Asbury Automotive Correlations

Stocks . USA . 
Stock . Asbury Automotive Group
ABG Stock  USD 260.03  3.69  1.40%   
The current 90-days correlation between Asbury Automotive and Sonic Automotive is 0.78 (i.e., Poor diversification). The correlation of Asbury Automotive 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.

Asbury Automotive Correlation With Market

Poor diversification

The correlation between Asbury Automotive Group and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asbury Automotive Group 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 Asbury Automotive Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Asbury Stock

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Moving against Asbury Stock

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  0.52WING WingstopPairCorr
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Related Correlations Analysis

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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   
GPI
+ 0.88
SAH
PAG
+ 0.81
AN
LAD
+ 0.78
SAH
GPI
+ 0.78
LAD
PAG
+ 0.74
SAH
GPI
+ 0.63
PAG
  
High negative correlations   
AN
- 0.02
LAD

Risk-Adjusted Indicators

There is a big difference between Asbury Stock performing well and Asbury Automotive 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 Asbury Automotive'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.

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