Custom Truck Correlations

Stocks . USA . 
Stock . Custom Truck One
CTOS Stock  USD 5.81  0.08  1.36%   
The current 90-days correlation between Custom Truck One and Alta Equipment Group is 0.4 (i.e., Very weak diversification). The correlation of Custom Truck 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.

Custom Truck Correlation With Market

Weak diversification

The correlation between Custom Truck One and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Custom Truck One and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Custom Stock
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Custom Truck One. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Custom Stock

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  0.73FTAIN Fortress TransportationPairCorr
  0.88TRTN-PC Triton InternationalPairCorr
  0.82TRTN-PD Triton InternationalPairCorr
  0.71TRTN-PE Triton InternationalPairCorr
  0.86TRTN-PA Triton InternationalPairCorr
  0.87TRTN-PB Triton InternationalPairCorr
  0.89ALTG Alta Equipment GroupPairCorr
  0.84ALTG-PA Alta Equipment GroupPairCorr
  0.63DIST Distoken AcquisitionPairCorr
  0.61BE Bloom Energy Corp Earnings Call This WeekPairCorr

Moving against Custom Stock

  0.41FPAY FlexShopperPairCorr
  0.38MWG Multi Ways HoldingsPairCorr
  0.57NL NL IndustriesPairCorr
  0.49GP GreenPower MotorPairCorr
  0.43FC Franklin CoveyPairCorr
  0.42RR Richtech Robotics Class Aggressive PushPairCorr

Related Correlations Analysis

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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   
JBI
+ 0.93
MGRC
GATX
+ 0.76
MGRC
MPU
+ 0.71
ALTG
JBI
+ 0.68
GATX
ADV
+ 0.67
ALTG
FTAIM
+ 0.61
ALTG
  
High negative correlations   
EPAC
- 0.75
MPU
EPAC
- 0.7
ALTG
GCMG
- 0.67
ALTG
ADV
- 0.63
EPAC
GCMG
- 0.57
ADV
GCMG
- 0.57
GATX

Risk-Adjusted Indicators

There is a big difference between Custom Stock performing well and Custom Truck 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 Custom Truck'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.

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