Trimble Correlations

TRMB Stock

USD 83.52 1.22 1.48%

The current 90-days correlation between Trimble and Fortive Corp is 0.41 (i.e., Very weak diversification). The correlation of Trimble 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.

Trimble Correlation With Market

Poor diversification

The correlation between Trimble and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trimble and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Trimble Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Trimble. 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 information on how to trade Trimble Stock refer to our How to Trade Trimble Stock guide.

Moving together with Trimble Stock

0.67	KE	Kimball Electronics	Pair Corr
0.62	BDC	Belden Inc	Pair Corr

Related Correlations Analysis

	FTV	FN	J	TYL	COHR	GDDY	IT	JBL	NTNX	CPAY
FTV		0.72	-0.42	-0.82	0.91	-0.67	-0.6	-0.12	-0.8	-0.24	FTV
FN	0.72		0.0	-0.76	0.87	-0.63	-0.57	0.14	-0.64	-0.49	FN
J	-0.42	0.0		0.14	-0.29	0.04	0.35	0.09	0.52	-0.41	J
TYL	-0.82	-0.76	0.14		-0.85	0.85	0.65	0.22	0.68	0.66	TYL
COHR	0.91	0.87	-0.29	-0.85		-0.7	-0.66	-0.02	-0.8	-0.32	COHR
GDDY	-0.67	-0.63	0.04	0.85	-0.7		0.56	0.45	0.7	0.65	GDDY
IT	-0.6	-0.57	0.35	0.65	-0.66	0.56		0.38	0.64	0.21	IT
JBL	-0.12	0.14	0.09	0.22	-0.02	0.45	0.38		0.27	0.15	JBL
NTNX	-0.8	-0.64	0.52	0.68	-0.8	0.7	0.64	0.27		0.1	NTNX
CPAY	-0.24	-0.49	-0.41	0.66	-0.32	0.65	0.21	0.15	0.1		CPAY
	FTV	FN	J	TYL	COHR	GDDY	IT	JBL	NTNX	CPAY

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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

COHR	+ 0.91	FTV
COHR	+ 0.87	FN
GDDY	+ 0.85	TYL
FN	+ 0.72	FTV
NTNX	+ 0.7	GDDY
NTNX	+ 0.68	TYL

High negative correlations

COHR	- 0.85	TYL
TYL	- 0.82	FTV
NTNX	- 0.8	COHR
NTNX	- 0.8	FTV
TYL	- 0.76	FN
GDDY	- 0.7	COHR

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FTV	0.93	0.13	0.11	0.21	0.87	(1.07)	2.23	(1.48)	6.83
FN	2.35	0.33	0.12	0.24	3.05	(2.50)	5.71	(5.27)	16.22
J	1.36	(0.13)	0.00	(0.01)	0.00	0.00	2.75	(2.84)	15.57
TYL	1.20	(0.29)	0.00	(0.39)	0.00	0.00	1.65	(2.24)	12.95
COHR	3.11	0.93	0.25	0.58	2.92	(3.46)	6.66	(5.13)	28.98
GDDY	1.20	(0.25)	0.00	(0.18)	0.00	0.00	2.28	(3.27)	8.52
IT	1.62	(0.12)	0.00	(0.02)	0.00	0.00	3.88	(4.50)	15.43
JBL	1.81	0.01	0.01	0.07	2.71	(1.72)	3.94	(5.24)	11.21
NTNX	1.89	(0.56)	0.00	(1.02)	0.00	0.00	3.13	(5.32)	24.98
CPAY	1.44	(0.12)	0.00	(0.03)	0.00	0.00	3.41	(3.57)	9.01

Trimble Corporate Management

Jennifer Allison	Corporate Counsel	Profile
Shaun Callaghan	Sector Sales	Profile
Mark Schwartz	Senior Software	Profile
Chris Keating	Senior Logistics	Profile
Jim Palermo	Chief Officer	Profile
Garland Jackson	Senior Transportation	Profile
Michael Leyba	IR Contact Officer	Profile

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