Avis Budget Correlations

Stocks . Germany . 
Stock . Avis Budget Group
CUCA Stock  EUR 135.85  1.05  0.78%   
The current 90-days correlation between Avis Budget Group and Comba Telecom Systems is -0.1 (i.e., Good diversification). The correlation of Avis Budget 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.

Avis Budget Correlation With Market

Modest diversification

The correlation between Avis Budget Group and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avis Budget Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Avis Budget could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Avis Budget 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 Avis Budget - 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 Avis Budget Group to buy it.

Moving together with Avis Stock

  0.89AUK AMERCOPairCorr
  0.84WS11 WillScot Mobile MiniPairCorr
  0.64SIX3 Sixt SEPairCorr
  0.73SIX2 Sixt SEPairCorr
  0.65SIX3 Sixt SEPairCorr
  0.68GOC Star DiamondPairCorr

Moving against Avis Stock

  0.77KB9 KBC Ancora SCAPairCorr
  0.71UR3 United RentalsPairCorr
  0.680LC Ashtead Group plcPairCorr
  0.52COA1 Comba Telecom SystemsPairCorr
  0.395TJ COMPUTER MODELLINGPairCorr
  0.3761F ELEMENT FLEET MGMTPairCorr
  0.33ODQ ODYSSEY GOLD LTDPairCorr
  0.7E6Z AECOM TECHNOLOGYPairCorr
  0.65MOB Monster Beverage CorpPairCorr
  0.62RYC ROYAL BANK CANADAPairCorr
  0.64OQ1 AGNC INVESTMENTPairCorr
  0.52COA1 COMBA TELECOM SYSTPairCorr
  0.5AY7A ASM Pacific TechnologyPairCorr
  0.44PNT Pentair plcPairCorr
  0.43HAM1 Harmony Gold MiningPairCorr
  0.41VOL1 VOLVO -B-PairCorr
  0.41BHP1 BHP Group LimitedPairCorr
  0.38OLN OlinPairCorr
  0.38M3V MeVis Medical SolutionsPairCorr
  0.37BWQ Advanced BlockchainPairCorr
  0.37TLD Tinka Resources SplitPairCorr
  0.79WF3 Wesfarmers LimitedPairCorr
  0.74LHL Lenovo Group LimitedPairCorr
  0.71GCB PTT Global ChemicalPairCorr
  0.71CBK Commerzbank AGPairCorr
  0.69PHI1 Koninklijke PhilipsPairCorr
  0.66XSDG Samsung SDIPairCorr

Related Correlations Analysis


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

COA1
+ 0.91
HLG
UTDI
+ 0.83
HLG
UTDI
+ 0.82
COA1
1C6
+ 0.75
PIJ
A3J
+ 0.71
COA1
PIJ
+ 0.71
CMW
  

High negative correlations

A3J
- 0.42
CMW
A3J
- 0.17
PIJ
1C6
- 0.07
A3J

Risk-Adjusted Indicators

There is a big difference between Avis Stock performing well and Avis Budget 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 Avis Budget'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.

Be your own money manager

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

Elected by the shareholders, the Avis Budget's board of directors comprises two types of representatives: Avis Budget inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Avis. The board's role is to monitor Avis Budget's management team and ensure that shareholders' interests are well served. Avis Budget's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Avis Budget's outside directors are responsible for providing unbiased perspectives on the board's policies.
Patrick RankinPres InternationalProfile
Jean SeraGen VPProfile
Bernardo HeesNonIndependent ChairmanProfile
Izilda MartinsEx AmericasProfile
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