Parts ID Correlations

ID
 Stock
  

USD 1.43  0.02  1.42%   

The correlation of Parts ID is a statistical measure of how it moves in relation to other equities. 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 Parts ID moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Parts ID 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.
Please see Risk vs Return Analysis.
  
The ability to find closely correlated positions to Parts ID could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Parts ID 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 Parts ID - 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 Parts ID to buy it.

Moving together with Parts ID

0.76CVNACarvana Co Cl Downward RallyPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
BACGE
BAAMZN
HDAMZN
CVXGE
CVXBAC
HDGE
  
High negative correlations   
JNJBA
JNJAMZN
HDJNJ
CVXBA
MRKCVX
JNJGE

Parts ID Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Parts Stock performing well and Parts ID company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Parts ID's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
AMZN 2.47  0.23  0.08  0.17  2.77  0.08 (2.51)  4.39 (5.23)  12.21 
GE 1.57 (0.01)  0.00  0.03  2.05 (0.003) (1.57)  3.33 (3.32)  8.85 
BAC 1.50 (0.06) (0.03)  0.00  1.69 (0.0242) (1.71)  3.38 (3.07)  9.79 
BA 2.32  0.29  0.11  0.23  2.47  0.1 (2.82)  6.13 (4.95)  16.31 
JNJ 0.84 (0.10)  0.00 (0.18)  0.00 (0.11)  0.00  1.75 (2.01)  5.07 
CVX 1.72 (0.15)  0.00 (0.12)  0.00 (0.07)  0.00  2.97 (4.35)  11.62 
HD 1.23  0.07  0.04  0.12  1.73  0.0399 (1.32)  2.75 (2.60)  7.58 
KO 0.98 (0.04) (0.03)  0.00  1.64 (0.0342) (0.96)  1.87 (1.96)  6.97 
MRK 0.93 (0.02) (0.04) (0.01)  1.26 (0.0397) (0.94)  1.64 (2.50)  6.96 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Parts ID 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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Fundamental Analysis

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Parts ID Corporate Executives

Elected by the shareholders, the Parts ID's board of directors comprises two types of representatives: Parts ID inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Parts. The board's role is to monitor Parts ID's management team and ensure that shareholders' interests are well served. Parts ID'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, Parts ID's outside directors are responsible for providing unbiased perspectives on the board's policies.
William Finn - Chief Financial Officer, SecretaryProfile
Kailas Agrawal - Chief Financial OfficerProfile
Ajay Roy - Chief Operating OfficerProfile

Invested in Parts ID?

You need to understand the risk of investing before taking a position in Parts ID. The danger of trading Parts ID 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 Parts ID 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 Parts ID. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Parts ID 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.
Please see Risk vs Return Analysis. Note that the Parts ID information on this page should be used as a complementary analysis to other Parts ID'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 Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.

Complementary Tools for Parts Stock analysis

When running Parts ID price analysis, check to measure Parts ID'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 Parts ID is operating at the current time. Most of Parts ID's value examination focuses on studying past and present price action to predict the probability of Parts ID's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Parts ID's price. Additionally, you may evaluate how the addition of Parts ID to your portfolios can decrease your overall portfolio volatility.
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Is Parts ID'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 Parts ID. If investors know Parts 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 Parts ID 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 YOY
-0.78
Market Capitalization
48 M
Quarterly Revenue Growth YOY
-0.2
Return On Assets
-0.2
The market value of Parts ID is measured differently than its book value, which is the value of Parts that is recorded on the company's balance sheet. Investors also form their own opinion of Parts ID's value that differs from its market value or its book value, called intrinsic value, which is Parts ID'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 Parts ID's market value can be influenced by many factors that don't directly affect Parts ID'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 Parts ID's value and its price as these two are different measures arrived at by different means. Investors typically determine Parts ID value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Parts ID'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.