Custom Truck Correlations

CTOS Stock

USD 7.39 0.10 1.34%

The current 90-days correlation between Custom Truck One and Hertz Global Holdings is 0.25 (i.e., Modest diversification). The correlation of Custom Truck 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.

Custom Truck Correlation With Market

Poor diversification

The correlation between Custom Truck One and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Custom Truck One and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Custom Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Custom Truck One. 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.

Moving together with Custom Stock

0.79	AL	Air Lease Sell-off Trend	Pair Corr
0.77	DSGR	Distribution Solutions Earnings Call This Week	Pair Corr
0.78	RXL	Rexel SA	Pair Corr
0.84	DXPE	DXP Enterprises Earnings Call This Week	Pair Corr
0.72	VSTS	Vestis	Pair Corr
0.79	0HIT	Iberdrola	Pair Corr
0.8	WLFC	Willis Lease Finance	Pair Corr
0.8	FAST	Fastenal	Pair Corr
0.75	FERG	Ferguson Plc	Pair Corr
0.86	WSO-B	Watsco Inc	Pair Corr
0.61	AER	AerCap Holdings NV	Pair Corr
0.76	AIT	Applied Industrial	Pair Corr
0.64	FZG1	BLUELINX HLDGS DL	Pair Corr
0.67	BXC	BlueLinx Holdings	Pair Corr
0.71	GIC	Global Industrial	Pair Corr
0.71	FTAI	FTAI Aviation	Pair Corr
0.75	GWW	WW Grainger	Pair Corr
0.77	MSM	MSC Industrial Direct	Pair Corr
0.85	WC3	Watsco Inc	Pair Corr
0.63	RUS	Russel Metals	Pair Corr
0.79	FAS	Fastenal	Pair Corr
0.7	QXO	QXO Inc	Pair Corr

Moving against Custom Stock

0.78	CAI	Caris Life Sciences Earnings Call Today	Pair Corr
0.76	MSI	Multistack International	Pair Corr
0.54	FPR	Fleetpartners Group	Pair Corr
0.46	61F	ELEMENT FLEET MGMT	Pair Corr
0.74	CUCA	Avis Budget Group	Pair Corr
0.71	IPW	iPower Inc	Pair Corr
0.7	SIX2	Sixt SE	Pair Corr
0.66	OEA1	OEM INTERN B	Pair Corr
0.63	IGC	India Globalization	Pair Corr
0.59	AA4	Amedeo Air Four	Pair Corr
0.58	HNG	Hancock Gore	Pair Corr

Related Correlations Analysis

	HTZ	MAN	PRG	ALTG	EVLV	CMRE	GBX	WLDN	EVEX	CRAI
HTZ		0.24	-0.35	-0.19	0.57	-0.24	-0.33	0.3	0.56	0.71	HTZ
MAN	0.24		0.23	0.47	-0.07	0.29	0.27	0.44	-0.1	0.19	MAN
PRG	-0.35	0.23		0.85	-0.64	0.76	0.92	0.51	-0.6	-0.38	PRG
ALTG	-0.19	0.47	0.85		-0.6	0.76	0.88	0.68	-0.56	-0.33	ALTG
EVLV	0.57	-0.07	-0.64	-0.6		-0.41	-0.65	-0.09	0.84	0.8	EVLV
CMRE	-0.24	0.29	0.76	0.76	-0.41		0.8	0.58	-0.42	-0.33	CMRE
GBX	-0.33	0.27	0.92	0.88	-0.65	0.8		0.46	-0.69	-0.46	GBX
WLDN	0.3	0.44	0.51	0.68	-0.09	0.58	0.46		-0.04	0.27	WLDN
EVEX	0.56	-0.1	-0.6	-0.56	0.84	-0.42	-0.69	-0.04		0.79	EVEX
CRAI	0.71	0.19	-0.38	-0.33	0.8	-0.33	-0.46	0.27	0.79		CRAI
	HTZ	MAN	PRG	ALTG	EVLV	CMRE	GBX	WLDN	EVEX	CRAI

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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

GBX	+ 0.92	PRG
GBX	+ 0.88	ALTG
ALTG	+ 0.85	PRG
EVEX	+ 0.84	EVLV
CRAI	+ 0.8	EVLV
GBX	+ 0.8	CMRE

High negative correlations

EVEX	- 0.69	GBX
GBX	- 0.65	EVLV
EVLV	- 0.64	PRG
EVLV	- 0.6	ALTG
EVEX	- 0.6	PRG
EVEX	- 0.56	ALTG

Risk-Adjusted Indicators

There is a big difference between Custom Stock performing well and Custom Truck 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 Custom Truck'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
HTZ	2.77	(0.41)	0.00	(0.06)	0.00	0.00	7.63	(5.14)	23.15
MAN	2.53	(0.16)	(0.02)	0.01	3.43	(2.63)	5.55	(5.80)	24.70
PRG	1.76	0.45	0.23	0.57	1.41	(1.99)	5.04	(2.58)	17.63
ALTG	2.45	0.76	0.21	(3.50)	2.23	(2.66)	7.06	(4.73)	15.56
EVLV	2.60	(0.25)	0.00	(0.10)	0.00	0.00	4.95	(5.23)	16.47
CMRE	1.52	0.15	0.06	0.28	1.91	(1.58)	3.17	(2.62)	10.48
GBX	1.25	0.45	0.17	0.81	1.76	(1.42)	3.10	(1.28)	15.69
WLDN	2.50	0.16	0.07	0.18	3.31	(2.72)	5.21	(4.28)	18.22
EVEX	2.71	(0.49)	0.00	(0.18)	0.00	0.00	5.46	(5.65)	25.14
CRAI	1.97	(0.23)	0.00	(0.06)	0.00	0.00	3.15	(5.64)	13.34

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