PACCAR Correlations

PCAR Stock

USD 116.18 0.36 0.31%

The current 90-days correlation between PACCAR Inc and CNH Industrial NV is -0.11 (i.e., Good diversification). The correlation of PACCAR 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.

PACCAR Correlation With Market

Poor diversification

The correlation between PACCAR Inc and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PACCAR Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PACCAR Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with PACCAR Stock

0.65	ALG	Alamo Group	Pair Corr
0.77	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.69	MTW	Manitowoc	Pair Corr
0.8	OSK	Oshkosh	Pair Corr
0.82	GENC	Gencor Industries	Pair Corr
0.65	MNTX	Manitex International	Pair Corr
0.75	ASTE	Astec Industries	Pair Corr
0.76	CMCO	Columbus McKinnon	Pair Corr
0.85	B	Barnes Group	Pair Corr
0.76	G	Genpact Limited	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.9	R	Ryder System	Pair Corr
0.73	AL	Air Lease	Pair Corr
0.89	AZ	A2Z Smart Technologies	Pair Corr
0.89	BR	Broadridge Financial	Pair Corr
0.79	BV	BrightView Holdings	Pair Corr

Moving against PACCAR Stock

0.84	LEV	Lion Electric Corp	Pair Corr
0.69	TWI	Titan International	Pair Corr
0.39	GP	GreenPower Motor	Pair Corr
0.86	NKLA	Nikola Corp	Pair Corr
0.72	ARTW	Arts Way Manufacturing	Pair Corr
0.46	CEAD	CEA Industries	Pair Corr
0.83	CP	Canadian Pacific Railway	Pair Corr
0.73	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.41	AP	Ampco Pittsburgh	Pair Corr
0.34	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	MTW	TEX	WNC	ALG	AGCO	OSK	HY	ASTE	MNTX	CNHI
MTW		0.63	0.6	0.77	0.04	0.89	-0.43	0.87	0.32	-0.38	MTW
TEX	0.63		0.38	0.38	0.26	0.65	0.19	0.41	0.23	-0.01	TEX
WNC	0.6	0.38		0.65	-0.41	0.39	-0.5	0.59	-0.11	-0.62	WNC
ALG	0.77	0.38	0.65		-0.11	0.78	-0.67	0.94	0.28	-0.62	ALG
AGCO	0.04	0.26	-0.41	-0.11		0.15	0.62	-0.1	0.68	0.52	AGCO
OSK	0.89	0.65	0.39	0.78	0.15		-0.39	0.89	0.37	-0.27	OSK
HY	-0.43	0.19	-0.5	-0.67	0.62	-0.39		-0.68	0.15	0.74	HY
ASTE	0.87	0.41	0.59	0.94	-0.1	0.89	-0.68		0.27	-0.57	ASTE
MNTX	0.32	0.23	-0.11	0.28	0.68	0.37	0.15	0.27		0.03	MNTX
CNHI	-0.38	-0.01	-0.62	-0.62	0.52	-0.27	0.74	-0.57	0.03		CNHI
	MTW	TEX	WNC	ALG	AGCO	OSK	HY	ASTE	MNTX	CNHI

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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

ASTE	+ 0.94	ALG
OSK	+ 0.89	MTW
ASTE	+ 0.89	OSK
ASTE	+ 0.87	MTW
OSK	+ 0.78	ALG
ALG	+ 0.77	MTW

High negative correlations

ASTE	- 0.68	HY
HY	- 0.67	ALG
CNHI	- 0.62	ALG
CNHI	- 0.62	WNC
CNHI	- 0.57	ASTE
HY	- 0.5	WNC

Risk-Adjusted Indicators

There is a big difference between PACCAR Stock performing well and PACCAR 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 PACCAR'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
MTW	2.37	(0.27)	(0.01)	0.03	2.75	(2.80)	5.49	(4.10)	19.29
TEX	1.91	(0.30)	0.00	(0.01)	0.00	0.00	4.13	(3.93)	16.23
WNC	1.57	(0.18)	(0.06)	0.01	1.82	(1.70)	3.00	(2.92)	9.47
ALG	1.46	(0.09)	(0.01)	0.07	1.51	(1.57)	2.41	(2.40)	12.83
AGCO	1.39	0.01	0.01	0.13	1.99	(1.36)	2.65	(2.75)	10.25
OSK	1.52	(0.14)	(0.01)	0.05	1.84	(1.54)	2.78	(2.83)	12.69
HY	1.91	(0.24)	0.00	(0.08)	0.00	0.00	3.61	(3.35)	20.12
ASTE	1.71	(0.14)	0.03	0.07	1.65	(2.13)	3.17	(2.45)	16.80
MNTX	1.66	0.46	0.21	0.68	1.13	(2.65)	0.89	(1.80)	48.84
CNHI	1.36	0.05	(0.06)	(0.06)	1.61	(1.63)	3.13	(2.33)	12.09

PACCAR Corporate Executives

Elected by the shareholders, the PACCAR's board of directors comprises two types of representatives: PACCAR inside directors who are chosen from within the company, and outside directors, selected externally and held independent of PACCAR. The board's role is to monitor PACCAR's management team and ensure that shareholders' interests are well served. PACCAR'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, PACCAR's outside directors are responsible for providing unbiased perspectives on the board's policies.

John Rich

SVP CTO

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