Ashtead Gro Correlations
| ASHTYDelisted Stock | USD 70.74 0.03 0.04% |
The current 90-days correlation between Ashtead Gro and Secom Co Ltd is -0.01 (i.e., Good diversification). The correlation of Ashtead Gro 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.
Ashtead Gro Correlation With Market
Very good diversification
The correlation between Ashtead Gro and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashtead Gro and DJI in the same portfolio, assuming nothing else is changed.
Ashtead |
The ability to find closely correlated positions to Ashtead Gro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ashtead Gro when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ashtead Gro - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ashtead Gro to buy it.
Moving against Ashtead Pink Sheet
| 0.6 | AER | AerCap Holdings NV | PairCorr |
| 0.46 | PPERY | Bank Mandiri Persero Normal Trading | PairCorr |
| 0.43 | FTAI | FTAI Aviation | PairCorr |
| 0.43 | SSNLF | Samsung Electronics | PairCorr |
| 0.41 | LZRFY | Localiza Rent A | PairCorr |
| 0.32 | URI | United Rentals | PairCorr |
| 0.5 | CVX | Chevron Corp | PairCorr |
| 0.49 | MDIBY | Mediobanca Banca Normal Trading | PairCorr |
| 0.48 | KO | Coca Cola | PairCorr |
| 0.47 | GIG | GigCapital7 Corp Class | PairCorr |
| 0.39 | ALL-PB | Allstate | PairCorr |
| 0.38 | LCCC | Lakeshore Acquisition III | PairCorr |
| 0.38 | GNTX | Gentex | PairCorr |
| 0.38 | 74432QCE3 | PRUDENTIAL FINANCIAL INC | PairCorr |
| 0.38 | PPCLY | PPC Ltd ADR | PairCorr |
| 0.37 | SOUHY | South32 ADR | PairCorr |
| 0.35 | CPA | Copa Holdings SA | PairCorr |
| 0.34 | HD | Home Depot Earnings Call Tomorrow | PairCorr |
| 0.34 | EQR | Equity Residential | PairCorr |
| 0.32 | AA | Alcoa Corp | PairCorr |
| 0.64 | DTE | DTE Energy Sell-off Trend | PairCorr |
| 0.62 | PHYTF | Pyrophyte Acquisition | PairCorr |
| 0.55 | BMRN | Biomarin Pharmaceutical Earnings Call This Week | PairCorr |
| 0.5 | PHXHF | PHX Energy Services Earnings Call Tomorrow | PairCorr |
| 0.46 | GLAPF | Glanbia plc Earnings Call This Week | PairCorr |
| 0.45 | 278865BJ8 | ECL 275 18 | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Ashtead Pink Sheet performing well and Ashtead Gro 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 Ashtead Gro'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SOMLY | 0.93 | 0.17 | 0.10 | 0.71 | 0.97 | 1.94 | 8.30 | |||
| LZRFY | 3.32 | 0.45 | 0.10 | 1.17 | 3.71 | 9.44 | 32.75 | |||
| BCVVF | 0.02 | 0.00 | 0.00 | 0.06 | 0.00 | 0.00 | 0.75 | |||
| SHMUY | 3.37 | 1.72 | 0.00 | (2.94) | 0.00 | 0.00 | 114.89 | |||
| KNCRF | 0.56 | 0.33 | 0.00 | (0.45) | 0.00 | 0.00 | 17.70 | |||
| FINGF | 1.32 | 0.32 | 0.13 | 0.64 | 1.50 | 2.94 | 8.64 | |||
| ELSSF | 0.47 | 0.18 | 0.00 | (0.36) | 0.00 | 0.00 | 7.64 | |||
| VLMTY | 0.33 | (0.18) | 0.00 | (5.21) | 0.00 | 0.00 | 11.11 | |||
| JPNRF | 7.16 | 1.32 | 0.14 | (1.66) | 6.43 | 31.17 | 47.14 | |||
| JDLGF | 1.75 | 0.16 | 0.00 | 0.38 | 0.00 | 0.00 | 52.99 |
Ashtead Gro Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Ashtead Gro pink sheet to make a market-neutral strategy. Peer analysis of Ashtead Gro could also be used in its relative valuation, which is a method of valuing Ashtead Gro by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Ashtead Gro Corporate Management
| John Washburn | SVP Marketing | Profile | |
| Rob Phillips | Chief Rentals | Profile | |
| Anthony Miller | Ex VP | Profile | |
| Eric Watkins | Legal Counsel and Company Secretary | Profile | |
| Will Shaw | Director Relations | Profile |
Still Interested in Ashtead Gro?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.