KMX vs. CVNA
KMX (CarMax, Inc.) and CVNA (Carvana Co.) are both stocks. Both are in the Consumer Cyclical sector — KMX in Auto & Truck Dealerships, CVNA in Internet Retail. Over the past 5 years, KMX returned -15.63%/yr vs -1.58%/yr for CVNA. Their 0.40 correlation means their historical movements had little consistent relationship.
Performance
KMX vs. CVNA - Performance Comparison
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Returns By Period
In the year-to-date period, KMX achieves a 48.19% return, which is significantly higher than CVNA's -26.12% return.
KMX
- 1D
- -2.45%
- 1M
- 12.32%
- 6M
- 28.56%
- YTD
- 48.19%
- 1Y
- 2.29%
- 3Y*
- -12.02%
- 5Y*
- -15.63%
- 10Y*
- 0.30%
- ALL TIME*
- 5.75%
CVNA
- 1D
- 1.50%
- 1M
- -9.10%
- 6M
- -22.27%
- YTD
- -26.12%
- 1Y
- -15.22%
- 3Y*
- 85.17%
- 5Y*
- -1.58%
- 10Y*
- —
- ALL TIME*
- 40.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CVNA Carvana Co. | $811.17M | $686.87M | $733.32M |
KMX CarMax, Inc. | $173.24M | $158.39M | $161.67M |
KMX vs. CVNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KMX CarMax, Inc. | 48.19% | -52.74% | 6.54% | 26.03% | -53.24% | 37.87% | 7.74% | 39.76% | -2.18% | 6.74% |
CVNA Carvana Co. | -26.12% | 107.52% | 284.13% | 1,016.88% | -97.96% | -3.24% | 160.23% | 181.41% | 71.08% | 41.63% |
Correlation
The correlation between KMX and CVNA is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017 | 0.40 |
The correlation between KMX and CVNA shifts across timeframes, from 0.36 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
KMX:
$8.13B
CVNA:
$68.40B
KMX:
$1.51
CVNA:
$2.06
KMX:
37.97
CVNA:
30.22
KMX:
0.32
CVNA:
2.08
KMX:
1.33
CVNA:
11.46
KMX:
$26.35B
CVNA:
$25.06B
KMX:
$2.77B
CVNA:
$4.85B
KMX:
$1.31B
CVNA:
$73.00M
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Return for Risk
KMX vs. CVNA — Risk / Return Rank
KMX
CVNA
KMX vs. CVNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CarMax, Inc. (KMX) and Carvana Co. (CVNA). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KMX | CVNA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.99 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.49 | +0.51 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.93 | +0.97 |
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Drawdowns
KMX vs. CVNA - Drawdown Comparison
The maximum KMX drawdown since its inception was -93.46%, smaller than the maximum CVNA drawdown of -98.99%. Use the drawdown chart below to compare losses from any high point for KMX and CVNA.
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Drawdown Indicators
| KMX | CVNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.46% | -98.99% | +5.53% |
Max Drawdown (1Y)Largest decline over 1 year | -50.33% | -41.21% | -9.12% |
Max Drawdown (3Y)Largest decline over 3 years | -65.38% | -53.47% | -11.91% |
Max Drawdown (5Y)Largest decline over 5 years | -80.06% | -98.99% | +18.93% |
Max Drawdown (10Y)Largest decline over 10 years | -80.06% | — | — |
Current DrawdownCurrent decline from peak | -63.02% | -34.83% | -28.19% |
Average DrawdownAverage peak-to-trough decline | -32.15% | -38.14% | +5.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.54% | 21.87% | +6.67% |
Volatility
KMX vs. CVNA - Volatility Comparison
The current volatility for CarMax, Inc. (KMX) is 10.25%, while Carvana Co. (CVNA) has a volatility of 17.37%. This indicates that KMX experiences smaller price fluctuations and is considered to be less risky than CVNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMX | CVNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.25% | 17.37% | -7.12% |
Volatility (6M)Calculated over the trailing 6-month period | 37.49% | 43.18% | -5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.86% | 62.70% | -7.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.89% | 111.63% | -66.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.84% | 98.93% | -58.09% |
Dividends
KMX vs. CVNA - Dividend Comparison
Neither KMX nor CVNA has paid dividends to shareholders.
Financials
KMX vs. CVNA - Financials Comparison
This section allows you to compare key financial metrics between CarMax, Inc. and Carvana Co.. 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. CVNA - Profitability Comparison
KMX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, CarMax, Inc. reported a gross profit of 854.41M and revenue of 8.01B. Therefore, the gross margin over that period was 10.7%.
CVNA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Carvana Co. reported a gross profit of 1.38B and revenue of 7.38B. Therefore, the gross margin over that period was 18.8%.
KMX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, CarMax, Inc. reported an operating income of 150.00M and revenue of 8.01B, resulting in an operating margin of 1.9%.
CVNA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Carvana Co. reported an operating income of 680.00M and revenue of 7.38B, resulting in an operating margin of 9.2%.
KMX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, CarMax, Inc. reported a net income of 185.63M and revenue of 8.01B, resulting in a net margin of 2.3%.
CVNA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Carvana Co. reported a net income of 310.00M and revenue of 7.38B, resulting in a net margin of 4.2%.
Frequently Asked Questions
KMX and CVNA have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVNA has higher volatility (17.37%) compared to KMX (10.25%). In terms of maximum drawdown, KMX dropped -93.46% vs CVNA's -98.99%.
KMX currently has the higher Sharpe Ratio (0.02 vs -0.33), 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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