Herc Holdings Correlations

HRI Stock

USD 115.39 4.11 3.44%

The current 90-days correlation between Herc Holdings and McGrath RentCorp is 0.48 (i.e., Very weak diversification). The correlation of Herc Holdings 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.

Herc Holdings Correlation With Market

Very weak diversification

The correlation between Herc Holdings and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Herc Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Herc Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Herc Stock

0.75	R	Ryder System	Pair Corr
0.87	VSTS	Vestis	Pair Corr
0.66	WLFC	Willis Lease Finance	Pair Corr
0.84	CAR	Avis Budget Group	Pair Corr
0.96	PRG	PROG Holdings	Pair Corr
0.96	URI	United Rentals	Pair Corr
0.9	WSC	Willscot Mobile Mini	Pair Corr
0.87	ZCAR	Zoomcar Holdings	Pair Corr
0.62	TRTN-PE	Triton International	Pair Corr
0.96	ALTG	Alta Equipment Group	Pair Corr
0.78	UHAL	U Haul Holding	Pair Corr
0.91	J	Jacobs Solutions	Pair Corr
0.69	AP	Ampco Pittsburgh	Pair Corr
0.61	BA	Boeing	Pair Corr
0.93	BV	BrightView Holdings	Pair Corr
0.81	BW	Babcock Wilcox Enter	Pair Corr

Moving against Herc Stock

0.57	FTAIN	Fortress Transportation	Pair Corr
0.56	FTAIM	FTAI Aviation	Pair Corr
0.55	MWG	Multi Ways Holdings	Pair Corr
0.46	AER	AerCap Holdings NV	Pair Corr
0.35	HEES	HE Equipment Services	Pair Corr
0.54	TRTN-PA	Triton International	Pair Corr
0.51	TRTN-PB	Triton International	Pair Corr
0.33	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	MGRC	ALTG	CTOS	GATX	AAN	HEES	PRG	AL	TRTN
MGRC		0.61	0.49	0.86	0.0	0.35	0.34	0.21	0.0	MGRC
ALTG	0.61		0.62	0.5	0.0	-0.29	0.91	-0.03	0.0	ALTG
CTOS	0.49	0.62		0.55	0.0	-0.04	0.54	0.11	0.0	CTOS
GATX	0.86	0.5	0.55		0.0	0.36	0.29	0.2	0.0	GATX
AAN	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AAN
HEES	0.35	-0.29	-0.04	0.36	0.0		-0.51	0.03	0.0	HEES
PRG	0.34	0.91	0.54	0.29	0.0	-0.51		-0.15	0.0	PRG
AL	0.21	-0.03	0.11	0.2	0.0	0.03	-0.15		0.0	AL
TRTN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TRTN
	MGRC	ALTG	CTOS	GATX	AAN	HEES	PRG	AL	TRTN

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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

PRG	+ 0.91	ALTG
GATX	+ 0.86	MGRC
CTOS	+ 0.62	ALTG
ALTG	+ 0.61	MGRC
GATX	+ 0.55	CTOS
PRG	+ 0.54	CTOS

High negative correlations

PRG	- 0.51	HEES
HEES	- 0.29	ALTG
AL	- 0.15	PRG
HEES	- 0.04	CTOS
AL	- 0.03	ALTG
TRTN	- 0.0	AL

Risk-Adjusted Indicators

There is a big difference between Herc Stock performing well and Herc Holdings 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 Herc Holdings' 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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MGRC	1.25	0.04	0.00	(0.12)	0.00	2.75	(2.53)	9.49
ALTG	3.53	(0.25)	0.00	(0.32)	0.00	6.91	(8.01)	26.46
CTOS	3.10	(0.31)	0.00	(0.98)	0.00	6.13	(6.55)	29.17
GATX	1.12	0.03	0.00	(0.14)	0.00	2.11	(2.06)	10.49
AAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HEES	3.57	1.68	1.37	1.30	(5.31)	1.14	(1.84)	107.70
PRG	2.30	(0.52)	0.00	(0.69)	0.00	3.46	(5.06)	31.87
AL	1.67	(0.09)	0.00	(0.35)	0.00	3.36	(5.47)	16.37
TRTN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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