Transcat Correlations

TRNS Stock

USD 72.03 0.76 1.07%

The current 90-days correlation between Transcat and BlueLinx Holdings is 0.22 (i.e., Modest diversification). The correlation of Transcat 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.

Transcat Correlation With Market

Average diversification

The correlation between Transcat and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transcat 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 Transcat. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Transcat Stock

0.86	DSGR	Distribution Solutions	Pair Corr
0.69	BXC	BlueLinx Holdings	Pair Corr
0.66	GIC	Global Industrial	Pair Corr
0.73	GWW	WW Grainger	Pair Corr
0.81	REZI	Resideo Technologies	Pair Corr
0.63	J	Jacobs Solutions	Pair Corr
0.79	BV	BrightView Holdings	Pair Corr
0.88	BW	Babcock Wilcox Enter	Pair Corr
0.77	CW	Curtiss Wright	Pair Corr

Moving against Transcat Stock

0.91	WCC-PA	WESCO International	Pair Corr
0.83	G	Genpact Limited	Pair Corr
0.75	BECN	Beacon Roofing Supply	Pair Corr
0.62	DNOW	Now Inc	Pair Corr
0.56	TITN	Titan Machinery Earnings Call Today	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.78	DE	Deere Company	Pair Corr
0.76	EH	Ehang Holdings	Pair Corr
0.57	BR	Broadridge Financial	Pair Corr
0.48	CP	Canadian Pacific Railway	Pair Corr

Related Correlations Analysis

	BXC	SITE	DXPE	CNM	DSGR	GIC	AIT	POOL	FAST	MSM
BXC		0.81	0.17	0.7	0.86	0.86	0.72	0.44	0.08	0.33	BXC
SITE	0.81		0.45	0.82	0.56	0.79	0.83	0.61	0.29	0.65	SITE
DXPE	0.17	0.45		0.79	-0.27	-0.1	0.58	-0.16	-0.24	0.5	DXPE
CNM	0.7	0.82	0.79		0.31	0.47	0.84	0.21	-0.12	0.58	CNM
DSGR	0.86	0.56	-0.27	0.31		0.87	0.39	0.52	0.18	0.13	DSGR
GIC	0.86	0.79	-0.1	0.47	0.87		0.6	0.76	0.42	0.4	GIC
AIT	0.72	0.83	0.58	0.84	0.39	0.6		0.35	0.12	0.7	AIT
POOL	0.44	0.61	-0.16	0.21	0.52	0.76	0.35		0.77	0.46	POOL
FAST	0.08	0.29	-0.24	-0.12	0.18	0.42	0.12	0.77		0.5	FAST
MSM	0.33	0.65	0.5	0.58	0.13	0.4	0.7	0.46	0.5		MSM
	BXC	SITE	DXPE	CNM	DSGR	GIC	AIT	POOL	FAST	MSM

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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

GIC	+ 0.87	DSGR
DSGR	+ 0.86	BXC
GIC	+ 0.86	BXC
AIT	+ 0.84	CNM
AIT	+ 0.83	SITE
CNM	+ 0.82	SITE

High negative correlations

DSGR	- 0.27	DXPE
FAST	- 0.24	DXPE
POOL	- 0.16	DXPE
FAST	- 0.12	CNM
GIC	- 0.1	DXPE

Risk-Adjusted Indicators

There is a big difference between Transcat Stock performing well and Transcat 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 Transcat'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
BXC	1.97	(0.54)	0.00	(0.47)	0.00	0.00	3.47	(3.99)	14.89
SITE	1.59	(0.22)	0.00	(0.30)	0.00	0.00	3.12	(3.63)	8.22
DXPE	2.50	0.27	0.07	0.12	3.27	(2.52)	5.24	(5.28)	15.13
CNM	1.27	(0.09)	0.00	(0.18)	0.00	0.00	2.35	(2.77)	8.03
DSGR	1.66	(0.33)	0.00	(0.46)	0.00	0.00	3.58	(3.81)	13.85
GIC	1.26	(0.21)	0.00	(0.29)	0.00	0.00	2.18	(3.34)	7.35
AIT	1.33	(0.14)	0.00	(0.20)	0.00	0.00	2.41	(3.87)	10.46
POOL	1.31	(0.15)	0.00	(0.28)	0.00	0.00	2.38	(2.74)	9.46
FAST	1.04	(0.01)	0.00	(0.11)	0.00	0.00	2.13	(1.94)	7.58
MSM	1.36	(0.02)	0.00	(0.11)	0.00	0.00	3.33	(2.81)	7.60

Transcat Corporate Management

James JD	Corporate Officer	Profile
Scott Deverell	Principal Accounting Officer, Corporate Controller	Profile
Mark Doheny	Chief Officer	Profile
Thomas Barbato	Chief Officer	Profile
Theresa Conroy	Senior Resources	Profile

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