Carsales Correlations

CSXXY Stock

USD 46.53 0.36 0.78%

The current 90-days correlation between CarsalesCom ADR and Auto Trader Group is 0.2 (i.e., Modest diversification). The correlation of Carsales 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.

Carsales Correlation With Market

Good diversification

The correlation between CarsalesCom Ltd ADR and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CarsalesCom Ltd ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Carsales Pink Sheet

0.77

BKRKY

Bank Rakyat Earnings Call This Week

Pair Corr

Moving against Carsales Pink Sheet

0.66	VRT	Vertiv Holdings	Pair Corr
0.48	SHG	Shinhan Financial Earnings Call Today	Pair Corr
0.48	UNFI	United Natural Foods	Pair Corr
0.45	AEP	American Electric Power	Pair Corr
0.38	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.38	DWTX	Dogwood Therapeutics,	Pair Corr
0.33	VIVC	Vivic Corp	Pair Corr
0.32	DASH	DoorDash, Class A Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ATDRY	ATDRF	RTMVF	RTMVY	SBSNY	CEVMY	ELMUF	NPSNY	CEVMF	BCEXF
ATDRY		0.73	0.77	0.88	0.75	0.83	0.82	-0.67	0.7	-0.86	ATDRY
ATDRF	0.73		0.65	0.67	0.63	0.58	0.64	-0.61	0.47	-0.6	ATDRF
RTMVF	0.77	0.65		0.91	0.87	0.72	0.79	-0.73	0.7	-0.71	RTMVF
RTMVY	0.88	0.67	0.91		0.84	0.85	0.82	-0.75	0.79	-0.87	RTMVY
SBSNY	0.75	0.63	0.87	0.84		0.69	0.7	-0.66	0.59	-0.7	SBSNY
CEVMY	0.83	0.58	0.72	0.85	0.69		0.7	-0.59	0.83	-0.93	CEVMY
ELMUF	0.82	0.64	0.79	0.82	0.7	0.7		-0.81	0.62	-0.75	ELMUF
NPSNY	-0.67	-0.61	-0.73	-0.75	-0.66	-0.59	-0.81		-0.58	0.67	NPSNY
CEVMF	0.7	0.47	0.7	0.79	0.59	0.83	0.62	-0.58		-0.81	CEVMF
BCEXF	-0.86	-0.6	-0.71	-0.87	-0.7	-0.93	-0.75	0.67	-0.81		BCEXF
	ATDRY	ATDRF	RTMVF	RTMVY	SBSNY	CEVMY	ELMUF	NPSNY	CEVMF	BCEXF

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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

RTMVY	+ 0.91	RTMVF
RTMVY	+ 0.88	ATDRY
SBSNY	+ 0.87	RTMVF
CEVMY	+ 0.85	RTMVY
SBSNY	+ 0.84	RTMVY
CEVMY	+ 0.83	ATDRY

High negative correlations

BCEXF	- 0.93	CEVMY
BCEXF	- 0.87	RTMVY
BCEXF	- 0.86	ATDRY
BCEXF	- 0.81	CEVMF
NPSNY	- 0.81	ELMUF
BCEXF	- 0.75	ELMUF

Risk-Adjusted Indicators

There is a big difference between Carsales Pink Sheet performing well and Carsales 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 Carsales' 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
ATDRY	0.93	(0.04)	0.00	0.19	0.00	0.00	1.91	(1.81)	6.38
ATDRF	1.48	0.02	0.00	0.02	0.00	0.00	4.14	(5.00)	13.57
RTMVF	0.55	(0.30)	0.00	6.98	0.00	0.00	0.00	(0.78)	7.36
RTMVY	0.87	(0.24)	0.00	(0.58)	0.00	0.00	1.45	(2.66)	7.14
SBSNY	1.88	(0.12)	0.00	0.91	0.00	0.00	5.59	(5.78)	15.08
CEVMY	1.80	(0.39)	0.00	(2.38)	0.00	0.00	4.05	(7.16)	36.47
ELMUF	0.22	(0.08)	0.00	1.63	0.00	0.00	0.00	0.00	6.57
NPSNY	1.34	(0.01)	0.02	0.04	1.68	(1.39)	2.66	(2.35)	9.93
CEVMF	0.91	(0.34)	0.00	0.28	0.00	0.00	0.00	(1.54)	19.82
BCEXF	0.05	0.01	0.00	(0.87)	0.00	0.00	0.00	0.00	1.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in Carsales 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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Carsales Corporate Management

OAM OAM	CoFounder Director	Profile
Nicole Birman	General Counsel, Company Secretary	Profile
Ajay Bhatia	Chief Product and Information Officer	Profile
William Elliott	Chief Officer	Profile
Kane Hocking	Head Relations	Profile

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