CarGurus Correlations

CARG Stock

USD 36.03 0.05 0.14%

The current 90-days correlation between CarGurus and KAR Auction Services is 0.45 (i.e., Very weak diversification). The correlation of CarGurus 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.

CarGurus Correlation With Market

Very weak diversification

The correlation between CarGurus and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CarGurus and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CarGurus. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more detail on how to invest in CarGurus Stock please use our How to Invest in CarGurus guide.

Moving together with CarGurus Stock

0.74	MCW	Mister Car Wash	Pair Corr
0.89	RUSHB	Rush Enterprises B	Pair Corr
0.84	RUSHA	Rush Enterprises A	Pair Corr
0.85	CARS	Cars Inc	Pair Corr
0.88	T	ATT Inc Earnings Call This Week	Pair Corr
0.89	Z	Zillow Group Class	Pair Corr
0.93	DJCO	Daily Journal Corp Earnings Call This Week	Pair Corr
0.88	EA	Electronic Arts Sell-off Trend	Pair Corr
0.93	EB	Eventbrite Class A	Pair Corr
0.68	KT	KT Corporation	Pair Corr
0.75	OB	Outbrain	Pair Corr
0.89	SE	Sea	Pair Corr
0.62	YY	YY Inc Class Buyout Trend	Pair Corr
0.89	ZG	Zillow Group	Pair Corr
0.63	DOYU	DouYu International	Pair Corr
0.8	VEON	VEON	Pair Corr
0.74	ANGHW	Anghami Warrants	Pair Corr
0.69	WBTN	WEBTOON Entertainment	Pair Corr

Moving against CarGurus Stock

0.71	IQ	iQIYI Inc	Pair Corr
0.63	BZ	Kanzhun Ltd ADR	Pair Corr
0.53	VVV	Valvoline	Pair Corr
0.5	SDA	SunCar Technology	Pair Corr
0.84	TV	Grupo Televisa SAB	Pair Corr
0.79	TC	TuanChe ADR	Pair Corr
0.74	TU	Telus Corp	Pair Corr
0.74	DRCT	Direct Digital Holdings	Pair Corr
0.72	YQ	17 Education Technology	Pair Corr
0.58	DLPN	Dolphin Entertainment	Pair Corr
0.55	SY	So Young International	Pair Corr
0.36	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.33	GDEVW	Nexters Warrant	Pair Corr
0.92	BCE	BCE Inc	Pair Corr
0.83	FENG	Phoenix New Media	Pair Corr

Related Correlations Analysis

	KAR	KFS	DRVN	GPI	SAH	LAD	AN	ABG	PAG	CARS
KAR		0.03	0.96	0.95	0.94	0.91	0.43	0.91	0.77	0.9	KAR
KFS	0.03		0.06	-0.08	0.11	0.32	-0.51	0.22	-0.28	-0.03	KFS
DRVN	0.96	0.06		0.92	0.94	0.91	0.4	0.9	0.79	0.89	DRVN
GPI	0.95	-0.08	0.92		0.95	0.86	0.61	0.91	0.83	0.93	GPI
SAH	0.94	0.11	0.94	0.95		0.94	0.5	0.94	0.8	0.92	SAH
LAD	0.91	0.32	0.91	0.86	0.94		0.24	0.93	0.62	0.84	LAD
AN	0.43	-0.51	0.4	0.61	0.5	0.24		0.44	0.78	0.59	AN
ABG	0.91	0.22	0.9	0.91	0.94	0.93	0.44		0.73	0.89	ABG
PAG	0.77	-0.28	0.79	0.83	0.8	0.62	0.78	0.73		0.83	PAG
CARS	0.9	-0.03	0.89	0.93	0.92	0.84	0.59	0.89	0.83		CARS
	KAR	KFS	DRVN	GPI	SAH	LAD	AN	ABG	PAG	CARS

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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

DRVN	+ 0.96	KAR
GPI	+ 0.95	KAR
SAH	+ 0.95	GPI
SAH	+ 0.94	KAR
SAH	+ 0.94	DRVN
LAD	+ 0.94	SAH

High negative correlations

AN	- 0.51	KFS
PAG	- 0.28	KFS
GPI	- 0.08	KFS
CARS	- 0.03	KFS

Risk-Adjusted Indicators

There is a big difference between CarGurus Stock performing well and CarGurus 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 CarGurus' 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
KAR	1.34	0.26	0.18	0.24	1.25	(1.52)	2.25	(2.05)	14.07
KFS	1.27	0.08	0.04	0.19	1.37	(1.55)	2.38	(2.30)	10.73
DRVN	1.49	0.19	0.09	1.40	1.63	(1.55)	3.66	(2.89)	10.30
GPI	1.40	0.08	0.05	0.07	1.53	(1.48)	2.86	(2.70)	11.29
SAH	1.62	0.09	0.07	0.07	1.53	(2.11)	4.59	(3.07)	13.72
LAD	1.43	0.23	0.15	0.20	1.31	(1.67)	3.06	(2.68)	13.82
AN	1.29	(0.10)	0.00	(0.05)	0.00	0.00	2.58	(2.55)	7.41
ABG	1.48	0.09	0.06	0.08	1.44	(1.61)	3.72	(2.34)	10.57
PAG	1.04	0.00	(0.01)	0.02	1.26	(1.16)	2.34	(2.12)	7.57
CARS	1.66	(0.09)	0.00	(0.04)	0.00	0.00	4.66	(2.95)	10.37

CarGurus Corporate Management

Andrea Eldridge	Chief Officer	Profile
Elisa Palazzo	Principal Officer	Profile
Dafna Sarnoff	Chief Officer	Profile
Javier Zamora	General Secretary	Profile
Brad Rosenfeld	Executive Commercialization	Profile
Kirndeep Singh	VP Relations	Profile

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