Titan Machinery Correlations

TITN Stock

USD 17.05 0.42 2.53%

The current 90-days correlation between Titan Machinery and DXP Enterprises is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Titan Machinery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Titan Machinery moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Titan Machinery Correlation With Market

Very weak diversification

The correlation between Titan Machinery and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Titan Machinery 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 Titan Machinery. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in Titan Stock, please use our How to Invest in Titan Machinery guide.

Moving together with Titan Stock

0.63	DNOW	Now Inc	Pair Corr
0.72	DXPE	DXP Enterprises	Pair Corr
0.72	BECN	Beacon Roofing Supply Sell-off Trend	Pair Corr
0.76	CP	Canadian Pacific Railway	Pair Corr
0.9	CR	Crane Company	Pair Corr
0.68	DE	Deere Company	Pair Corr
0.77	GE	GE Aerospace	Pair Corr

Moving against Titan Stock

0.5	TRNS	Transcat	Pair Corr
0.42	DSGR	Distribution Solutions	Pair Corr
0.59	GD	General Dynamics	Pair Corr
0.4	NL	NL Industries	Pair Corr
0.31	NX	Quanex Building Products	Pair Corr

Related Correlations Analysis

	DXPE	WSO	DSGR	SITE	GIC	CNM	AIT	MSM	BXC	FERG
DXPE		-0.22	-0.16	0.53	0.01	0.79	0.61	0.55	0.3	0.4	DXPE
WSO	-0.22		-0.2	0.03	0.07	-0.26	-0.13	0.27	-0.3	-0.07	WSO
DSGR	-0.16	-0.2		0.49	0.82	0.31	0.32	0.02	0.82	0.46	DSGR
SITE	0.53	0.03	0.49		0.78	0.85	0.83	0.62	0.8	0.85	SITE
GIC	0.01	0.07	0.82	0.78		0.52	0.58	0.34	0.85	0.74	GIC
CNM	0.79	-0.26	0.31	0.85	0.52		0.86	0.58	0.74	0.8	CNM
AIT	0.61	-0.13	0.32	0.83	0.58	0.86		0.67	0.71	0.9	AIT
MSM	0.55	0.27	0.02	0.62	0.34	0.58	0.67		0.29	0.54	MSM
BXC	0.3	-0.3	0.82	0.8	0.85	0.74	0.71	0.29		0.77	BXC
FERG	0.4	-0.07	0.46	0.85	0.74	0.8	0.9	0.54	0.77		FERG
	DXPE	WSO	DSGR	SITE	GIC	CNM	AIT	MSM	BXC	FERG

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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

FERG	+ 0.9	AIT
AIT	+ 0.86	CNM
CNM	+ 0.85	SITE
FERG	+ 0.85	SITE
BXC	+ 0.85	GIC
AIT	+ 0.83	SITE

High negative correlations

BXC	- 0.3	WSO
CNM	- 0.26	WSO
WSO	- 0.22	DXPE
DSGR	- 0.2	WSO
DSGR	- 0.16	DXPE
AIT	- 0.13	WSO

Risk-Adjusted Indicators

There is a big difference between Titan Stock performing well and Titan Machinery 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 Titan Machinery'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
DXPE	2.55	0.27	0.07	0.13	3.28	(2.59)	5.24	(5.28)	15.13
WSO	1.26	(0.01)	0.05	0.00	1.50	(1.44)	2.74	(2.89)	13.32
DSGR	1.70	(0.36)	0.00	(0.47)	0.00	0.00	3.58	(3.81)	13.85
SITE	1.56	(0.27)	0.00	2.52	0.00	0.00	3.12	(3.42)	8.22
GIC	1.29	(0.30)	0.00	0.96	0.00	0.00	2.18	(3.34)	7.35
CNM	1.24	(0.12)	0.00	(6.13)	0.00	0.00	2.53	(2.77)	8.03
AIT	1.38	(0.25)	0.00	1.14	0.00	0.00	2.59	(3.87)	10.46
MSM	1.38	(0.07)	0.00	0.98	0.00	0.00	3.33	(2.81)	7.60
BXC	1.96	(0.62)	0.00	7.70	0.00	0.00	3.47	(3.99)	14.89
FERG	1.36	(0.23)	0.00	(1.82)	0.00	0.00	2.44	(2.80)	8.55

Titan Machinery Corporate Management

Robert Larsen	CFO Treasurer	Profile
Ray Ochsner	Chief Officer	Profile
Jeff Bowman	Chief Officer	Profile
Jason Anderson	Vice Administration	Profile

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