Driven Brands Correlations

DRVN Etf

USD 14.05 0.06 0.43%

The current 90-days correlation between Driven Brands Holdings and CarGurus is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Driven Brands moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Driven Brands Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Driven Brands Correlation With Market

Very weak diversification

The correlation between Driven Brands Holdings 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 Driven Brands Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Driven Brands Holdings. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Driven Etf

0.86	BV	BrightView Holdings Fiscal Year End 21st of November 2024	Pair Corr
0.85	FA	First Advantage Corp	Pair Corr
0.73	MG	Mistras Group	Pair Corr
0.79	NL	NL Industries	Pair Corr
0.76	VLTO	Veralto	Pair Corr
0.72	ESGL	ESGL Holdings Limited	Pair Corr
0.75	EXPO	Exponent	Pair Corr
0.82	WLDN	Willdan Group	Pair Corr
0.82	ADP	Automatic Data Processing	Pair Corr
0.72	ARC	ARC Document Solutions	Pair Corr
0.68	AXR	AMREP	Pair Corr
0.65	BCO	Brinks Company	Pair Corr
0.8	BRC	Brady	Pair Corr
0.72	CIX	CompX International	Pair Corr
0.88	CLH	Clean Harbors	Pair Corr
0.65	EBF	Ennis Inc	Pair Corr
0.74	EFX	Equifax Earnings Call This Week	Pair Corr
0.62	HNI	HNI Corp	Pair Corr

Moving against Driven Etf

0.71	VCIG	VCI Global Limited	Pair Corr
0.53	WHLM	Wilhelmina	Pair Corr
0.52	DLHC	DLH Holdings Corp Fiscal Year End 4th of December 2024	Pair Corr
0.44	VRSK	Verisk Analytics	Pair Corr
0.79	DSS	DSS Inc	Pair Corr
0.58	CBZ	CBIZ Inc	Pair Corr
0.52	DLX	Deluxe	Pair Corr
0.37	BTM	Bitcoin Depot	Pair Corr
0.33	CXW	CoreCivic	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.78	-0.42	0.72	0.58	0.76	0.06	-0.51	0.4	META
MSFT	0.02		0.25	0.7	-0.2	-0.48	0.09	-0.05	0.73	-0.38	MSFT
UBER	0.78	0.25		-0.07	0.52	0.39	0.62	0.4	-0.15	0.2	UBER
F	-0.42	0.7	-0.07		-0.46	-0.59	-0.18	0.11	0.86	-0.24	F
T	0.72	-0.2	0.52	-0.46		0.67	0.52	0.01	-0.53	0.23	T
A	0.58	-0.48	0.39	-0.59	0.67		0.65	0.29	-0.7	0.59	A
CRM	0.76	0.09	0.62	-0.18	0.52	0.65		0.22	-0.35	0.64	CRM
JPM	0.06	-0.05	0.4	0.11	0.01	0.29	0.22		0.04	0.25	JPM
MRK	-0.51	0.73	-0.15	0.86	-0.53	-0.7	-0.35	0.04		-0.48	MRK
XOM	0.4	-0.38	0.2	-0.24	0.23	0.59	0.64	0.25	-0.48		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MRK	+ 0.86	F
UBER	+ 0.78	META
CRM	+ 0.76	META
MRK	+ 0.73	MSFT
T	+ 0.72	META
F	+ 0.7	MSFT

High negative correlations

MRK	- 0.7	A
A	- 0.59	F
MRK	- 0.53	T
MRK	- 0.51	META
XOM	- 0.48	MRK
A	- 0.48	MSFT

Driven Brands Competition Risk-Adjusted Indicators

There is a big difference between Driven Etf performing well and Driven Brands ETF 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 Driven Brands' 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
META	1.47	0.11	0.04	0.22	1.96	(1.53)	3.86	(3.21)	8.61
MSFT	1.01	(0.26)	0.00	(0.19)	0.00	0.00	1.77	(2.45)	5.05
UBER	1.87	0.02	0.01	0.11	2.12	(2.19)	5.29	(3.33)	13.81
F	1.77	(0.23)	0.00	1.91	0.00	0.00	2.84	(3.91)	22.50
T	0.90	0.25	0.12	(28.96)	1.03	(1.02)	2.53	(2.20)	7.97
A	1.09	0.11	0.08	0.19	1.16	(1.13)	2.84	(2.08)	6.97
CRM	1.29	0.07	0.07	0.15	1.26	(1.41)	2.93	(2.03)	6.48
JPM	1.06	(0.07)	(0.02)	0.04	1.70	(0.93)	2.06	(2.37)	7.98
MRK	1.01	(0.20)	0.00	2.45	0.00	0.00	1.31	(2.09)	11.82
XOM	1.19	0.08	0.03	0.23	1.40	(1.24)	2.10	(2.30)	5.78

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