Terex Correlations

TEX Stock

USD 54.79 0.52 0.96%

The current 90-days correlation between Terex and Oshkosh is 0.86 (i.e., Very poor diversification). The correlation of Terex 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.

Terex Correlation With Market

Poor diversification

The correlation between Terex and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Terex and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Terex. 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.

For more information on how to buy Terex Stock please use our How to Invest in Terex guide.

Moving together with Terex Stock

0.63	MTW	Manitowoc	Pair Corr
0.65	OSK	Oshkosh	Pair Corr
0.65	REVG	Rev Group Fiscal Year End 11th of December 2024	Pair Corr

Moving against Terex Stock

0.31

CEADW

CEA Industries Warrant

Pair Corr

Related Correlations Analysis

	OSK	ASTE	HY	MNTX	MTW	WNC	PCAR	ALG	LNN	CMCO
OSK		0.9	-0.42	0.42	0.89	0.43	0.85	0.81	0.66	0.71	OSK
ASTE	0.9		-0.69	0.31	0.88	0.61	0.8	0.95	0.77	0.8	ASTE
HY	-0.42	-0.69		0.14	-0.45	-0.53	-0.34	-0.68	-0.47	-0.34	HY
MNTX	0.42	0.31	0.14		0.37	-0.05	0.62	0.31	0.42	0.5	MNTX
MTW	0.89	0.88	-0.45	0.37		0.61	0.75	0.78	0.67	0.75	MTW
WNC	0.43	0.61	-0.53	-0.05	0.61		0.19	0.67	0.62	0.43	WNC
PCAR	0.85	0.8	-0.34	0.62	0.75	0.19		0.71	0.55	0.79	PCAR
ALG	0.81	0.95	-0.68	0.31	0.78	0.67	0.71		0.81	0.77	ALG
LNN	0.66	0.77	-0.47	0.42	0.67	0.62	0.55	0.81		0.75	LNN
CMCO	0.71	0.8	-0.34	0.5	0.75	0.43	0.79	0.77	0.75		CMCO
	OSK	ASTE	HY	MNTX	MTW	WNC	PCAR	ALG	LNN	CMCO

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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

ALG	+ 0.95	ASTE
ASTE	+ 0.9	OSK
MTW	+ 0.89	OSK
MTW	+ 0.88	ASTE
PCAR	+ 0.85	OSK
ALG	+ 0.81	OSK

High negative correlations

HY	- 0.69	ASTE
ALG	- 0.68	HY
WNC	- 0.53	HY
LNN	- 0.47	HY
MTW	- 0.45	HY
HY	- 0.42	OSK

Risk-Adjusted Indicators

There is a big difference between Terex Stock performing well and Terex 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 Terex'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
OSK	1.52	(0.13)	0.00	0.06	1.86	(1.52)	2.78	(2.83)	12.69
ASTE	1.68	(0.11)	0.06	0.09	1.58	(2.09)	3.17	(2.27)	16.80
HY	1.88	(0.22)	0.00	(0.06)	0.00	0.00	3.61	(3.35)	20.12
MNTX	1.66	0.49	0.22	0.75	1.06	(2.75)	0.89	(1.58)	48.84
MTW	2.35	(0.25)	0.00	0.04	2.74	(2.73)	5.49	(4.10)	19.29
WNC	1.57	(0.14)	(0.03)	0.04	1.81	(1.64)	3.00	(2.92)	9.47
PCAR	1.26	0.14	0.14	0.23	1.14	(1.51)	3.32	(2.43)	10.18
ALG	1.44	(0.05)	0.02	0.10	1.48	(1.52)	2.41	(2.40)	12.98
LNN	1.43	(0.08)	0.00	0.08	1.62	(1.52)	2.52	(2.37)	13.76
CMCO	1.77	0.02	0.08	0.14	1.72	(1.95)	3.87	(2.70)	10.66

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