Hertz Global Correlations

HTZWW Stock

USD 2.05 0.11 5.67%

The current 90-days correlation between Hertz Global Hldgs and Hertz Global Holdings is 0.93 (i.e., Almost no diversification). The correlation of Hertz Global 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.

Hertz Global Correlation With Market

Very weak diversification

The correlation between Hertz Global Hldgs and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hertz Global Hldgs 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 Hertz Global Hldgs. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Hertz Stock

0.64	CAR	Avis Budget Group	Pair Corr
0.96	HTZ	Hertz Global Holdings	Pair Corr
0.69	GATX	GATX	Pair Corr
0.71	MGRC	McGrath RentCorp	Pair Corr
0.68	UHAL	U Haul Holding	Pair Corr
0.77	CP	Canadian Pacific Railway	Pair Corr

Moving against Hertz Stock

0.55	FTAIN	Fortress Transportation	Pair Corr
0.5	FTAIM	FTAI Aviation	Pair Corr
0.36	GD	General Dynamics	Pair Corr

Related Correlations Analysis

	HTZ	CAR	HRI	DWACW	ULCC
HTZ		0.56	0.21	0.0	0.64	HTZ
CAR	0.56		0.84	0.0	0.79	CAR
HRI	0.21	0.84		0.0	0.7	HRI
DWACW	0.0	0.0	0.0		0.0	DWACW
ULCC	0.64	0.79	0.7	0.0		ULCC
	HTZ	CAR	HRI	DWACW	ULCC

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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	+ 0.84	CAR
ULCC	+ 0.79	CAR
ULCC	+ 0.7	HRI
ULCC	+ 0.64	HTZ
CAR	+ 0.56	HTZ
HRI	+ 0.21	HTZ

High negative correlations

ULCC	- 0.0	DWACW
DWACW	- 0.0	HRI
DWACW	- 0.0	CAR
DWACW	- 0.0	HTZ

Risk-Adjusted Indicators

There is a big difference between Hertz Stock performing well and Hertz Global 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 Hertz Global'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
HTZ	3.52	(0.04)	(0.09)	6.57	(8.45)	22.41
CAR	2.83	(0.43)	(0.28)	4.71	(6.82)	17.75
HRI	2.48	(0.50)	(0.41)	3.46	(6.02)	17.97
DWACW	0.00	0.00	0.00	0.00	0.00	0.00
ULCC	3.46	(0.06)	(0.12)	5.58	(7.38)	24.49

Hertz Global Corporate Management

Colleen Batcheler	General VP	Profile
Timothy LangleyHawthorne	Executive Officer	Profile
Robert Barton	Senior Operations	Profile
Kelly Galloway	Senior Officer	Profile
Wayne Davis	Executive Officer	Profile

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