Penske Automotive Correlations
| PAG Stock | USD 149.02 1.08 0.73% |
The correlation of Penske 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Penske Automotive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Penske Automotive Group 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.
Poor diversification
The correlation between Penske Automotive Group and NYA is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Penske Automotive Group and NYA in the same portfolio, assuming nothing else is changed.
Penske |
The ability to find closely correlated positions to Penske Automotive could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Penske Automotive 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 Penske Automotive - 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 Penske Automotive Group to buy it.
Moving together with Penske Stock
| 0.64 | AN | AutoNation Earnings Call This Week | PairCorr |
| 0.65 | HD | Home Depot Financial Report 21st of May 2024 | PairCorr |
| 0.65 | BBY | Best Buy Financial Report 23rd of May 2024 | PairCorr |
| 0.67 | DBI | Designer Brands Financial Report 13th of June 2024 | PairCorr |
| 0.8 | KMX | CarMax Inc Financial Report 28th of June 2024 | PairCorr |
Moving against Penske Stock
| 0.51 | CONN | Conns Inc Financial Report 6th of June 2024 | PairCorr |
| 0.44 | SPWH | Sportsmans Financial Report 4th of June 2024 | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Penske Stock performing well and Penske 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 Penske 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GPI | 1.30 | (0.16) | 0.00 | (0.02) | 0.00 | 2.95 | 9.88 | |||
| LAD | 1.46 | (0.18) | 0.00 | (0.84) | 0.00 | 3.38 | 7.97 | |||
| AN | 1.38 | 0.11 | 0.04 | 0.29 | 1.64 | 3.41 | 8.21 | |||
| ABG | 1.40 | (0.05) | 0.01 | 0.05 | 1.86 | 3.18 | 8.82 | |||
| SAH | 1.71 | (0.19) | 0.00 | (0.03) | 0.00 | 3.72 | 8.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Penske Automotive 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.Did you try this?
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Penske Automotive Corporate Directors
Penske Automotive corporate directors refer to members of a Penske Automotive board of directors. The board of directors generally takes responsibility for the Penske Automotive's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Penske Automotive's board members must vote for the resolution. The Penske Automotive board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Kanji Sasaki | Director | Profile | |
| H Thompson | Lead Independent Director | Profile | |
| Lucio Noto | Independent Director | Profile | |
| Sandra Pierce | Independent Director | Profile |
Already Invested in Penske Automotive Group?
The danger of trading Penske Automotive Group 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 Penske Automotive 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 Penske Automotive. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Penske Automotive 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.
When determining whether Penske Automotive is a strong investment it is important to analyze Penske Automotive's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Penske Automotive's future performance. For an informed investment choice regarding Penske Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Penske Automotive Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Penske Automotive information on this page should be used as a complementary analysis to other Penske Automotive'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 the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Complementary Tools for Penske Stock analysis
When running Penske Automotive's price analysis, check to measure Penske Automotive'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 Penske Automotive is operating at the current time. Most of Penske Automotive's value examination focuses on studying past and present price action to predict the probability of Penske Automotive's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Penske Automotive's price. Additionally, you may evaluate how the addition of Penske Automotive to your portfolios can decrease your overall portfolio volatility.
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Is Penske Automotive'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 Penske Automotive. If investors know Penske 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 Penske Automotive 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 (0.33) | Dividend Share 3.04 | Earnings Share 15.5 | Revenue Per Share 434.457 | Quarterly Revenue Growth 0.037 |
The market value of Penske Automotive is measured differently than its book value, which is the value of Penske that is recorded on the company's balance sheet. Investors also form their own opinion of Penske Automotive's value that differs from its market value or its book value, called intrinsic value, which is Penske Automotive'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 Penske Automotive's market value can be influenced by many factors that don't directly affect Penske Automotive'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 Penske Automotive's value and its price as these two are different measures arrived at by different means. Investors typically determine if Penske Automotive is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Penske Automotive'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.