Consistency and Momentum in NASCAR
Finance, Real Estate, and Business Law
Conventional wisdom in sports is that consistency is praiseworthy and that competitors should seek momentum. A small standard deviation is the simplest measure of consistency, and a positive autocorrelation is the simplest measure of momentum. With these statistical definitions, we find that consistency is predictable for Sprint Cup drivers, but momentum is not. Simulating seasons, we find consistency reduces the variability in season-ending performances and momentum increases them. Since drivers are ordinarily seeking unlikely occurrences, consistency is harmful and momentum is beneficial. Thus, consistency is obtainable but not desirable, and momentum is desirable but not obtainable in National Association for Stock Car Auto Racing.
Journal of Sports Economics
Depken, C. A.,
(2017). Consistency and Momentum in NASCAR. Journal of Sports Economics, 18(6), 601-621.
Available at: https://aquila.usm.edu/fac_pubs/17662