RB Global Correlations

RBA Stock

USD 99.35 2.40 2.48%

The current 90-days correlation between RB Global and Global Payments is 0.48 (i.e., Very weak diversification). The correlation of RB 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.

RB Global Correlation With Market

Poor diversification

The correlation between RB Global and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RB Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with RBA Stock

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

For information on how to trade RBA Stock refer to our How to Trade RBA Stock guide.

Moving together with RBA Stock

0.7	NL	NL Industries	Pair Corr
0.67	GDI	GDI Integrated Earnings Call This Week	Pair Corr
0.69	ACU	Acme United Earnings Call Tomorrow	Pair Corr
0.78	DXT	Dexterra Group Earnings Call This Week	Pair Corr
0.71	BCO	Brinks Company Earnings Call Tomorrow	Pair Corr
0.67	DLX	Deluxe	Pair Corr
0.61	EBF	Ennis Inc	Pair Corr
0.7	HNI	HNI Corp	Pair Corr
0.75	77Q	KNIGHTS GROUP HOL	Pair Corr
0.8	RTO1	Rentokil Initial plc	Pair Corr

Moving against RBA Stock

0.59	EDEN	Edenred SA	Pair Corr
0.52	BTM	Bitcoin Depot Downward Rally	Pair Corr
0.4	CRE	Cre8 Enterprise	Pair Corr
0.39	KBL	K Bro Linen	Pair Corr
0.38	VIRC	Virco Manufacturing	Pair Corr
0.38	WOSB	Wolters Kluwers Nv Earnings Call Today	Pair Corr
0.71	PHQ	Photo Me International Earnings Call This Week	Pair Corr
0.7	P8X	PAX Global Technology	Pair Corr
0.68	FUO	Dolby Laboratories	Pair Corr
0.67	N09	NOVUS HOLDINGS LTD	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.53	T9CA	TEAM INC DL	Pair Corr
0.38	WKL	Wolters Kluwer NV Earnings Call Today	Pair Corr

Related Correlations Analysis

	GPN	ULS	FTAI	RTO	NVT	CHRW	SNA	PNR	ACM	TRU
GPN		0.31	-0.41	-0.21	-0.48	-0.4	-0.22	0.36	-0.07	0.54	GPN
ULS	0.31		-0.63	-0.71	-0.54	-0.68	-0.68	0.21	0.53	0.46	ULS
FTAI	-0.41	-0.63		0.87	0.83	0.83	0.91	-0.25	-0.47	-0.56	FTAI
RTO	-0.21	-0.71	0.87		0.63	0.83	0.85	-0.2	-0.56	-0.4	RTO
NVT	-0.48	-0.54	0.83	0.63		0.78	0.81	-0.35	-0.28	-0.74	NVT
CHRW	-0.4	-0.68	0.83	0.83	0.78		0.83	-0.43	-0.36	-0.65	CHRW
SNA	-0.22	-0.68	0.91	0.85	0.81	0.83		-0.33	-0.61	-0.65	SNA
PNR	0.36	0.21	-0.25	-0.2	-0.35	-0.43	-0.33		0.01	0.75	PNR
ACM	-0.07	0.53	-0.47	-0.56	-0.28	-0.36	-0.61	0.01		0.17	ACM
TRU	0.54	0.46	-0.56	-0.4	-0.74	-0.65	-0.65	0.75	0.17		TRU
	GPN	ULS	FTAI	RTO	NVT	CHRW	SNA	PNR	ACM	TRU

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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

SNA	+ 0.91	FTAI
RTO	+ 0.87	FTAI
SNA	+ 0.85	RTO
NVT	+ 0.83	FTAI
CHRW	+ 0.83	FTAI
CHRW	+ 0.83	RTO

High negative correlations

TRU	- 0.74	NVT
RTO	- 0.71	ULS
SNA	- 0.68	ULS
CHRW	- 0.68	ULS
TRU	- 0.65	SNA
TRU	- 0.65	CHRW

Risk-Adjusted Indicators

There is a big difference between RBA Stock performing well and RB 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 RB 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
GPN	1.82	0.02	0.03	0.10	2.03	(2.03)	3.53	(3.21)	20.08
ULS	1.87	(0.17)	0.00	(0.10)	0.00	0.00	2.97	(3.49)	18.97
FTAI	2.35	0.94	0.37	0.85	1.74	(2.73)	6.86	(3.46)	22.10
RTO	1.18	0.30	0.10	(0.70)	1.55	(1.32)	2.95	(2.09)	10.67
NVT	1.75	0.11	0.05	0.19	2.43	(1.82)	3.47	(3.53)	10.78
CHRW	1.51	0.12	0.06	0.16	2.82	(1.69)	3.82	(1.85)	19.66
SNA	0.82	0.20	0.16	0.37	0.71	(0.92)	2.16	(1.32)	5.64
PNR	1.27	(0.09)	(0.03)	0.02	2.34	(1.20)	2.77	(2.66)	13.49
ACM	1.70	(0.54)	0.00	(0.27)	0.00	0.00	2.61	(4.71)	15.25
TRU	1.99	(0.29)	0.00	(0.08)	0.00	0.00	4.04	(4.59)	16.82

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