Advance Auto Parts Stock Statistic Functions Beta
| AAP Stock | USD 41.35 3.09 6.95% |
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The output start index for this execution was ten with a total number of output elements of fifty-one. The Beta measures systematic risk based on how returns on Advance Auto Parts correlated with the market. If Beta is less than 0 Advance Auto generally moves in the opposite direction as compared to the market. If Advance Auto Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Advance Auto Parts is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Advance Auto is generally in the same direction as the market. If Beta > 1 Advance Auto moves generally in the same direction as, but more than the movement of the benchmark.
Advance Auto Technical Analysis Modules
Most technical analysis of Advance Auto help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Advance from various momentum indicators to cycle indicators. When you analyze Advance charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Advance Auto Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Advance Auto Parts. We use our internally-developed statistical techniques to arrive at the intrinsic value of Advance Auto Parts based on widely used predictive technical indicators. In general, we focus on analyzing Advance Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Advance Auto's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Advance Auto's intrinsic value. In addition to deriving basic predictive indicators for Advance Auto, we also check how macroeconomic factors affect Advance Auto price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
| 2016 | 2022 | 2023 | 2024 (projected) | Dividend Yield | 0.001426 | 0.0379 | 0.0341 | 0.0358 | Price To Sales Ratio | 1.3 | 0.8 | 0.72 | 0.7 |
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Advance Auto Parts pair trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Advance Auto position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Advance Auto will appreciate offsetting losses from the drop in the long position's value.Advance Auto Pair Trading
Advance Auto Parts Pair Trading Analysis
The ability to find closely correlated positions to Advance Auto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Advance Auto 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 Advance Auto - 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 Advance Auto Parts to buy it.
The correlation of Advance Auto 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 Advance Auto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advance Auto Parts 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.
Correlation analysis and pair trading evaluation for Advance Auto can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Advance Stock Analysis
When running Advance Auto's price analysis, check to measure Advance Auto'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 Advance Auto is operating at the current time. Most of Advance Auto's value examination focuses on studying past and present price action to predict the probability of Advance Auto's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Advance Auto's price. Additionally, you may evaluate how the addition of Advance Auto to your portfolios can decrease your overall portfolio volatility.