Transcat Correlations

TRNS Stock

USD 60.31 1.81 3.09%

The current 90-days correlation between Transcat and Graham is 0.3 (i.e., Weak diversification). The correlation of Transcat 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.

Transcat Correlation With Market

Weak diversification

The correlation between Transcat and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transcat and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Transcat Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Transcat. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving together with Transcat Stock

0.66	BXC	BlueLinx Holdings	Pair Corr
0.61	URI	United Rentals	Pair Corr
0.63	UR3	United Rentals	Pair Corr
0.66	MGRC	McGrath RentCorp	Pair Corr
0.71	I1M	Indutrade AB	Pair Corr
0.64	ALTG	Alta Equipment Group	Pair Corr
0.69	WS11	WillScot Mobile Mini	Pair Corr

Moving against Transcat Stock

0.36	WJX	Wajax	Pair Corr
0.33	AA4	Amedeo Air Four	Pair Corr
0.45	SFI	Solution Financial	Pair Corr

Related Correlations Analysis

	GHM	RR	KE	KRNT	SNCY	HY	FIP	GNK	NX	RGR
GHM		0.17	0.58	0.48	0.83	0.42	0.75	0.55	0.9	0.42	GHM
RR	0.17		0.51	0.25	0.05	0.76	0.62	-0.06	0.28	0.74	RR
KE	0.58	0.51		0.35	0.59	0.65	0.71	0.42	0.62	0.45	KE
KRNT	0.48	0.25	0.35		0.34	0.51	0.27	0.1	0.47	0.33	KRNT
SNCY	0.83	0.05	0.59	0.34		0.23	0.61	0.86	0.89	0.08	SNCY
HY	0.42	0.76	0.65	0.51	0.23		0.71	-0.05	0.46	0.77	HY
FIP	0.75	0.62	0.71	0.27	0.61	0.71		0.38	0.77	0.68	FIP
GNK	0.55	-0.06	0.42	0.1	0.86	-0.05	0.38		0.65	-0.2	GNK
NX	0.9	0.28	0.62	0.47	0.89	0.46	0.77	0.65		0.42	NX
RGR	0.42	0.74	0.45	0.33	0.08	0.77	0.68	-0.2	0.42		RGR
	GHM	RR	KE	KRNT	SNCY	HY	FIP	GNK	NX	RGR

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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

NX	+ 0.9	GHM
NX	+ 0.89	SNCY
GNK	+ 0.86	SNCY
SNCY	+ 0.83	GHM
RGR	+ 0.77	HY
NX	+ 0.77	FIP

High negative correlations

RGR	- 0.2	GNK
GNK	- 0.06	RR
GNK	- 0.05	HY

Risk-Adjusted Indicators

There is a big difference between Transcat Stock performing well and Transcat 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 Transcat'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
GHM	2.23	0.21	0.07	0.14	3.18	(2.09)	5.13	(4.93)	14.76
RR	6.21	(0.47)	0.00	(0.14)	0.00	0.00	12.95	(10.95)	65.49
KE	1.97	(0.02)	0.01	0.03	2.48	(1.91)	4.59	(4.20)	12.83
KRNT	1.97	(0.25)	0.00	(0.22)	0.00	0.00	4.73	(4.50)	12.19
SNCY	2.26	0.62	0.27	0.41	1.87	(2.68)	6.22	(4.25)	13.97
HY	2.31	(0.17)	0.00	(0.05)	0.00	0.00	5.10	(4.77)	20.43
FIP	3.17	0.12	0.03	0.12	3.68	(3.55)	7.16	(6.73)	18.25
GNK	1.26	0.38	0.24	0.64	1.08	(1.45)	3.90	(1.92)	11.53
NX	2.07	0.29	0.13	0.18	2.27	(2.25)	6.18	(4.72)	14.57
RGR	1.96	(0.37)	0.00	(0.23)	0.00	0.00	3.05	(3.50)	24.96

Transcat Corporate Management

Kristina Johnston	Controller Officer	Profile
James JD	Corporate Officer	Profile
Scott Deverell	Principal Accounting Officer, Corporate Controller	Profile
Mark Doheny	Chief Officer	Profile
Thomas Barbato	Chief Officer	Profile

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