United Rentals Correlations

UR3 Stock

EUR 750.20 23.20 3.19%

The current 90-days correlation between United Rentals and ESSILORLUXOTTICA 12ON is 0.09 (i.e., Significant diversification). 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

Very weak diversification

The correlation between United Rentals and DJI is 0.45 (i.e., Very weak 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 together with United Stock

0.65	LA3A	Laureate Education	Pair Corr
0.65	CWA0	REFINED METALS P	Pair Corr

Moving against United Stock

0.42	ISM	PT Indofood Sukses	Pair Corr
0.65	DBPD	Xtrackers ShortDAX	Pair Corr
0.35	3HB	Hybrigenics Societe	Pair Corr

Related Correlations Analysis

	6FO	CJ8A	7EL	ESLC	MLB1	GLE	9MDA	PP1	99Q
6FO		0.5	0.47	-0.68	-0.15	0.28	-0.4	-0.53	-0.3	6FO
CJ8A	0.5		0.61	-0.86	0.13	0.69	-0.59	-0.88	-0.69	CJ8A
7EL	0.47	0.61		-0.49	-0.16	0.61	-0.81	-0.79	-0.49	7EL
ESLC	-0.68	-0.86	-0.49		0.0	-0.48	0.54	0.81	0.58	ESLC
MLB1	-0.15	0.13	-0.16	0.0		-0.04	0.22	0.05	0.03	MLB1
GLE	0.28	0.69	0.61	-0.48	-0.04		-0.57	-0.75	-0.46	GLE
9MDA	-0.4	-0.59	-0.81	0.54	0.22	-0.57		0.77	0.55	9MDA
PP1	-0.53	-0.88	-0.79	0.81	0.05	-0.75	0.77		0.56	PP1
99Q	-0.3	-0.69	-0.49	0.58	0.03	-0.46	0.55	0.56		99Q
	6FO	CJ8A	7EL	ESLC	MLB1	GLE	9MDA	PP1	99Q

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

PP1	+ 0.81	ESLC
PP1	+ 0.77	9MDA
GLE	+ 0.69	CJ8A
7EL	+ 0.61	CJ8A
GLE	+ 0.61	7EL
99Q	+ 0.58	ESLC

High negative correlations

PP1	- 0.88	CJ8A
ESLC	- 0.86	CJ8A
9MDA	- 0.81	7EL
PP1	- 0.79	7EL
PP1	- 0.75	GLE
99Q	- 0.69	CJ8A

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
6FO	1.65	0.35	0.14	(1.30)	1.23	(2.72)	3.95	(2.53)	10.85
CJ8A	1.48	0.48	0.26	10.98	1.00	(2.02)	3.60	(1.80)	10.14
7EL	0.98	0.16	0.09	3.39	0.87	(1.21)	2.25	(1.53)	5.16
ESLC	1.60	(0.43)	0.00	1.16	0.00	0.00	2.19	(5.04)	17.67
MLB1	2.62	0.02	(0.01)	0.17	3.34	(2.74)	5.16	(5.06)	20.86
GLE	1.39	0.06	(0.01)	(0.56)	1.58	(1.65)	3.14	(2.74)	8.61
9MDA	2.10	(0.39)	0.00	(0.41)	0.00	0.00	5.53	(4.42)	20.26
PP1	1.53	(0.34)	0.00	(1.03)	0.00	0.00	2.82	(3.45)	9.04
99Q	6.51	(0.59)	0.00	(0.19)	0.00	0.00	12.75	(15.00)	50.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in United Rentals without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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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.

Joli JD	Corporate VP	Profile
Anthony Leopold	Senior Officer	Profile
Andrew Limoges	Controller VP	Profile
Robert Halsey	Vice Marketing	Profile
Joli Gross	Gen VP	Profile
Jeffrey Fenton	Advisor	Profile

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