CarPartsCom Correlations

PRTS Stock

USD 0.96 0.06 5.88%

The current 90-days correlation between CarPartsCom and Liquidity Services is 0.18 (i.e., Average diversification). The correlation of CarPartsCom 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.

CarPartsCom Correlation With Market

Good diversification

The correlation between CarPartsCom and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CarPartsCom and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in CarPartsCom. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy CarPartsCom Stock please use our How to Invest in CarPartsCom guide.

Moving together with CarPartsCom Stock

0.63	WRBY	Warby Parker	Pair Corr
0.66	ABG	Asbury Automotive	Pair Corr
0.76	ELA	Envela Corp	Pair Corr
0.81	EYE	National Vision Holdings	Pair Corr
0.72	GME	GameStop Corp Downward Rally	Pair Corr
0.64	GLBE	Global E Online	Pair Corr
0.71	JFBR	Jeffs Brands	Pair Corr

Moving against CarPartsCom Stock

0.52	AEO	American Eagle Outfitters	Pair Corr
0.45	YJ	Yunji Inc	Pair Corr
0.43	ASO	Academy Sports Outdoors	Pair Corr
0.35	BBY	Best Buy	Pair Corr
0.69	ODP	ODP Corp	Pair Corr
0.63	BGI	Birks Group	Pair Corr
0.37	DBI	Designer Brands Earnings Call Tomorrow	Pair Corr
0.35	DIT	AMCON Distributing	Pair Corr
0.31	HVT	Haverty Furniture	Pair Corr
0.48	GNLN	Greenlane Holdings	Pair Corr
0.39	TLF	Tandy Leather Factory	Pair Corr

Related Correlations Analysis

	LQDT	DADA	DIBS	QRTEP	OZON	QRTEB	HOUR	DTC	HEPS	NHTC
LQDT		-0.1	-0.71	0.3	0.0	-0.67	0.53	-0.47	0.13	-0.3	LQDT
DADA	-0.1		-0.25	0.25	0.0	0.17	0.29	-0.2	0.04	-0.64	DADA
DIBS	-0.71	-0.25		0.0	0.0	0.75	-0.66	0.76	-0.49	0.62	DIBS
QRTEP	0.3	0.25	0.0		0.0	0.27	0.29	0.17	-0.56	-0.26	QRTEP
OZON	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	OZON
QRTEB	-0.67	0.17	0.75	0.27	0.0		-0.36	0.56	-0.62	0.25	QRTEB
HOUR	0.53	0.29	-0.66	0.29	0.0	-0.36		-0.64	0.12	-0.68	HOUR
DTC	-0.47	-0.2	0.76	0.17	0.0	0.56	-0.64		-0.5	0.58	DTC
HEPS	0.13	0.04	-0.49	-0.56	0.0	-0.62	0.12	-0.5		-0.12	HEPS
NHTC	-0.3	-0.64	0.62	-0.26	0.0	0.25	-0.68	0.58	-0.12		NHTC
	LQDT	DADA	DIBS	QRTEP	OZON	QRTEB	HOUR	DTC	HEPS	NHTC

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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

DTC	+ 0.76	DIBS
QRTEB	+ 0.75	DIBS
NHTC	+ 0.62	DIBS
NHTC	+ 0.58	DTC
DTC	+ 0.56	QRTEB
HOUR	+ 0.53	LQDT

High negative correlations

DIBS	- 0.71	LQDT
NHTC	- 0.68	HOUR
QRTEB	- 0.67	LQDT
HOUR	- 0.66	DIBS
DTC	- 0.64	HOUR
NHTC	- 0.64	DADA

Risk-Adjusted Indicators

There is a big difference between CarPartsCom Stock performing well and CarPartsCom 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 CarPartsCom'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
LQDT	1.17	0.08	0.09	0.19	1.22	(1.24)	2.19	(2.10)	9.34
DADA	5.09	0.62	0.09	1.20	5.35	(6.49)	13.13	(9.83)	38.16
DIBS	1.47	(0.44)	0.00	(0.31)	0.00	0.00	3.01	(3.99)	11.92
QRTEP	1.46	(0.06)	(0.01)	0.08	1.91	(1.56)	3.90	(3.23)	9.82
OZON	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QRTEB	3.37	(0.43)	0.00	(1.65)	0.00	0.00	6.47	(6.62)	23.12
HOUR	2.42	0.35	0.07	0.86	3.37	(2.77)	4.40	(4.82)	42.64
DTC	3.11	(0.35)	0.00	(0.08)	0.00	0.00	7.19	(6.38)	19.35
HEPS	3.13	0.39	0.08	(6.07)	2.87	(4.52)	4.94	(5.41)	65.78
NHTC	1.62	(0.32)	0.00	(0.85)	0.00	0.00	2.85	(3.33)	13.19

CarPartsCom Corporate Management

Stephanie Urbach	Chief Officer	Profile
Alfredo Esq	General Counsel	Profile
Christina Thelin	Chief Officer	Profile
Tina Mirfarsi	Senior Culture	Profile
Ryan CFA	Chief Officer	Profile
Michael Huffaker	Chief Officer	Profile

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