Custom Truck Correlations

CTOS Stock

USD 4.79 0.01 0.21%

The correlation of Custom Truck 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Custom Truck Correlation With Market

Very weak diversification

The correlation between Custom Truck One and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Custom Truck One 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 Custom Truck One. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Custom Stock

0.65

URI

United Rentals

Pair Corr

Moving against Custom Stock

0.58	FTAIN	Fortress Transportation	Pair Corr
0.56	FTAIM	FTAI Aviation	Pair Corr
0.46	MWG	Multi Ways Holdings	Pair Corr
0.45	FTAI	Fortress Transp Infra	Pair Corr
0.37	TRTN-PA	Triton International	Pair Corr
0.33	PC	Premium Catering	Pair Corr
0.32	AZ	A2Z Smart Technologies Tech Boost	Pair Corr

Related Correlations Analysis

	AAN	PRG	MGRC	HEES	GATX	ALTG	HRI
AAN		0.0	0.0	0.0	0.0	0.0	0.0	AAN
PRG	0.0		0.13	-0.51	0.14	0.89	0.94	PRG
MGRC	0.0	0.13		0.55	0.82	0.44	0.36	MGRC
HEES	0.0	-0.51	0.55		0.49	-0.22	-0.32	HEES
GATX	0.0	0.14	0.82	0.49		0.39	0.31	GATX
ALTG	0.0	0.89	0.44	-0.22	0.39		0.97	ALTG
HRI	0.0	0.94	0.36	-0.32	0.31	0.97		HRI
	AAN	PRG	MGRC	HEES	GATX	ALTG	HRI

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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

HRI	+ 0.97	ALTG
HRI	+ 0.94	PRG
ALTG	+ 0.89	PRG
GATX	+ 0.82	MGRC
HEES	+ 0.55	MGRC
GATX	+ 0.49	HEES

High negative correlations

HEES	- 0.51	PRG
HRI	- 0.32	HEES
ALTG	- 0.22	HEES
HRI	- 0.0	AAN
ALTG	- 0.0	AAN
GATX	- 0.0	AAN

Risk-Adjusted Indicators

There is a big difference between Custom Stock performing well and Custom Truck 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 Custom Truck'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
AAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRG	2.19	(0.55)	0.00	(0.74)	0.00	0.00	3.12	(4.44)	31.87
MGRC	1.16	(0.02)	0.00	(0.10)	0.00	0.00	2.75	(2.53)	7.16
HEES	3.92	1.78	1.39	1.07	0.00	(5.78)	1.53	(1.89)	107.70
GATX	1.00	0.06	0.06	0.00	1.11	(1.12)	2.11	(1.83)	7.23
ALTG	3.25	(0.22)	0.00	(0.17)	0.00	0.00	6.91	(6.25)	15.90
HRI	2.49	(0.42)	0.00	(0.39)	0.00	0.00	3.46	(6.02)	17.97

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