McGrath RentCorp Correlations

MGRC Stock

USD 113.41 1.23 1.07%

The current 90-days correlation between McGrath RentCorp and Alta Equipment Group is 0.45 (i.e., Very weak diversification). The correlation of McGrath RentCorp 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.

McGrath RentCorp Correlation With Market

Weak diversification

The correlation between McGrath RentCorp and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding McGrath RentCorp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in McGrath RentCorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade McGrath Stock refer to our How to Trade McGrath Stock guide.

Moving together with McGrath Stock

0.69	HTZ	Hertz Global Holdings	Pair Corr
0.82	GATX	GATX	Pair Corr
0.63	WSC	Willscot Mobile Mini	Pair Corr
0.7	HTZWW	Hertz Global Hldgs	Pair Corr
0.63	UHAL	U Haul Holding	Pair Corr

Moving against McGrath Stock

0.71	FTAIM	FTAI Aviation	Pair Corr
0.53	EHGO	Eshallgo Class A	Pair Corr
0.53	FTAIN	Fortress Transportation	Pair Corr
0.5	GD	General Dynamics	Pair Corr

Related Correlations Analysis

	ALTG	GATX	MPU	FTAIM	CTOS	HRI	AAN	PRG	HEES
ALTG		0.39	0.29	-0.61	0.6	0.97	0.0	0.89	-0.22	ALTG
GATX	0.39		-0.21	-0.57	0.39	0.31	0.0	0.14	0.49	GATX
MPU	0.29	-0.21		-0.09	0.11	0.38	0.0	0.39	-0.42	MPU
FTAIM	-0.61	-0.57	-0.09		-0.56	-0.61	0.0	-0.46	-0.39	FTAIM
CTOS	0.6	0.39	0.11	-0.56		0.56	0.0	0.52	0.08	CTOS
HRI	0.97	0.31	0.38	-0.61	0.56		0.0	0.94	-0.32	HRI
AAN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AAN
PRG	0.89	0.14	0.39	-0.46	0.52	0.94	0.0		-0.51	PRG
HEES	-0.22	0.49	-0.42	-0.39	0.08	-0.32	0.0	-0.51		HEES
	ALTG	GATX	MPU	FTAIM	CTOS	HRI	AAN	PRG	HEES

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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
PRG	+ 0.94	HRI
PRG	+ 0.89	ALTG
CTOS	+ 0.6	ALTG
HRI	+ 0.56	CTOS
PRG	+ 0.52	CTOS

High negative correlations

HRI	- 0.61	FTAIM
FTAIM	- 0.61	ALTG
FTAIM	- 0.57	GATX
CTOS	- 0.56	FTAIM
HEES	- 0.51	PRG
PRG	- 0.46	FTAIM

Risk-Adjusted Indicators

There is a big difference between McGrath Stock performing well and McGrath RentCorp 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 McGrath RentCorp'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
ALTG	3.25	(0.22)	0.00	(0.17)	0.00	0.00	6.91	(6.25)	15.90
GATX	1.00	0.06	0.06	0.00	1.11	(1.12)	2.11	(1.83)	7.23
MPU	5.03	(1.19)	0.00	(0.95)	0.00	0.00	10.53	(11.11)	36.15
FTAIM	0.64	(0.01)	0.00	(0.14)	0.00	0.00	1.39	(1.52)	4.47
CTOS	2.66	0.21	0.05	0.04	2.97	(3.16)	5.46	(5.54)	23.60
HRI	2.49	(0.42)	0.00	(0.39)	0.00	0.00	3.46	(6.02)	17.97
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
HEES	3.92	1.78	1.39	1.07	0.00	(5.78)	1.53	(1.89)	107.70

McGrath RentCorp Corporate Management

Gilda JD	General VP	Profile
Kristina TreaseWhitney	Senior Development	Profile
David CPA	Senior Officer	Profile
Tara Wescott	Vice Resources	Profile

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