United Rentals Correlations

URI Stock

USD 899.55 51.78 6.11%

The current 90-days correlation between United Rentals and L3Harris Technologies is 0.35 (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 0.6 (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 inflation.

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

0.63	FTAI	FTAI Aviation	Pair Corr
0.66	FXL	FUYO GENERAL LEASE	Pair Corr
0.91	UR3	United Rentals	Pair Corr
0.71	ADEN	ADENTRA	Pair Corr
0.68	SECVY	Seche Environnement	Pair Corr
0.62	RILYL	B Riley Financial	Pair Corr

Moving against United Stock

0.6	AA4	Amedeo Air Four	Pair Corr
0.51	EFN	Element Fleet Management	Pair Corr
0.45	BROGF	BROGF	Pair Corr

Related Correlations Analysis

	LHX	CMI	PCAR	FDX	CNI	FERG	NSC	AXON	ROP	GWW
LHX		0.85	0.82	0.8	0.57	0.45	0.18	0.0	-0.82	0.77	LHX
CMI	0.85		0.96	0.88	0.64	0.29	0.48	-0.19	-0.75	0.84	CMI
PCAR	0.82	0.96		0.92	0.72	0.21	0.57	-0.18	-0.75	0.92	PCAR
FDX	0.8	0.88	0.92		0.63	0.28	0.62	-0.38	-0.82	0.95	FDX
CNI	0.57	0.64	0.72	0.63		-0.06	0.51	0.1	-0.36	0.68	CNI
FERG	0.45	0.29	0.21	0.28	-0.06		0.12	-0.26	-0.58	0.26	FERG
NSC	0.18	0.48	0.57	0.62	0.51	0.12		-0.56	-0.39	0.68	NSC
AXON	0.0	-0.19	-0.18	-0.38	0.1	-0.26	-0.56		0.47	-0.31	AXON
ROP	-0.82	-0.75	-0.75	-0.82	-0.36	-0.58	-0.39	0.47		-0.8	ROP
GWW	0.77	0.84	0.92	0.95	0.68	0.26	0.68	-0.31	-0.8		GWW
	LHX	CMI	PCAR	FDX	CNI	FERG	NSC	AXON	ROP	GWW

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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

PCAR	+ 0.96	CMI
GWW	+ 0.95	FDX
FDX	+ 0.92	PCAR
GWW	+ 0.92	PCAR
FDX	+ 0.88	CMI
CMI	+ 0.85	LHX

High negative correlations

ROP	- 0.82	FDX
ROP	- 0.82	LHX
GWW	- 0.8	ROP
ROP	- 0.75	PCAR
ROP	- 0.75	CMI
ROP	- 0.58	FERG

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
LHX	1.37	0.23	0.14	0.34	1.38	(1.63)	3.09	(2.29)	8.86
CMI	1.60	0.31	0.14	0.26	2.23	(1.74)	2.87	(2.50)	16.11
PCAR	1.29	0.35	0.35	0.41	0.62	(1.69)	3.68	(1.52)	7.16
FDX	1.18	0.51	0.45	0.67	0.46	(1.44)	3.52	(1.59)	7.76
CNI	1.12	0.03	0.01	0.11	1.47	(1.22)	2.53	(2.23)	7.66
FERG	1.33	(0.01)	0.01	0.07	2.03	(1.26)	3.03	(2.56)	11.07
NSC	0.83	0.08	0.05	0.20	0.93	(0.88)	2.16	(1.56)	5.69
AXON	2.20	(0.91)	0.00	(0.61)	0.00	0.00	3.98	(7.33)	15.89
ROP	1.12	(0.39)	0.00	(0.34)	0.00	0.00	1.91	(2.42)	12.33
GWW	1.09	0.25	0.22	0.34	0.86	(1.35)	3.46	(1.69)	7.07

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