Terex Correlations

TEX Stock

USD 68.19 0.66 0.96%

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

Modest diversification

The correlation between Terex and DJI is 0.24 (i.e., Modest 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 housing.

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

Moving together with Terex Stock

0.7	DCO	Deere Company	Pair Corr
0.64	KOMA	KOMATSU LTD SPONS	Pair Corr
0.63	ROI	Rosenbauer International	Pair Corr
0.68	37C	CNH Industrial NV	Pair Corr
0.66	1RG	REV Group Earnings Call This Week	Pair Corr
0.63	RPM	RPM Automotive Group	Pair Corr
0.64	KOM1	Komatsu	Pair Corr
0.94	ALG	Alamo Group Earnings Call This Week	Pair Corr
0.63	CYD	China Yuchai Interna	Pair Corr
0.85	MLR	Miller Industries	Pair Corr
0.88	MTW	Manitowoc	Pair Corr
0.93	WAB	Westinghouse Air Brake	Pair Corr
0.64	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr

Moving against Terex Stock

0.83	BNC	CEA Industries Symbol Change	Pair Corr
0.38	WAC	Wacker Neuson SE	Pair Corr
0.57	GWPD	GP Solutions	Pair Corr
0.56	HCAI	Huachen AI Parking	Pair Corr
0.43	RAL	Ralliant Common	Pair Corr

Related Correlations Analysis

	REVG	UNF	TNET	ALG	AZZ	SXI	KAI	MGRC	HURN	CBZ
REVG		0.7	-0.29	0.74	0.79	0.64	0.78	0.74	-0.45	-0.8	REVG
UNF	0.7		-0.67	0.88	0.91	0.44	0.39	0.72	-0.74	-0.66	UNF
TNET	-0.29	-0.67		-0.59	-0.6	-0.23	0.05	-0.38	0.94	0.52	TNET
ALG	0.74	0.88	-0.59		0.97	0.46	0.47	0.89	-0.66	-0.67	ALG
AZZ	0.79	0.91	-0.6	0.97		0.53	0.52	0.88	-0.7	-0.72	AZZ
SXI	0.64	0.44	-0.23	0.46	0.53		0.7	0.41	-0.43	-0.71	SXI
KAI	0.78	0.39	0.05	0.47	0.52	0.7		0.53	-0.12	-0.71	KAI
MGRC	0.74	0.72	-0.38	0.89	0.88	0.41	0.53		-0.48	-0.66	MGRC
HURN	-0.45	-0.74	0.94	-0.66	-0.7	-0.43	-0.12	-0.48		0.69	HURN
CBZ	-0.8	-0.66	0.52	-0.67	-0.72	-0.71	-0.71	-0.66	0.69		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

AZZ	+ 0.97	ALG
HURN	+ 0.94	TNET
AZZ	+ 0.91	UNF
MGRC	+ 0.89	ALG
ALG	+ 0.88	UNF
MGRC	+ 0.88	AZZ

High negative correlations

CBZ	- 0.8	REVG
HURN	- 0.74	UNF
CBZ	- 0.72	AZZ
CBZ	- 0.71	KAI
CBZ	- 0.71	SXI
HURN	- 0.7	AZZ

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	1.67	0.12	(0.01)	(0.20)	2.49	(1.70)	3.47	(3.10)	10.23
UNF	1.80	0.49	0.31	0.97	1.01	(2.39)	2.67	(2.34)	19.40
TNET	2.62	(0.96)	0.00	(0.35)	0.00	0.00	3.92	(9.84)	17.37
ALG	1.24	0.39	0.31	0.54	0.75	(1.50)	3.58	(1.59)	9.68
AZZ	1.29	0.34	0.27	0.55	0.81	(1.69)	3.06	(1.82)	9.77
SXI	1.74	0.11	0.01	0.88	2.07	(1.73)	3.49	(2.89)	12.69
KAI	1.64	0.30	0.21	0.27	1.38	(1.88)	3.92	(2.93)	10.59
MGRC	1.33	0.11	0.07	0.21	1.42	(1.55)	3.36	(2.02)	9.91
HURN	1.80	(0.43)	0.00	(0.31)	0.00	0.00	3.87	(4.33)	15.88
CBZ	2.40	(0.88)	0.00	(2.32)	0.00	0.00	3.84	(8.87)	16.01

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