Custom Truck Correlations

CTOS Stock

USD 5.80 0.04 0.69%

The current 90-days correlation between Custom Truck One and Hertz Global Holdings is 0.07 (i.e., Significant 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

Significant diversification

The correlation between Custom Truck One and DJI is 0.07 (i.e., Significant 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

0.61

URI

United Rentals

Pair Corr

Moving against Custom Stock

0.59	BKRKY	Bank Rakyat	Pair Corr
0.48	PBCRY	Bank Central Asia	Pair Corr
0.43	PPERY	Bank Mandiri Persero	Pair Corr
0.38	TLK	Telkom Indonesia Tbk	Pair Corr
0.42	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.42	CSCO	Cisco Systems	Pair Corr
0.41	DD	Dupont De Nemours	Pair Corr
0.34	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	HTZ	MAN	PRG	ALTG	EVLV	CMRE	GBX	WLDN	EVEX	CRAI
HTZ		0.05	-0.31	0.14	0.11	-0.17	-0.38	-0.37	-0.04	-0.14	HTZ
MAN	0.05		0.64	0.8	0.8	-0.75	0.2	-0.21	0.46	-0.07	MAN
PRG	-0.31	0.64		0.58	0.66	-0.31	0.68	0.32	0.6	0.37	PRG
ALTG	0.14	0.8	0.58		0.89	-0.86	-0.02	-0.41	0.4	-0.16	ALTG
EVLV	0.11	0.8	0.66	0.89		-0.79	0.12	-0.21	0.46	0.04	EVLV
CMRE	-0.17	-0.75	-0.31	-0.86	-0.79		0.36	0.65	-0.1	0.46	CMRE
GBX	-0.38	0.2	0.68	-0.02	0.12	0.36		0.79	0.49	0.68	GBX
WLDN	-0.37	-0.21	0.32	-0.41	-0.21	0.65	0.79		0.23	0.8	WLDN
EVEX	-0.04	0.46	0.6	0.4	0.46	-0.1	0.49	0.23		0.31	EVEX
CRAI	-0.14	-0.07	0.37	-0.16	0.04	0.46	0.68	0.8	0.31		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

EVLV	+ 0.89	ALTG
ALTG	+ 0.8	MAN
EVLV	+ 0.8	MAN
CRAI	+ 0.8	WLDN
WLDN	+ 0.79	GBX
GBX	+ 0.68	PRG

High negative correlations

CMRE	- 0.86	ALTG
CMRE	- 0.79	EVLV
CMRE	- 0.75	MAN
WLDN	- 0.41	ALTG
GBX	- 0.38	HTZ
WLDN	- 0.37	HTZ

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	3.36	0.09	(0.01)	(0.07)	3.73	(4.13)	4.95	(6.90)	43.57
MAN	1.68	(0.34)	0.00	(3.37)	0.00	0.00	3.27	(3.96)	8.83
PRG	1.51	(0.04)	0.00	(0.32)	0.00	0.00	3.07	(2.64)	8.53
ALTG	2.76	(0.31)	0.00	(0.55)	0.00	0.00	6.44	(4.75)	14.16
EVLV	2.69	0.02	(0.01)	0.25	3.31	(2.96)	5.24	(5.24)	17.04
CMRE	1.42	0.49	0.25	(3.47)	1.23	(1.70)	3.53	(2.44)	7.95
GBX	1.08	0.12	0.01	(0.29)	1.61	(1.16)	2.45	(1.94)	9.94
WLDN	2.51	0.40	0.08	(0.32)	2.86	(2.96)	5.21	(4.25)	15.53
EVEX	2.92	(0.02)	0.00	0.57	0.00	0.00	5.71	(6.87)	19.07
CRAI	1.45	0.18	0.06	2.34	1.67	(1.61)	3.13	(2.54)	8.17

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