KAR Auction Correlations
| KAR Stock | USD 17.58 0.13 0.74% |
The correlation of KAR Auction 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as KAR Auction moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KAR Auction Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between KAR Auction Services and NYA is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KAR Auction Services and NYA in the same portfolio, assuming nothing else is changed.
KAR |
The ability to find closely correlated positions to KAR Auction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KAR Auction 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 KAR Auction - 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 KAR Auction Services to buy it.
Moving together with KAR Stock
| 0.95 | BV | BrightView Holdings Buyout Trend | PairCorr |
| 0.74 | LZ | LegalZoom Financial Report 14th of May 2024 | PairCorr |
| 0.84 | MG | Mistras Group | PairCorr |
| 0.93 | NL | NL Industries | PairCorr |
| 0.74 | WM | Waste Management | PairCorr |
| 0.78 | VLTO | Veralto | PairCorr |
| 0.88 | VSEC | VSE Corporation Earnings Call This Week | PairCorr |
| 0.9 | WLDN | Willdan Group | PairCorr |
| 0.93 | ABM | ABM Industries Financial Report 4th of June 2024 | PairCorr |
Moving against KAR Stock
| 0.9 | DLHC | DLH Holdings Corp Fiscal Year End 4th of December 2024 | PairCorr |
| 0.89 | VRSK | Verisk Analytics | PairCorr |
| 0.67 | FA | First Advantage Corp Financial Report 8th of May 2024 | PairCorr |
| 0.58 | ACU | Acme United | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between KAR Stock performing well and KAR Auction 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 KAR Auction'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CARG | 1.61 | (0.13) | 0.00 | (0.02) | 0.00 | 3.07 | 10.17 | |||
| KFS | 1.39 | (0.03) | (0.01) | 0.02 | 1.75 | 3.28 | 9.44 | |||
| DRVN | 2.27 | (0.17) | 0.00 | (0.11) | 0.00 | 4.02 | 14.78 | |||
| GPI | 1.39 | (0.01) | 0.01 | 0.04 | 2.02 | 3.61 | 9.09 | |||
| RUSHB | 1.77 | (0.37) | 0.00 | (0.11) | 0.00 | 2.67 | 12.43 | |||
| SAH | 2.00 | 0.07 | 0.05 | 0.09 | 2.03 | 3.90 | 15.05 | |||
| ABG | 1.45 | (0.15) | 0.00 | (0.03) | 0.00 | 3.00 | 8.82 | |||
| CARS | 1.56 | (0.16) | 0.00 | (0.05) | 0.00 | 2.92 | 8.09 | |||
| RUSHA | 1.49 | (0.19) | 0.00 | (0.05) | 0.00 | 2.39 | 8.59 | |||
| PAG | 1.05 | (0.10) | 0.00 | (0.02) | 0.00 | 2.83 | 6.21 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in KAR Auction 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.Did you try this?
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KAR Auction Corporate Directors
KAR Auction corporate directors refer to members of a KAR Auction board of directors. The board of directors generally takes responsibility for the KAR Auction's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of KAR Auction's board members must vote for the resolution. The KAR Auction board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Mary Smith | Independent Director | Profile | |
| Roy Mackenzie | Independent Director | Profile | |
| Lynn Jolliffe | Independent Director | Profile | |
| Carmel Galvin | Independent Director | Profile |
Already Invested in KAR Auction Services?
The danger of trading KAR Auction Services is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of KAR Auction is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than KAR Auction. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile KAR Auction Services is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether KAR Auction Services is a strong investment it is important to analyze KAR Auction's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact KAR Auction's future performance. For an informed investment choice regarding KAR Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KAR Auction Services. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the KAR Auction Services information on this page should be used as a complementary analysis to other KAR Auction's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Complementary Tools for KAR Stock analysis
When running KAR Auction's price analysis, check to measure KAR Auction's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy KAR Auction is operating at the current time. Most of KAR Auction's value examination focuses on studying past and present price action to predict the probability of KAR Auction's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move KAR Auction's price. Additionally, you may evaluate how the addition of KAR Auction to your portfolios can decrease your overall portfolio volatility.
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Is KAR Auction's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of KAR Auction. If investors know KAR will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about KAR Auction listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 4 | Earnings Share (1.79) | Revenue Per Share 4.435 | Quarterly Revenue Growth (0.01) | Return On Assets 0.0313 |
The market value of KAR Auction Services is measured differently than its book value, which is the value of KAR that is recorded on the company's balance sheet. Investors also form their own opinion of KAR Auction's value that differs from its market value or its book value, called intrinsic value, which is KAR Auction's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because KAR Auction's market value can be influenced by many factors that don't directly affect KAR Auction's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between KAR Auction's value and its price as these two are different measures arrived at by different means. Investors typically determine if KAR Auction is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, KAR Auction's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.