HE Equipment Correlations

Summary

HEESDelisted Stock

USD 94.64 0.37 0.39%

The current 90-days correlation between HE Equipment Services and GATX Corporation is 0.06 (i.e., Significant diversification). The correlation of HE 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. If the correlation is 0, the equities are not correlated; they are entirely random.

HE Equipment Correlation With Market

Significant diversification

The correlation between HE Equipment Services and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HE Equipment Services 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving against HEES Stock

0.54	FTAIN	Fortress Transportation	Pair Corr
0.5	EHGO	Eshallgo Class A	Pair Corr
0.49	WSC	Willscot Mobile Mini	Pair Corr
0.43	AL	Air Lease	Pair Corr
0.43	FPAY	FlexShopper	Pair Corr
0.43	HRI	Herc Holdings	Pair Corr
0.41	PRG	PROG Holdings	Pair Corr
0.38	R	Ryder System Earnings Call Today	Pair Corr
0.38	MGRC	McGrath RentCorp	Pair Corr
0.37	URI	United Rentals	Pair Corr
0.35	AER	AerCap Holdings NV Sell-off Trend	Pair Corr
0.71	PONY	Pony AI American Tech Boost	Pair Corr
0.49	CP	Canadian Pacific Railway	Pair Corr
0.48	BV	BrightView Holdings	Pair Corr
0.42	UHAL	U Haul Holding	Pair Corr
0.42	BA	Boeing Aggressive Push	Pair Corr
0.4	AP	Ampco Pittsburgh	Pair Corr
0.33	BZ	Kanzhun Ltd ADR	Pair Corr

Related Correlations Analysis

	GATX	MGRC	ALTG	R	CTOS	AAN	PRG	MPU	FTAIM	HRI
GATX		0.68	0.75	0.48	0.64	0.0	0.68	-0.06	0.73	0.35	GATX
MGRC	0.68		0.82	0.78	0.86	0.0	0.96	0.13	0.86	0.65	MGRC
ALTG	0.75	0.82		0.66	0.89	0.0	0.82	0.11	0.83	0.31	ALTG
R	0.48	0.78	0.66		0.68	0.0	0.79	0.13	0.71	0.56	R
CTOS	0.64	0.86	0.89	0.68		0.0	0.86	0.29	0.84	0.43	CTOS
AAN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AAN
PRG	0.68	0.96	0.82	0.79	0.86	0.0		0.18	0.84	0.59	PRG
MPU	-0.06	0.13	0.11	0.13	0.29	0.0	0.18		0.14	-0.15	MPU
FTAIM	0.73	0.86	0.83	0.71	0.84	0.0	0.84	0.14		0.42	FTAIM
HRI	0.35	0.65	0.31	0.56	0.43	0.0	0.59	-0.15	0.42		HRI
	GATX	MGRC	ALTG	R	CTOS	AAN	PRG	MPU	FTAIM	HRI

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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	+ 0.96	MGRC
CTOS	+ 0.89	ALTG
CTOS	+ 0.86	MGRC
FTAIM	+ 0.86	MGRC
PRG	+ 0.86	CTOS
FTAIM	+ 0.84	CTOS

High negative correlations

HRI	- 0.15	MPU
MPU	- 0.06	GATX
HRI	- 0.0	AAN
FTAIM	- 0.0	AAN
MPU	- 0.0	AAN
PRG	- 0.0	AAN

Risk-Adjusted Indicators

There is a big difference between HEES Stock performing well and HE 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 HE 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
GATX	1.24	(0.01)	(0.03)	0.00	1.74	(1.27)	2.40	(1.82)	10.53
MGRC	1.45	0.07	0.02	0.43	1.72	(1.56)	2.85	(2.66)	9.82
ALTG	3.47	0.60	0.12	1.40	4.01	(3.80)	7.73	(5.15)	22.49
R	1.82	0.13	0.07	0.14	2.09	(2.20)	3.76	(3.17)	15.25
CTOS	2.97	0.38	0.08	(2.76)	3.73	(3.40)	7.04	(6.35)	17.20
AAN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRG	1.87	0.14	0.04	0.56	2.69	(1.95)	3.97	(4.44)	18.86
MPU	4.02	0.38	0.05	(8.75)	5.31	(4.47)	9.20	(8.16)	31.27
FTAIM	0.77	0.07	0.03	0.57	0.85	(0.94)	2.03	(1.68)	4.97
HRI	3.13	0.02	0.00	0.17	3.86	(3.56)	8.31	(7.74)	23.09

HE Equipment Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with HE Equipment stock to make a market-neutral strategy. Peer analysis of HE Equipment could also be used in its relative valuation, which is a method of valuing HE Equipment by comparing valuation metrics with similar companies.

GATX Corporation McGrath RentCorp Alta Equipment Group Ryder System Custom Truck One The Aarons PROG Holdings Mega Matrix Corp FTAI Aviation Ltd Herc Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

HE Equipment Corporate Executives

Elected by the shareholders, the HE Equipment's board of directors comprises two types of representatives: HE Equipment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HEES. The board's role is to monitor HE Equipment's management team and ensure that shareholders' interests are well served. HE Equipment's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, HE Equipment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Leslie CPA	CFO Secretary	Profile
Leslie Magee	CFO, Principal Accounting Officer and Secretary	Profile
Bradley Barber	Pres and COO	Profile

Still Interested in HE Equipment Services?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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