HE Equipment Correlations

HEES Stock

USD 95.97 0.94 0.99%

The current 90-days correlation between HE Equipment Services and GATX Corporation is 0.25 (i.e., Modest diversification). The correlation of HE Equipment 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.

HE Equipment Correlation With Market

Average diversification

The correlation between HE Equipment Services and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HE Equipment Services and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HE Equipment Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with HEES Stock

0.63	AER	AerCap Holdings NV	Pair Corr
0.8	G	Genpact Limited	Pair Corr

Moving against HEES Stock

0.68	ZCAR	Zoomcar Holdings	Pair Corr
0.66	WLFC	Willis Lease Finance	Pair Corr
0.64	FTAI	Fortress Transp Infra	Pair Corr
0.63	VSTS	Vestis	Pair Corr
0.59	FPAY	FlexShopper Earnings Call This Week	Pair Corr
0.55	PRG	PROG Holdings	Pair Corr
0.4	FTAIM	FTAI Aviation	Pair Corr
0.35	HRI	Herc Holdings	Pair Corr
0.77	BW	Babcock Wilcox Enter	Pair Corr
0.63	BV	BrightView Holdings	Pair Corr
0.51	GP	GreenPower Motor	Pair Corr
0.5	CW	Curtiss Wright	Pair Corr
0.5	IR	Ingersoll Rand	Pair Corr
0.46	KE	Kimball Electronics	Pair Corr
0.38	J	Jacobs Solutions	Pair Corr
0.35	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	GATX	MGRC	ALTG	R	CTOS	AAN	PRG	MPU	FTAIM	HRI
GATX		0.82	0.38	0.49	0.38	0.0	0.12	-0.13	-0.53	0.3	GATX
MGRC	0.82		0.4	0.57	0.25	0.0	0.06	-0.12	-0.69	0.32	MGRC
ALTG	0.38	0.4		0.7	0.57	0.0	0.89	0.66	-0.55	0.97	ALTG
R	0.49	0.57	0.7		0.18	0.0	0.55	0.53	-0.38	0.68	R
CTOS	0.38	0.25	0.57	0.18		0.0	0.5	0.2	-0.47	0.54	CTOS
AAN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AAN
PRG	0.12	0.06	0.89	0.55	0.5	0.0		0.79	-0.39	0.94	PRG
MPU	-0.13	-0.12	0.66	0.53	0.2	0.0	0.79		-0.05	0.72	MPU
FTAIM	-0.53	-0.69	-0.55	-0.38	-0.47	0.0	-0.39	-0.05		-0.55	FTAIM
HRI	0.3	0.32	0.97	0.68	0.54	0.0	0.94	0.72	-0.55		HRI
	GATX	MGRC	ALTG	R	CTOS	AAN	PRG	MPU	FTAIM	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
PRG	+ 0.89	ALTG
MGRC	+ 0.82	GATX
MPU	+ 0.79	PRG
HRI	+ 0.72	MPU

High negative correlations

FTAIM	- 0.69	MGRC
HRI	- 0.55	FTAIM
FTAIM	- 0.55	ALTG
FTAIM	- 0.53	GATX
FTAIM	- 0.47	CTOS
FTAIM	- 0.39	PRG

Risk-Adjusted Indicators

There is a big difference between HEES Stock performing well and HE Equipment 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 HE Equipment'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
GATX	1.05	(0.01)	0.00	(0.04)	0.00	0.00	2.11	(1.90)	7.23
MGRC	1.19	0.01	0.00	(0.02)	0.00	0.00	2.75	(2.53)	7.16
ALTG	3.17	(0.38)	0.00	(0.21)	0.00	0.00	6.91	(6.29)	15.90
R	1.38	(0.13)	0.00	(0.16)	0.00	0.00	3.03	(3.31)	8.98
CTOS	2.75	0.12	0.02	0.02	3.08	(3.18)	6.13	(5.54)	23.60
AAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRG	2.13	(0.56)	0.00	(0.70)	0.00	0.00	3.12	(4.44)	31.87
MPU	5.08	(1.17)	0.00	(0.79)	0.00	0.00	10.53	(11.11)	36.15
FTAIM	0.64	(0.03)	0.00	(0.26)	0.00	0.00	1.39	(1.66)	4.47
HRI	2.51	(0.40)	0.00	(0.30)	0.00	0.00	3.70	(6.02)	17.97

HE Equipment Corporate Executives

Elected by the shareholders, the HE Equipment's board of directors comprises two types of representatives: HE Equipment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HEES. The board's role is to monitor HE Equipment's management team and ensure that shareholders' interests are well served. HE Equipment's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, HE Equipment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Leslie CPA	CFO Secretary	Profile
Leslie Magee	CFO, Principal Accounting Officer and Secretary	Profile
Bradley Barber	Pres and COO	Profile

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