United Rentals Correlations

U1RI34 Stock

BRL 167.36 3.96 2.42%

The correlation of United Rentals 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.

United Rentals Correlation With Market

Average diversification

The correlation between United Rentals and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Rentals and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to United Rentals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace United Rentals when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back United Rentals - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling United Rentals to buy it.

Moving against United Stock

0.65	B1RF34	Broadridge Financial	Pair Corr
0.65	CEDO3	Companhia de Fiacao	Pair Corr
0.52	M1CB34	Molson Coors Beverage	Pair Corr
0.42	TSMC34	Taiwan Semiconductor	Pair Corr
0.32	R1KU34	Roku Inc	Pair Corr
0.55	NOKI34	Nokia Oyj	Pair Corr
0.42	ASML34	ASML Holding NV	Pair Corr
0.4	A1SN34	Ascendis Pharma AS	Pair Corr

Related Correlations Analysis

	N1XP34	S1MF34	A1LK34	B1RF34	J1EF34	P1DT34	P2ST34	ADPR34
N1XP34		-0.25	-0.34	-0.39	-0.19	0.05	-0.37	-0.18	N1XP34
S1MF34	-0.25		0.8	0.62	0.92	0.83	0.76	0.9	S1MF34
A1LK34	-0.34	0.8		0.87	0.69	0.52	0.94	0.65	A1LK34
B1RF34	-0.39	0.62	0.87		0.57	0.38	0.87	0.47	B1RF34
J1EF34	-0.19	0.92	0.69	0.57		0.85	0.68	0.91	J1EF34
P1DT34	0.05	0.83	0.52	0.38	0.85		0.51	0.84	P1DT34
P2ST34	-0.37	0.76	0.94	0.87	0.68	0.51		0.63	P2ST34
ADPR34	-0.18	0.9	0.65	0.47	0.91	0.84	0.63		ADPR34
	N1XP34	S1MF34	A1LK34	B1RF34	J1EF34	P1DT34	P2ST34	ADPR34

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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

P2ST34	+ 0.94	A1LK34
J1EF34	+ 0.92	S1MF34
ADPR34	+ 0.91	J1EF34
ADPR34	+ 0.9	S1MF34
B1RF34	+ 0.87	A1LK34
P2ST34	+ 0.87	B1RF34

High negative correlations

B1RF34	- 0.39	N1XP34
P2ST34	- 0.37	N1XP34
A1LK34	- 0.34	N1XP34
S1MF34	- 0.25	N1XP34
J1EF34	- 0.19	N1XP34
ADPR34	- 0.18	N1XP34

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Rentals 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 United Rentals' 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
N1XP34	1.70	0.01	0.00	(0.07)	2.82	(1.67)	3.99	(4.87)	13.69
S1MF34	1.34	0.37	0.14	(0.90)	1.24	(2.30)	3.54	(3.01)	13.95
A1LK34	1.95	0.97	0.44	(3.92)	0.00	(4.99)	3.79	(1.77)	27.68
B1RF34	0.01	0.00	0.00	1.01	0.00	0.00	0.00	0.00	0.34
J1EF34	1.75	0.60	0.17	10.70	1.44	(3.24)	5.85	(2.55)	25.98
P1DT34	0.79	0.16	0.06	1.70	0.81	(3.43)	3.74	(1.88)	12.95
P2ST34	1.53	0.62	0.18	(0.93)	0.58	(5.66)	4.30	(2.25)	35.38
ADPR34	0.86	0.30	0.22	37.94	0.65	(1.21)	2.75	(1.61)	10.29

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United Rentals Corporate Management

Elected by the shareholders, the United Rentals' board of directors comprises two types of representatives: United Rentals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of United. The board's role is to monitor United Rentals' management team and ensure that shareholders' interests are well served. United Rentals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, United Rentals' outside directors are responsible for providing unbiased perspectives on the board's policies.

Andrew Limoges	Controller VP	Profile
Daniel Higgins	VP Officer	Profile
William Grace	VP CFO	Profile
Michael Durand	VP Operations	Profile
Matthew Flannery	CEO Pres	Profile
Dale Asplund	Ex COO	Profile
Joli Gross	Gen VP	Profile

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