Ashtead Group Correlations
| ASHTF Stock | USD 81.30 0.91 1.13% |
The current 90-days correlation between Ashtead Group plc and African Discovery Group is -0.08 (i.e., Good diversification). The correlation of Ashtead Group 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Ashtead Group Correlation With Market
Very weak diversification
The correlation between Ashtead Group plc and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashtead Group plc and DJI in the same portfolio, assuming nothing else is changed.
Ashtead |
The ability to find closely correlated positions to Ashtead Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ashtead Group 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 Ashtead Group - 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 Ashtead Group plc to buy it.
Moving together with Ashtead Pink Sheet
| 0.92 | URI | United Rentals Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.97 | ASHTY | Ashtead Gro | PairCorr |
| 0.69 | AER | AerCap Holdings NV | PairCorr |
| 0.83 | FTAI | Fortress Transp Infra | PairCorr |
| 0.85 | R | Ryder System | PairCorr |
| 0.74 | LVS | Las Vegas Sands Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.64 | EHGO | Eshallgo Class A | PairCorr |
| 0.75 | TPB | Turning Point Brands | PairCorr |
| 0.69 | TSM | Taiwan Semiconductor Fiscal Year End 16th of January 2025 | PairCorr |
| 0.65 | SMLR | Semler Scientific Downward Rally | PairCorr |
| 0.73 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.8 | OZK | Bank Ozk Fiscal Year End 16th of January 2025 | PairCorr |
| 0.7 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.69 | AVXL | Anavex Life Sciences Buyout Trend | PairCorr |
| 0.72 | CMG | Chipotle Mexican Grill Aggressive Push | PairCorr |
| 0.68 | MARA | Marathon Digital Holdings Aggressive Push | PairCorr |
| 0.76 | SOFI | SoFi Technologies Aggressive Push | PairCorr |
| 0.89 | KKR | KKR Co LP | PairCorr |
| 0.78 | TDOC | Teladoc Buyout Trend | PairCorr |
| 0.82 | SE | Sea Potential Growth | PairCorr |
| 0.77 | IOSP | Innospec | PairCorr |
Moving against Ashtead Pink Sheet
| 0.77 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.71 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.68 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.67 | BKRKY | Bank Rakyat | PairCorr |
| 0.45 | SHG | Shinhan Financial | PairCorr |
| 0.41 | PTBRY | Bank Negara Indonesia | PairCorr |
| 0.33 | PBCRY | Bank Central Asia | PairCorr |
Related Correlations Analysis
| 0.0 | 0.63 | 0.64 | -0.77 | 0.76 | AFDG | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | EOHDF | ||
| 0.63 | 0.0 | 0.74 | -0.77 | 0.69 | SLNFF | ||
| 0.64 | 0.0 | 0.74 | -0.84 | 0.67 | BCVVF | ||
| -0.77 | 0.0 | -0.77 | -0.84 | -0.8 | ALTG-PA | ||
| 0.76 | 0.0 | 0.69 | 0.67 | -0.8 | BDIMF | ||
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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 Ashtead Pink Sheet performing well and Ashtead Group 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 Ashtead Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AFDG | 1.40 | (0.77) | 0.00 | (2.42) | 0.00 | 0.00 | 33.33 | |||
| EOHDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SLNFF | 1.12 | (0.09) | 0.00 | (0.24) | 0.00 | 5.00 | 9.76 | |||
| BCVVF | 1.06 | (0.20) | 0.00 | 0.49 | 0.00 | 2.45 | 12.84 | |||
| ALTG-PA | 0.33 | 0.04 | (0.17) | (5.60) | 0.32 | 0.85 | 2.05 | |||
| BDIMF | 1.00 | (0.29) | 0.00 | (0.79) | 0.00 | 2.22 | 9.87 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Ashtead Group 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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Ashtead Group Corporate Management
| John Washburn | SVP Marketing | Profile | |
| Rob Phillips | Chief Rentals | Profile | |
| Anthony Miller | Ex VP | Profile | |
| Eric Watkins | Legal Counsel and Company Secretary | Profile | |
| Will Shaw | Director Relations | Profile |