Herc Holdings Correlations

HRI Stock

USD 136.65 0.55 0.40%

The current 90-days correlation between Herc Holdings and Fortress Transportation and is 0.19 (i.e., Average 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 0.5 (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.

Build AI portfolio with Herc Stock

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

0.9	R	Ryder System Earnings Call This Week	Pair Corr
0.69	AL	Air Lease	Pair Corr
0.72	CAR	Avis Budget Group	Pair Corr
0.76	PRG	PROG Holdings Earnings Call This Week	Pair Corr
0.85	URI	United Rentals Earnings Call This Week	Pair Corr
0.83	WSC	Willscot Mobile Mini	Pair Corr
0.81	FTAIN	Fortress Transportation Earnings Call Tomorrow	Pair Corr
0.84	MGRC	McGrath RentCorp Earnings Call This Week	Pair Corr
0.62	TRTN-PC	Triton International	Pair Corr
0.63	TRTN-PD	Triton International	Pair Corr
0.69	TRTN-PE	Triton International	Pair Corr
0.63	TRTN-PA	Triton International	Pair Corr
0.63	TRTN-PB	Triton International	Pair Corr
0.73	ALTG	Alta Equipment Group	Pair Corr
0.61	ALTG-PA	Alta Equipment Group	Pair Corr
0.69	CTOS	Custom Truck One	Pair Corr
0.76	J	Jacobs Solutions	Pair Corr
0.68	AZ	A2Z Smart Technologies	Pair Corr
0.72	BA	Boeing	Pair Corr
0.66	BE	Bloom Energy Corp	Pair Corr
0.64	CP	Canadian Pacific Railway	Pair Corr

Moving against Herc Stock

0.59	VSTS	Vestis	Pair Corr
0.41	FPAY	FlexShopper	Pair Corr
0.31	ZCAR	Zoomcar Holdings	Pair Corr
0.31	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	FTAIN	FLXS	RCKY	REX	SGA	WTBA
FTAIN		0.38	0.86	0.65	0.77	0.7	FTAIN
FLXS	0.38		0.28	0.83	0.63	0.57	FLXS
RCKY	0.86	0.28		0.64	0.78	0.55	RCKY
REX	0.65	0.83	0.64		0.9	0.53	REX
SGA	0.77	0.63	0.78	0.9		0.59	SGA
WTBA	0.7	0.57	0.55	0.53	0.59		WTBA
	FTAIN	FLXS	RCKY	REX	SGA	WTBA

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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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FTAIN	0.34	0.03	(0.14)	0.38	0.41	(0.36)	1.03	(0.68)	2.75
FLXS	2.82	(0.06)	0.04	0.11	2.61	(3.14)	5.50	(4.54)	22.71
RCKY	3.20	0.91	0.26	0.72	2.92	(3.81)	6.75	(3.51)	70.57
REX	1.29	0.44	0.19	3.82	1.23	(1.45)	3.32	(1.38)	9.39
SGA	1.50	0.26	0.06	1.53	2.01	(1.55)	3.37	(3.12)	12.54
WTBA	1.48	(0.04)	(0.02)	0.09	1.84	(1.58)	3.16	(3.20)	8.56

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