Hertz Global Correlations

HTZ Stock

USD 3.89 0.23 6.28%

The current 90-days correlation between Hertz Global Holdings and United Rentals is 0.27 (i.e., Modest diversification). The correlation of Hertz Global 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.

Hertz Global Correlation With Market

Modest diversification

The correlation between Hertz Global Holdings and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hertz Global Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hertz Global Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Hertz Stock

0.69	AL	Air Lease	Pair Corr
0.76	CAR	Avis Budget Group	Pair Corr
0.66	HTZWW	Hertz Global Hldgs	Pair Corr

Moving against Hertz Stock

0.36	FC	Franklin Covey	Pair Corr
0.35	HY	Hyster Yale Materials	Pair Corr
0.34	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.31	CP	Canadian Pacific Railway	Pair Corr

Related Correlations Analysis

	URI	R	HRI	HTZWW	AL	HEES	GATX	MGRC	ALTG	CTOS
URI		0.83	0.82	-0.36	0.56	0.88	0.48	0.64	0.41	0.2	URI
R	0.83		0.79	-0.09	0.83	0.86	0.78	0.78	0.71	0.62	R
HRI	0.82	0.79		-0.47	0.65	0.93	0.72	0.87	0.58	0.49	HRI
HTZWW	-0.36	-0.09	-0.47		0.23	-0.31	0.08	-0.32	0.12	0.26	HTZWW
AL	0.56	0.83	0.65	0.23		0.71	0.89	0.72	0.83	0.84	AL
HEES	0.88	0.86	0.93	-0.31	0.71		0.71	0.82	0.59	0.47	HEES
GATX	0.48	0.78	0.72	0.08	0.89	0.71		0.78	0.84	0.89	GATX
MGRC	0.64	0.78	0.87	-0.32	0.72	0.82	0.78		0.67	0.68	MGRC
ALTG	0.41	0.71	0.58	0.12	0.83	0.59	0.84	0.67		0.82	ALTG
CTOS	0.2	0.62	0.49	0.26	0.84	0.47	0.89	0.68	0.82		CTOS
	URI	R	HRI	HTZWW	AL	HEES	GATX	MGRC	ALTG	CTOS

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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

HEES	+ 0.93	HRI
GATX	+ 0.89	AL
CTOS	+ 0.89	GATX
HEES	+ 0.88	URI
MGRC	+ 0.87	HRI
HEES	+ 0.86	R

High negative correlations

HTZWW	- 0.47	HRI
HTZWW	- 0.36	URI
MGRC	- 0.32	HTZWW
HEES	- 0.31	HTZWW
HTZWW	- 0.09	R

Risk-Adjusted Indicators

There is a big difference between Hertz Stock performing well and Hertz Global 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 Hertz Global'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
URI	1.40	0.04	0.09	0.11	1.24	(1.80)	2.67	(2.03)	12.35
R	1.43	0.11	0.10	0.15	1.45	(1.55)	3.32	(2.64)	7.72
HRI	2.12	0.54	0.37	0.33	1.14	(2.61)	6.47	(2.36)	20.05
HTZWW	3.10	(0.25)	0.00	(0.10)	0.00	0.00	6.22	(6.57)	17.17
AL	1.21	(0.02)	0.02	0.07	1.36	(1.41)	2.70	(2.41)	7.58
HEES	1.77	0.10	0.10	0.13	2.06	(1.88)	3.36	(3.22)	15.53
GATX	1.05	0.06	0.07	0.13	0.99	(1.19)	2.45	(1.44)	8.69
MGRC	1.38	0.11	0.05	0.22	1.55	(1.41)	3.07	(3.05)	11.62
ALTG	3.19	0.12	0.08	0.12	3.66	(3.60)	6.88	(5.48)	25.52
CTOS	2.57	0.06	0.06	0.11	2.71	(2.84)	8.57	(4.61)	17.86

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