CarPartsCom Correlations

PRTS Stock

USD 0.56 0.07 11.11%

The current 90-days correlation between CarPartsCom and QVC Group is -0.06 (i.e., Good diversification). The correlation of CarPartsCom 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.

CarPartsCom Correlation With Market

Significant diversification

The correlation between CarPartsCom and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CarPartsCom and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CarPartsCom Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in CarPartsCom. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more information on how to buy CarPartsCom Stock please use our How to Invest in CarPartsCom guide.

Moving together with CarPartsCom Stock

0.7	KMX	CarMax Inc	Pair Corr
0.7	PAG	Penske Automotive	Pair Corr
0.75	002607	Offcn Education Tech	Pair Corr

Moving against CarPartsCom Stock

0.64	LSRCY	Lasertec	Pair Corr
0.47	GEBHF	Genting Berhad	Pair Corr
0.43	BKRKF	PT Bank Rakyat	Pair Corr
0.35	KXIN	Kaixin Auto Holdings	Pair Corr
0.7	NEE	Nextera Energy Aggressive Push	Pair Corr
0.67	XYL	Xylem Inc	Pair Corr
0.62	PATH	Uipath Inc	Pair Corr
0.59	INVX	Innovex International,	Pair Corr
0.57	BLNK	Blink Charging	Pair Corr
0.5	UEC	Uranium Energy Corp	Pair Corr
0.49	CVI	CVR Energy	Pair Corr
0.49	PLG	Platinum Group Metals Buyout Trend	Pair Corr
0.47	GS	Goldman Sachs Group	Pair Corr
0.45	DRDGF	Drdgold	Pair Corr
0.45	BK	Bank of New York	Pair Corr
0.41	BHR-PD	Braemar Hotels Resorts	Pair Corr
0.37	FET	Forum Energy Technologies Earnings Call This Week	Pair Corr

Related Correlations Analysis

	QVCGA	TBHC	TLYS	FRSX	LITB	FAT	VNCE	CDRO	LESL
QVCGA		0.43	0.43	-0.52	0.38	0.44	0.79	-0.5	-0.28	QVCGA
TBHC	0.43		0.66	-0.21	-0.05	0.28	0.25	0.12	0.34	TBHC
TLYS	0.43	0.66		-0.26	-0.3	0.36	0.13	0.29	0.58	TLYS
FRSX	-0.52	-0.21	-0.26		-0.35	0.14	-0.59	0.51	0.32	FRSX
LITB	0.38	-0.05	-0.3	-0.35		-0.35	0.61	-0.86	-0.81	LITB
FAT	0.44	0.28	0.36	0.14	-0.35		0.2	0.24	0.34	FAT
VNCE	0.79	0.25	0.13	-0.59	0.61	0.2		-0.78	-0.52	VNCE
CDRO	-0.5	0.12	0.29	0.51	-0.86	0.24	-0.78		0.86	CDRO
LESL	-0.28	0.34	0.58	0.32	-0.81	0.34	-0.52	0.86		LESL
	QVCGA	TBHC	TLYS	FRSX	LITB	FAT	VNCE	CDRO	LESL

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

LESL	+ 0.86	CDRO
VNCE	+ 0.79	QVCGA
TLYS	+ 0.66	TBHC
VNCE	+ 0.61	LITB
LESL	+ 0.58	TLYS
CDRO	+ 0.51	FRSX

High negative correlations

CDRO	- 0.86	LITB
LESL	- 0.81	LITB
CDRO	- 0.78	VNCE
VNCE	- 0.59	FRSX
LESL	- 0.52	VNCE
FRSX	- 0.52	QVCGA

Risk-Adjusted Indicators

There is a big difference between CarPartsCom Stock performing well and CarPartsCom 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 CarPartsCom'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
QVCGA	7.68	1.02	0.09	4.44	9.70	(8.47)	20.68	(10.55)	67.16
TBHC	3.59	0.04	0.05	0.14	4.28	(4.42)	11.11	(5.33)	31.35
TLYS	4.23	(0.22)	0.04	0.07	4.37	(5.68)	13.41	(9.14)	32.13
FRSX	2.98	0.06	0.00	0.08	0.00	0.00	6.55	(6.61)	27.54
LITB	5.18	1.45	0.22	(1.97)	4.60	(6.28)	15.14	(9.79)	47.32
FAT	2.53	(0.56)	0.00	(0.24)	0.00	0.00	4.83	(5.29)	25.04
VNCE	5.46	0.66	0.22	0.25	4.50	(6.94)	10.67	(6.99)	104.76
CDRO	1.59	(0.57)	0.00	(1.49)	0.00	0.00	3.43	(4.17)	8.29
LESL	4.66	(0.94)	0.00	(0.52)	0.00	0.00	9.42	(10.79)	39.72

CarPartsCom Corporate Management

Stephanie Urbach	Chief Officer	Profile
Alfredo Esq	General Counsel	Profile
Christina Thelin	Chief Officer	Profile
Tina Mirfarsi	Senior Culture	Profile
Ryan CFA	Chief Officer	Profile
Michael Huffaker	Chief Officer	Profile

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