United Rentals Correlations

URI Stock

USD 909.11 20.13 2.26%

The current 90-days correlation between United Rentals and Ryder System is 0.36 (i.e., Weak 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

Poor diversification

The correlation between United Rentals and DJI is 0.67 (i.e., Poor 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.

Build AI portfolio with United Stock

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

For more detail on how to invest in United Stock please use our How to Invest in United Rentals guide.

Moving together with United Stock

0.66	DSGR	Distribution Solutions	Pair Corr
0.66	SIX3	Sixt SE	Pair Corr
0.71	AIT	Applied Industrial	Pair Corr
0.73	FZG1	BLUELINX HLDGS DL Earnings Call This Week	Pair Corr
0.7	BXC	BlueLinx Holdings Earnings Call This Week	Pair Corr
0.66	CNM	Core Main	Pair Corr
0.61	GIC	Global Industrial	Pair Corr
0.71	FTAI	FTAI Aviation	Pair Corr
0.63	HRI	Herc Holdings	Pair Corr
0.61	RUS	Russel Metals	Pair Corr
0.67	QXO	QXO Inc	Pair Corr

Moving against United Stock

0.46	61F	ELEMENT FLEET MGMT Earnings Call This Week	Pair Corr
0.68	AA4	Amedeo Air Four	Pair Corr
0.59	IPW	iPower Inc	Pair Corr
0.39	CUCA	Avis Budget Group	Pair Corr
0.36	IGC	India Globalization	Pair Corr

Related Correlations Analysis

	R	PONY	RYAAY	ADT	GATX	TTC	SSD	FSS	FLR	LOAR
R		0.24	0.32	-0.19	0.92	0.85	0.82	0.67	0.71	-0.06	R
PONY	0.24		0.64	0.61	0.37	0.29	0.12	0.45	0.08	0.77	PONY
RYAAY	0.32	0.64		0.45	0.35	0.22	-0.04	0.11	-0.1	0.55	RYAAY
ADT	-0.19	0.61	0.45		-0.14	-0.2	-0.29	0.07	-0.21	0.68	ADT
GATX	0.92	0.37	0.35	-0.14		0.96	0.87	0.69	0.75	0.13	GATX
TTC	0.85	0.29	0.22	-0.2	0.96		0.9	0.68	0.76	0.08	TTC
SSD	0.82	0.12	-0.04	-0.29	0.87	0.9		0.78	0.79	-0.08	SSD
FSS	0.67	0.45	0.11	0.07	0.69	0.68	0.78		0.56	0.14	FSS
FLR	0.71	0.08	-0.1	-0.21	0.75	0.76	0.79	0.56		-0.05	FLR
LOAR	-0.06	0.77	0.55	0.68	0.13	0.08	-0.08	0.14	-0.05		LOAR
	R	PONY	RYAAY	ADT	GATX	TTC	SSD	FSS	FLR	LOAR

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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

TTC	+ 0.96	GATX
GATX	+ 0.92	R
SSD	+ 0.9	TTC
SSD	+ 0.87	GATX
TTC	+ 0.85	R
SSD	+ 0.82	R

High negative correlations

SSD	- 0.29	ADT
FLR	- 0.21	ADT
TTC	- 0.2	ADT
ADT	- 0.19	R
GATX	- 0.14	ADT
FLR	- 0.1	RYAAY

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
R	1.52	0.33	0.18	0.28	1.63	(1.68)	3.79	(3.03)	10.45
PONY	3.19	(0.01)	0.02	0.07	3.57	(3.80)	9.40	(6.16)	22.01
RYAAY	1.37	(0.02)	(0.01)	0.05	1.82	(1.32)	2.61	(3.01)	9.49
ADT	0.98	(0.13)	0.00	(0.05)	0.00	0.00	1.64	(2.68)	7.79
GATX	0.90	0.31	0.29	0.53	0.58	(1.08)	2.06	(1.37)	4.89
TTC	1.27	0.52	0.47	0.72	0.41	(1.56)	2.94	(1.38)	13.49
SSD	1.39	0.22	0.16	0.24	1.18	(1.61)	3.49	(2.17)	7.10
FSS	1.16	0.03	0.03	0.10	1.31	(1.22)	2.38	(2.04)	6.54
FLR	1.82	0.26	0.16	0.22	1.55	(2.17)	4.34	(3.00)	10.53
LOAR	1.42	(0.08)	(0.03)	0.01	1.60	(1.64)	3.29	(2.53)	8.09

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