Titan Machinery Correlations

TITN Stock  USD 19.24  0.15  0.77%   
The current 90-days correlation between Titan Machinery and Global Industrial Co is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Titan Machinery moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Titan Machinery moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Titan Machinery Correlation With Market

Very weak diversification

The correlation between Titan Machinery and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Titan Machinery and DJI in the same portfolio, assuming nothing else is changed.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Titan Machinery. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
To learn how to invest in Titan Stock, please use our How to Invest in Titan Machinery guide.

Moving together with Titan Stock

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  0.78CP Canadian Pacific Railway Earnings Call This WeekPairCorr
  0.83CR Crane Company Earnings Call This WeekPairCorr
  0.73CW Curtiss WrightPairCorr
  0.85DE Deere CompanyPairCorr
  0.68DY Dycom IndustriesPairCorr
  0.82FA First Advantage CorpPairCorr
  0.71GE GE Aerospace Earnings Call TodayPairCorr

Moving against Titan Stock

  0.71MG Mistras Group Earnings Call This WeekPairCorr
  0.42NL NL IndustriesPairCorr
  0.36PC Premium Catering TrendingPairCorr

Related Correlations Analysis

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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   
CNMMSM
SITEGIC
CNMGIC
SITECNM
SITEMSM
MSMGIC
  
High negative correlations   
POOLCNM

Risk-Adjusted Indicators

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

Titan Machinery Corporate Management

Aaron CordyManaging AustraliaProfile
Robert LarsenCFO TreasurerProfile
Ray OchsnerChief OfficerProfile
Jeff BowmanChief OfficerProfile