PACCAR Correlations

Stocks . USA . 
Stock . PACCAR Inc
PCAR Stock  USD 127.00  2.16  1.73%   
The current 90-days correlation between PACCAR Inc and Roper Technologies is 0.14 (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

Almost no diversification

The correlation between PACCAR Inc and DJI is 0.9 (i.e., Almost no 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.
  
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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

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  0.93X5Q COMER INDS SPAPairCorr
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  0.73HCMA HITACHI CONSTRMACHADR/2PairCorr

Moving against PACCAR Stock

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  0.34BNC CEA Industries Symbol ChangePairCorr
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  0.84HCAI Huachen AI ParkingPairCorr
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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

GWW
+ 0.95
AME
AME
+ 0.94
CMI
LHX
+ 0.89
CMI
LHX
+ 0.88
AME
GWW
+ 0.87
CMI
CARR
+ 0.85
AME
  

High negative correlations

CARR
- 0.92
ROP
AME
- 0.88
ROP
GWW
- 0.84
ROP
CMI
- 0.81
ROP
LHX
- 0.79
ROP
FERG
- 0.72
ROP

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ROP  1.30 (0.56) 0.00 (0.46) 0.00 
 0.00 
 1.91 
(4.19)
 12.33 
URI  1.71 (0.04) 0.00  0.03  2.54 
(1.88)
 4.42 
(3.19)
 17.82 
CMI  1.57  0.24  0.11  0.20  2.28 
(1.67)
 2.87 
(2.50)
 15.60 
AME  0.90  0.17  0.17  0.25  0.77 
(1.05)
 1.87 
(1.34)
 6.22 
FERG  1.31 (0.01) 0.01  0.05  2.01 
(1.25)
 3.03 
(2.56)
 11.07 
LHX  1.34  0.19  0.12  0.27  1.40 
(1.58)
 3.09 
(2.29)
 8.86 
CARR  1.39  0.14  0.11  0.17  1.23 
(1.64)
 4.09 
(2.10)
 7.85 
GWW  1.19  0.20  0.12  0.23  1.52 
(1.40)
 3.46 
(2.33)
 12.51 
SYM  4.48 (0.18) 0.00 (0.12) 0.00 
 0.00 
 9.37 
(6.94)
 60.87 
CNI  1.15  0.16  0.09  0.24  1.45 
(1.30)
 2.57 
(2.23)
 7.66 

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 RichExecutive CTOProfile
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