Terex Correlations

TEX Stock

USD 57.00 0.68 1.18%

The current 90-days correlation between Terex and Rev Group is 0.2 (i.e., Modest diversification). The correlation of Terex 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.

Terex Correlation With Market

Very poor diversification

The correlation between Terex and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Terex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Terex Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Terex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Terex Stock please use our How to Invest in Terex guide.

Moving together with Terex Stock

0.63	CAT	Caterpillar	Pair Corr
0.65	MLR	Miller Industries	Pair Corr
0.85	PCAR	PACCAR Inc	Pair Corr
0.88	PLOW	Douglas Dynamics	Pair Corr
0.63	PTAIY	Astra International Tbk	Pair Corr
0.62	CZNC	Citizens Northern Corp Normal Trading	Pair Corr
0.78	ITNF	Internet Infinity	Pair Corr
0.83	ZLDAF	Zelira Therapeutics	Pair Corr
0.8	IFSPF	Interfor	Pair Corr
0.76	GPHOF	Graphite One	Pair Corr
0.79	FNCHF	FINEOSHoldings Plc	Pair Corr
0.79	NOSUF	Nerds on Site	Pair Corr
0.75	LILIF	Argentina Lithium Energy	Pair Corr
0.75	KGC	Kinross Gold	Pair Corr
0.75	WBTNF	Weebit Nano Limited Downward Rally	Pair Corr
0.71	CLWT	Euro Tech Holdings	Pair Corr

Moving against Terex Stock

0.63	FLD	Fold Holdings Class Symbol Change	Pair Corr
0.48	PTAIF	PT Astra International	Pair Corr
0.48	BKRKF	PT Bank Rakyat	Pair Corr
0.58	ATMV	ATMV Old Symbol Change	Pair Corr

Related Correlations Analysis

	REVG	UNF	TNET	ALG	AZZ	SXI	KAI	MGRC	HURN	CBZ
REVG		0.85	0.77	0.87	0.85	0.34	0.92	0.77	0.64	-0.35	REVG
UNF	0.85		0.57	0.62	0.91	0.27	0.82	0.51	0.71	-0.44	UNF
TNET	0.77	0.57		0.83	0.64	0.41	0.82	0.76	0.39	-0.14	TNET
ALG	0.87	0.62	0.83		0.76	0.48	0.87	0.88	0.42	-0.32	ALG
AZZ	0.85	0.91	0.64	0.76		0.45	0.88	0.63	0.66	-0.53	AZZ
SXI	0.34	0.27	0.41	0.48	0.45		0.55	0.49	-0.03	-0.37	SXI
KAI	0.92	0.82	0.82	0.87	0.88	0.55		0.84	0.56	-0.4	KAI
MGRC	0.77	0.51	0.76	0.88	0.63	0.49	0.84		0.29	-0.33	MGRC
HURN	0.64	0.71	0.39	0.42	0.66	-0.03	0.56	0.29		0.1	HURN
CBZ	-0.35	-0.44	-0.14	-0.32	-0.53	-0.37	-0.4	-0.33	0.1		CBZ
	REVG	UNF	TNET	ALG	AZZ	SXI	KAI	MGRC	HURN	CBZ

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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

KAI	+ 0.92	REVG
AZZ	+ 0.91	UNF
MGRC	+ 0.88	ALG
KAI	+ 0.88	AZZ
ALG	+ 0.87	REVG
KAI	+ 0.87	ALG

High negative correlations

CBZ	- 0.53	AZZ
CBZ	- 0.44	UNF
CBZ	- 0.4	KAI
CBZ	- 0.37	SXI
CBZ	- 0.35	REVG
CBZ	- 0.33	MGRC

Risk-Adjusted Indicators

There is a big difference between Terex Stock performing well and Terex 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 Terex'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
REVG	1.63	0.15	0.04	0.54	2.51	(1.66)	3.47	(3.10)	11.28
UNF	1.47	0.37	0.25	0.46	1.06	(1.68)	2.89	(2.28)	19.18
TNET	1.73	(0.17)	0.00	(0.07)	0.00	0.00	3.69	(3.35)	10.68
ALG	1.30	(0.01)	0.00	0.04	1.40	(1.39)	2.47	(2.08)	8.89
AZZ	1.28	0.30	0.24	0.29	0.98	(1.58)	3.39	(1.98)	8.55
SXI	1.58	(0.07)	(0.01)	0.01	2.04	(1.48)	3.21	(2.82)	12.69
KAI	1.62	0.09	0.07	0.10	1.69	(1.80)	4.03	(2.93)	10.20
MGRC	1.35	(0.11)	0.00	(0.02)	0.00	0.00	3.75	(2.02)	7.75
HURN	1.23	0.10	0.06	0.21	1.26	(1.30)	2.39	(2.29)	14.24
CBZ	1.77	(0.52)	0.00	(0.42)	0.00	0.00	3.84	(4.64)	14.71

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