PACCAR Correlations

PCAR Stock

USD 112.92 1.36 1.22%

The current 90-days correlation between PACCAR Inc and Roper Technologies is 0.19 (i.e., Average diversification). The correlation of PACCAR 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.

PACCAR Correlation With Market

Very weak diversification

The correlation between PACCAR Inc and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PACCAR Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with PACCAR Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PACCAR Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with PACCAR Stock

0.66	600984	Shaanxi Construction	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.77	300818	Jiangxi Naipu Mining	Pair Corr
0.93	PLOW	Douglas Dynamics	Pair Corr
0.71	300099	Uroica Mining Safety	Pair Corr
0.74	FINN	First National	Pair Corr
0.76	TMSNY	Temenos Group AG	Pair Corr
0.66	EDRVY	EDP Renovveis SA	Pair Corr
0.97	SYF	Synchrony Financial	Pair Corr
0.7	PLTK	Playtika Holding Corp	Pair Corr
0.79	NAUFF	NevGold Corp	Pair Corr
0.75	SMXWW	SMX Public Limited	Pair Corr

Moving against PACCAR Stock

0.81	002526	Shandong Mining Machinery	Pair Corr
0.8	002480	Chengdu Xinzhu RoadBridge	Pair Corr
0.7	ALH	Alliance Laundry Holdings	Pair Corr
0.68	CTDD	Qwest Corp 6	Pair Corr
0.66	WPRT	Westport Fuel Systems	Pair Corr
0.65	000920	Vontron Technology	Pair Corr
0.62	000880	Weichai Heavy Machinery	Pair Corr
0.59	CTBB	Qwest Corp NT	Pair Corr
0.36	TKURF	Tokyu REIT	Pair Corr
0.35	300210	Anshan Senyuan Road	Pair Corr
0.47	SKM	SK Telecom	Pair Corr

Related Correlations Analysis

	ROP	URI	CMI	AME	FERG	LHX	CARR	GWW	SYM	CNI
ROP		0.93	-0.73	-0.76	-0.16	0.35	0.61	-0.23	0.14	-0.19	ROP
URI	0.93		-0.77	-0.71	-0.09	0.46	0.75	-0.23	0.29	-0.21	URI
CMI	-0.73	-0.77		0.86	-0.24	-0.15	-0.74	0.58	-0.32	0.6	CMI
AME	-0.76	-0.71	0.86		-0.22	0.01	-0.58	0.68	-0.19	0.63	AME
FERG	-0.16	-0.09	-0.24	-0.22		-0.4	0.28	-0.58	0.5	-0.39	FERG
LHX	0.35	0.46	-0.15	0.01	-0.4		0.38	0.24	-0.11	0.3	LHX
CARR	0.61	0.75	-0.74	-0.58	0.28	0.38		-0.28	0.55	-0.3	CARR
GWW	-0.23	-0.23	0.58	0.68	-0.58	0.24	-0.28		-0.24	0.78	GWW
SYM	0.14	0.29	-0.32	-0.19	0.5	-0.11	0.55	-0.24		-0.26	SYM
CNI	-0.19	-0.21	0.6	0.63	-0.39	0.3	-0.3	0.78	-0.26		CNI
	ROP	URI	CMI	AME	FERG	LHX	CARR	GWW	SYM	CNI

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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

URI	+ 0.93	ROP
AME	+ 0.86	CMI
CNI	+ 0.78	GWW
CARR	+ 0.75	URI
GWW	+ 0.68	AME
CNI	+ 0.63	AME

High negative correlations

CMI	- 0.77	URI
AME	- 0.76	ROP
CARR	- 0.74	CMI
CMI	- 0.73	ROP
AME	- 0.71	URI
GWW	- 0.58	FERG

Risk-Adjusted Indicators

There is a big difference between PACCAR Stock performing well and PACCAR 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 PACCAR'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
ROP	0.90	(0.24)	0.00	(0.61)	0.00	0.00	1.71	(2.18)	7.54
URI	1.46	(0.22)	0.00	(0.07)	0.00	0.00	3.00	(3.10)	10.45
CMI	1.48	0.28	0.17	0.35	1.34	(1.69)	2.77	(2.55)	9.83
AME	1.03	0.12	0.11	0.20	0.75	(1.31)	2.31	(1.65)	9.36
FERG	1.24	(0.01)	(0.03)	0.05	2.07	(1.13)	2.31	(2.38)	11.07
LHX	1.28	(0.02)	(0.01)	0.06	1.48	(1.48)	2.66	(2.30)	7.10
CARR	1.37	(0.25)	0.00	(0.10)	0.00	0.00	3.72	(2.74)	8.88
GWW	0.88	0.04	0.04	0.12	0.83	(1.05)	2.59	(1.52)	5.25
SYM	5.09	0.24	0.07	0.13	6.50	(5.63)	10.59	(10.11)	60.87
CNI	0.90	0.03	0.01	0.12	0.91	(1.12)	2.01	(1.65)	5.04

PACCAR Corporate Executives

Elected by the shareholders, the PACCAR's board of directors comprises two types of representatives: PACCAR inside directors who are chosen from within the company, and outside directors, selected externally and held independent of PACCAR. The board's role is to monitor PACCAR's management team and ensure that shareholders' interests are well served. PACCAR's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, PACCAR's outside directors are responsible for providing unbiased perspectives on the board's policies.

John Rich

Executive CTO

Profile

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