KMX vs. AZO
KMX (CarMax, Inc.) and AZO (AutoZone, Inc.) are both stocks. Both are in the Consumer Cyclical sector — KMX in Auto & Truck Dealerships, AZO in Specialty Retail. Over the past 10 years, KMX returned -0.36%/yr vs 15.09%/yr for AZO. At a 0.31 correlation, their price movements are largely independent.
Performance
KMX vs. AZO - Performance Comparison
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Returns By Period
In the year-to-date period, KMX achieves a 22.93% return, which is significantly higher than AZO's -9.36% return. Over the past 10 years, KMX has underperformed AZO with an annualized return of -0.36%, while AZO has yielded a comparatively higher 15.09% annualized return.
KMX
- 1D
- 0.74%
- 1M
- 17.75%
- YTD
- 22.93%
- 6M
- 20.99%
- 1Y
- -27.71%
- 3Y*
- -15.53%
- 5Y*
- -16.21%
- 10Y*
- -0.36%
AZO
- 1D
- -1.36%
- 1M
- -12.07%
- YTD
- -9.36%
- 6M
- -18.39%
- 1Y
- -17.35%
- 3Y*
- 9.16%
- 5Y*
- 17.26%
- 10Y*
- 15.09%
KMX vs. AZO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMX CarMax, Inc. | 22.93% | -52.74% | 6.54% | 26.03% | -53.24% | 37.87% | 7.74% | 39.76% | -2.18% | -0.40% |
AZO AutoZone, Inc. | -9.36% | 5.92% | 23.84% | 4.84% | 17.64% | 76.84% | -0.49% | 42.10% | 17.85% | -9.93% |
Correlation
The correlation between KMX and AZO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 1997 | 0.31 |
The correlation between KMX and AZO shifts across timeframes, from 0.12 (1 year) to 0.32 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
KMX:
$7.01B
AZO:
$51.80B
KMX:
$1.66
AZO:
$145.27
KMX:
28.69
AZO:
21.16
KMX:
0.27
AZO:
2.62
KMX:
$25.88B
AZO:
$19.99B
KMX:
$2.81B
AZO:
$10.34B
KMX:
$768.58M
AZO:
$4.26B
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Return for Risk
KMX vs. AZO — Risk / Return Rank
KMX
AZO
KMX vs. AZO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CarMax, Inc. (KMX) and AutoZone, Inc. (AZO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| KMX | AZO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.91 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | -0.53 | +0.05 |
| Martin ratioReturn relative to average drawdown | -0.77 | -1.15 | +0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KMX | AZO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.53 | -0.64 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 0.71 | -1.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | 0.57 | -0.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.63 | -0.52 |
Drawdowns
KMX vs. AZO - Drawdown Comparison
The maximum KMX drawdown since its inception was -93.19%, which is greater than AZO's maximum drawdown of -46.32%. Use the drawdown chart below to compare losses from any high point for KMX and AZO.
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Drawdown Indicators
| KMX | AZO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.19% | -46.32% | -46.87% |
Max Drawdown (1Y)Largest decline over 1 year | -56.85% | -32.59% | -24.26% |
Max Drawdown (3Y)Largest decline over 3 years | -65.38% | -32.59% | -32.79% |
Max Drawdown (5Y)Largest decline over 5 years | -80.06% | -32.59% | -47.47% |
Max Drawdown (10Y)Largest decline over 10 years | -80.06% | -42.14% | -37.92% |
Current DrawdownCurrent decline from peak | -69.33% | -29.41% | -39.92% |
Average DrawdownAverage peak-to-trough decline | -31.74% | -10.88% | -20.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.04% | 15.08% | +20.96% |
Volatility
KMX vs. AZO - Volatility Comparison
CarMax, Inc. (KMX) has a higher volatility of 11.99% compared to AutoZone, Inc. (AZO) at 11.38%. This indicates that KMX's price experiences larger fluctuations and is considered to be riskier than AZO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMX | AZO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.99% | 11.38% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 34.46% | 22.93% | +11.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.71% | 27.20% | +25.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.23% | 24.45% | +19.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.53% | 26.48% | +14.05% |
Dividends
KMX vs. AZO - Dividend Comparison
Neither KMX nor AZO has paid dividends to shareholders.
Financials
KMX vs. AZO - Financials Comparison
This section allows you to compare key financial metrics between CarMax, Inc. and AutoZone, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
KMX vs. AZO - Profitability Comparison
KMX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported a gross profit of 420.20M and revenue of 4.52B. Therefore, the gross margin over that period was 9.3%.
AZO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AutoZone, Inc. reported a gross profit of 2.52B and revenue of 4.84B. Therefore, the gross margin over that period was 52.2%.
KMX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported an operating income of -339.44M and revenue of 4.52B, resulting in an operating margin of -7.5%.
AZO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AutoZone, Inc. reported an operating income of 923.76M and revenue of 4.84B, resulting in an operating margin of 19.1%.
KMX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported a net income of -120.68M and revenue of 4.52B, resulting in a net margin of -2.7%.
AZO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AutoZone, Inc. reported a net income of 641.49M and revenue of 4.84B, resulting in a net margin of 13.3%.
Frequently Asked Questions
KMX and AZO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMX has higher volatility (11.99%) compared to AZO (11.38%). In terms of maximum drawdown, KMX dropped -93.19% vs AZO's -46.32%.
KMX currently has the higher Sharpe Ratio (-0.53 vs -0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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