Alta Equipment Correlations
| ALTG Stock | USD 7.43 0.09 1.20% |
The current 90-days correlation between Alta Equipment Group and Custom Truck One is 0.41 (i.e., Very weak diversification). The correlation of Alta Equipment 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.
Alta Equipment Correlation With Market
Weak diversification
The correlation between Alta Equipment Group and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alta Equipment Group and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Alta Stock
| 0.72 | R | Ryder System Earnings Call This Week | PairCorr |
| 0.68 | CAR | Avis Budget Group | PairCorr |
| 0.72 | HRI | Herc Holdings Earnings Call This Week | PairCorr |
| 0.68 | PRG | PROG Holdings Earnings Call This Week | PairCorr |
| 0.83 | GATX | GATX | PairCorr |
| 0.9 | URI | United Rentals Earnings Call This Week | PairCorr |
| 0.67 | WSC | Willscot Mobile Mini | PairCorr |
| 0.66 | FTAIM | FTAI Aviation Earnings Call This Week | PairCorr |
| 0.72 | FTAIN | Fortress Transportation Earnings Call This Week | PairCorr |
| 0.79 | MGRC | McGrath RentCorp Earnings Call This Week | PairCorr |
| 0.92 | TRTN-PC | Triton International | PairCorr |
| 0.86 | TRTN-PD | Triton International | PairCorr |
| 0.86 | TRTN-PA | Triton International | PairCorr |
| 0.88 | TRTN-PB | Triton International | PairCorr |
| 0.9 | CTOS | Custom Truck One | PairCorr |
| 0.65 | AZ | A2Z Smart Technologies | PairCorr |
| 0.77 | BE | Bloom Energy Corp | PairCorr |
Moving against Alta Stock
| 0.57 | FPAY | FlexShopper | PairCorr |
| 0.44 | MWG | Multi Ways Holdings | PairCorr |
| 0.39 | VSTS | Vestis | PairCorr |
| 0.46 | GP | GreenPower Motor | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Alta Stock performing well and Alta Equipment 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 Alta Equipment'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CTOS | 2.20 | 0.50 | 0.24 | 0.53 | 1.81 | 4.86 | 12.58 | |||
| PRG | 1.57 | 0.03 | 0.02 | 0.16 | 2.05 | 3.34 | 10.18 | |||
| MGRC | 1.29 | 0.04 | 0.03 | 0.17 | 1.33 | 2.35 | 6.36 | |||
| EPAC | 1.32 | (0.21) | 0.00 | (0.05) | 0.00 | 3.08 | 10.80 | |||
| BBCP | 2.07 | 0.10 | 0.03 | 0.23 | 3.26 | 4.03 | 18.65 | |||
| APG | 1.13 | 0.62 | 0.60 | 1.05 | 0.00 | 3.63 | 9.38 | |||
| AAMI | 1.21 | 0.64 | 0.63 | 0.94 | 0.00 | 3.33 | 6.92 |
Alta Equipment Corporate Management
| Daniel Shribman | Director | Profile | |
| Andrew Studdert | Independent Director | Profile | |
| Jeff Hoover | Chief Counsel | Profile | |
| Sinem McDonald | Director Reporting | Profile | |
| Craig Brubaker | Chief Officer | Profile |