	0.6	0.64	0.79	-0.02	AOCIF
KXIN	0.0	0.62	-0.09		0.48	-0.15	-0.52	-0.45	0.03	KXIN
UXIN	0.0	0.3	0.67	0.48		0.56	0.14	0.32	0.2	UXIN
KFS	0.0	0.14	0.6	-0.15	0.56		0.33	0.56	0.6	KFS
KAR	0.0	-0.61	0.64	-0.52	0.14	0.33		0.89	-0.24	KAR
CANG	0.0	-0.48	0.79	-0.45	0.32	0.56	0.89		-0.01	CANG
UCAR	0.0	0.58	-0.02	0.03	0.2	0.6	-0.24	-0.01		UCAR
	NWAU	VRM	AOCIF	KXIN	UXIN	KFS	KAR	CANG	UCAR

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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

CANG	+ 0.89	KAR
CANG	+ 0.79	AOCIF
UXIN	+ 0.67	AOCIF
KAR	+ 0.64	AOCIF
KXIN	+ 0.62	VRM
KFS	+ 0.6	AOCIF

High negative correlations

KAR	- 0.61	VRM
KAR	- 0.52	KXIN
CANG	- 0.48	VRM
CANG	- 0.45	KXIN
AOCIF	- 0.35	VRM
UCAR	- 0.24	KAR

Risk-Adjusted Indicators

There is a big difference between Prestige Pink Sheet performing well and Prestige Cars 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 Prestige Cars' 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
NWAU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VRM	4.76	(0.61)	0.00	(0.70)	0.00	0.00	9.33	(10.72)	45.12
AOCIF	0.79	0.37	0.00	(1.37)	0.00	0.00	4.30	0.00	8.67
KXIN	15.02	1.50	0.10	2.52	13.18	(24.03)	37.22	(27.39)	211.62
UXIN	9.05	2.16	0.30	1.00	6.55	(11.69)	29.04	(14.18)	103.24
KFS	1.27	0.08	0.01	0.29	1.34	(1.49)	2.38	(2.51)	10.73
KAR	1.47	0.09	0.09	0.18	1.33	(1.67)	2.47	(2.01)	13.95
CANG	4.57	1.56	0.39	1.67	2.98	(5.74)	16.80	(6.58)	31.66
UCAR	3.38	0.13	(0.01)	(0.09)	4.32	(3.45)	6.41	(7.00)	16.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in Prestige Cars 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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