United Rentals Correlations

U1RI34 Stock

BRL 157.51 7.05 4.69%

The current 90-days correlation between United Rentals and Cognizant Technology Solutions is 0.11 (i.e., Average diversification). The correlation of United Rentals 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.

United Rentals Correlation With Market

Weak diversification

The correlation between United Rentals and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Rentals and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to United Rentals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace United Rentals when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back United Rentals - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling United Rentals to buy it.

Moving together with United Stock

0.63

NMRH34

Nomura Holdings

Pair Corr

Moving against United Stock

0.44	RENT3	Localiza Rent a	Pair Corr
0.42	MWET4	Wetzel SA	Pair Corr
0.37	MOVI3	Movida Participaes	Pair Corr
0.38	FESA4F	FESA4F	Pair Corr
0.34	BMEB3	Banco Mercantil do	Pair Corr

Related Correlations Analysis

	H1RL34	CTSH34	T1TW34	C1HK34	FIQE3	I1HG34	W1MG34
H1RL34		0.05	-0.3	-0.25	0.06	-0.22	-0.61	H1RL34
CTSH34	0.05		-0.08	-0.28	0.56	0.74	0.01	CTSH34
T1TW34	-0.3	-0.08		0.81	-0.71	-0.26	0.23	T1TW34
C1HK34	-0.25	-0.28	0.81		-0.8	-0.34	0.32	C1HK34
FIQE3	0.06	0.56	-0.71	-0.8		0.71	-0.14	FIQE3
I1HG34	-0.22	0.74	-0.26	-0.34	0.71		0.21	I1HG34
W1MG34	-0.61	0.01	0.23	0.32	-0.14	0.21		W1MG34
	H1RL34	CTSH34	T1TW34	C1HK34	FIQE3	I1HG34	W1MG34

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

C1HK34	+ 0.81	T1TW34
I1HG34	+ 0.74	CTSH34
I1HG34	+ 0.71	FIQE3
FIQE3	+ 0.56	CTSH34
W1MG34	+ 0.32	C1HK34
W1MG34	+ 0.23	T1TW34

High negative correlations

FIQE3	- 0.8	C1HK34
FIQE3	- 0.71	T1TW34
W1MG34	- 0.61	H1RL34
I1HG34	- 0.34	C1HK34
T1TW34	- 0.3	H1RL34
C1HK34	- 0.28	CTSH34

Risk-Adjusted Indicators

There is a big difference between United Stock performing well and United Rentals 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 United Rentals' 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
H1RL34	0.69	0.19	0.06	6.91	0.67	(2.47)	2.11	(1.01)	11.72
CTSH34	0.63	0.24	0.00	0.47	0.00	0.00	0.27	0.00	17.88
T1TW34	1.82	(0.16)	0.00	(0.50)	0.00	0.00	3.33	(5.05)	10.94
C1HK34	0.86	(0.31)	0.00	1.04	0.00	0.00	0.00	(3.56)	14.15
FIQE3	1.50	0.35	0.14	1.90	1.97	(1.63)	2.89	(3.04)	11.69
I1HG34	0.59	0.15	0.00	8.16	0.00	0.00	0.00	0.00	23.07
W1MG34	1.13	(0.17)	0.00	0.30	0.00	0.00	3.94	(2.39)	15.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in United Rentals without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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United Rentals Corporate Management

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

Andrew Limoges	Controller VP	Profile
Daniel Higgins	VP Officer	Profile
William Grace	VP CFO	Profile
Michael Durand	VP Operations	Profile
Matthew Flannery	CEO Pres	Profile
Dale Asplund	Ex COO	Profile
Joli Gross	Gen VP	Profile

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