United Rentals Correlations

URI Stock

USD 614.94 15.75 2.50%

The current 90-days correlation between United Rentals and Ryder System is 0.57 (i.e., Very weak diversification). The correlation of United Rentals 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.

United Rentals Correlation With Market

Very weak diversification

The correlation between United Rentals and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Rentals 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 United Rentals. 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 more detail on how to invest in United Stock please use our How to Invest in United Rentals guide.

Moving together with United Stock

0.66	R	Ryder System	Pair Corr
0.8	VSTS	Vestis	Pair Corr
0.81	CAR	Avis Budget Group	Pair Corr
0.96	HRI	Herc Holdings	Pair Corr
0.69	MPU	Mega Matrix Corp	Pair Corr
0.89	PRG	PROG Holdings	Pair Corr
0.84	WSC	Willscot Mobile Mini	Pair Corr
0.66	ZCAR	Zoomcar Holdings	Pair Corr
0.67	TRTN-PE	Triton International	Pair Corr
0.94	ALTG	Alta Equipment Group Downward Rally	Pair Corr
0.73	UHAL	U Haul Holding	Pair Corr
0.69	CTOS	Custom Truck One	Pair Corr
0.91	J	Jacobs Solutions	Pair Corr
0.85	BV	BrightView Holdings	Pair Corr

Moving against United Stock

0.61	TRTN-PB	Triton International	Pair Corr
0.6	FTAIM	FTAI Aviation	Pair Corr
0.6	FTAIN	Fortress Transportation	Pair Corr
0.54	AER	AerCap Holdings NV	Pair Corr
0.54	TRTN-PA	Triton International	Pair Corr
0.5	MWG	Multi Ways Holdings	Pair Corr
0.63	BZ	Kanzhun Ltd ADR	Pair Corr
0.6	PC	Premium Catering	Pair Corr
0.56	EH	Ehang Holdings Downward Rally	Pair Corr
0.42	LZ	LegalZoom	Pair Corr

Related Correlations Analysis

	HEES	GATX	MGRC	ALTG	R	HTZ	HRI	HTZWW	AL	AAN
HEES		0.44	0.59	-0.26	-0.04	0.53	-0.36	0.38	-0.32	0.0	HEES
GATX	0.44		0.82	0.39	0.51	0.68	0.31	0.69	0.2	0.0	GATX
MGRC	0.59	0.82		0.39	0.58	0.71	0.31	0.7	0.14	0.0	MGRC
ALTG	-0.26	0.39	0.39		0.68	0.25	0.97	0.41	0.39	0.0	ALTG
R	-0.04	0.51	0.58	0.68		0.51	0.66	0.57	0.53	0.0	R
HTZ	0.53	0.68	0.71	0.25	0.51		0.18	0.95	0.05	0.0	HTZ
HRI	-0.36	0.31	0.31	0.97	0.66	0.18		0.35	0.29	0.0	HRI
HTZWW	0.38	0.69	0.7	0.41	0.57	0.95	0.35		0.1	0.0	HTZWW
AL	-0.32	0.2	0.14	0.39	0.53	0.05	0.29	0.1		0.0	AL
AAN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AAN
	HEES	GATX	MGRC	ALTG	R	HTZ	HRI	HTZWW	AL	AAN

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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
HTZWW	+ 0.95	HTZ
MGRC	+ 0.82	GATX
HTZ	+ 0.71	MGRC
HTZWW	+ 0.7	MGRC
HTZWW	+ 0.69	GATX

High negative correlations

HRI	- 0.36	HEES
AL	- 0.32	HEES
ALTG	- 0.26	HEES
R	- 0.04	HEES
AAN	- 0.0	AL
AAN	- 0.0	HTZWW

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Rentals 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 United Rentals' 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
HEES	3.61	1.44	0.81	0.74	0.85	(5.80)	1.53	(3.34)	107.70
GATX	1.04	0.00	0.00	(0.08)	0.00	0.00	2.11	(1.90)	7.23
MGRC	1.15	0.00	0.00	(0.07)	0.00	0.00	2.75	(2.53)	7.16
ALTG	3.05	(0.21)	0.00	(0.17)	0.00	0.00	6.91	(6.29)	15.90
R	1.36	(0.15)	0.00	(0.22)	0.00	0.00	3.03	(3.31)	8.98
HTZ	3.42	(0.03)	0.00	(0.09)	0.00	0.00	6.57	(8.45)	22.41
HRI	2.44	(0.54)	0.00	(0.45)	0.00	0.00	3.46	(6.02)	17.97
HTZWW	3.14	(0.09)	0.00	(0.12)	0.00	0.00	6.97	(7.73)	22.89
AL	1.46	0.04	0.00	(0.04)	0.00	0.00	2.33	(4.14)	12.57
AAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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