AGCO Correlations

AGCO Stock

USD 93.09 1.38 1.46%

The current 90-days correlation between AGCO and Terex is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AGCO moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AGCO Corporation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AGCO Correlation With Market

Modest diversification

The correlation between AGCO Corp. and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AGCO Corp. and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AGCO Corporation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with AGCO Stock

0.61	DE	Deere Company	Pair Corr
0.66	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.81	LNN	Lindsay	Pair Corr
0.62	PCAR	PACCAR Inc	Pair Corr
0.67	CP	Canadian Pacific Railway	Pair Corr
0.62	CR	Crane Company	Pair Corr

Moving against AGCO Stock

0.34

CEADW

CEA Industries Warrant

Pair Corr

Related Correlations Analysis

	PCAR	MTW	WNC	TEX	CAT	CNHI	NKLA	ALG	HY	CMCO
PCAR		0.12	0.47	0.69	0.67	0.0	0.44	-0.04	0.66	0.49	PCAR
MTW	0.12		-0.55	0.01	-0.16	0.0	-0.5	0.24	0.28	-0.52	MTW
WNC	0.47	-0.55		0.76	0.72	0.0	0.94	0.14	0.54	0.95	WNC
TEX	0.69	0.01	0.76		0.87	0.0	0.76	0.27	0.88	0.8	TEX
CAT	0.67	-0.16	0.72	0.87		0.0	0.68	0.21	0.7	0.8	CAT
CNHI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CNHI
NKLA	0.44	-0.5	0.94	0.76	0.68	0.0		0.01	0.56	0.89	NKLA
ALG	-0.04	0.24	0.14	0.27	0.21	0.0	0.01		0.23	0.11	ALG
HY	0.66	0.28	0.54	0.88	0.7	0.0	0.56	0.23		0.58	HY
CMCO	0.49	-0.52	0.95	0.8	0.8	0.0	0.89	0.11	0.58		CMCO
	PCAR	MTW	WNC	TEX	CAT	CNHI	NKLA	ALG	HY	CMCO

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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

CMCO	+ 0.95	WNC
NKLA	+ 0.94	WNC
CMCO	+ 0.89	NKLA
HY	+ 0.88	TEX
CAT	+ 0.87	TEX
CMCO	+ 0.8	TEX

High negative correlations

WNC	- 0.55	MTW
CMCO	- 0.52	MTW
NKLA	- 0.5	MTW
CAT	- 0.16	MTW
ALG	- 0.04	PCAR
CMCO	- 0.0	CNHI

Risk-Adjusted Indicators

There is a big difference between AGCO Stock performing well and AGCO 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 AGCO'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PCAR	1.27	(0.13)	(0.24)	2.24	(3.37)	9.09
MTW	2.26	0.07	(0.03)	5.24	(5.05)	19.98
WNC	2.21	(0.62)	(0.79)	4.28	(5.52)	13.46
TEX	1.80	(0.25)	(0.27)	3.39	(3.80)	10.40
CAT	1.21	(0.11)	(0.18)	2.72	(3.10)	8.22
CNHI	0.00	0.00	0.00	0.00	0.00	0.00
NKLA	10.68	(2.36)	(2.54)	24.03	(30.77)	81.55
ALG	1.09	(0.06)	(0.44)	1.96	(2.71)	7.08
HY	1.66	(0.23)	(0.32)	2.75	(3.69)	15.44
CMCO	2.42	(0.85)	(0.81)	3.59	(5.25)	44.77

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