PACCAR Correlations
| PCAR Stock | USD 112.58 1.39 1.25% |
The correlation of PACCAR 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PACCAR moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PACCAR Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between PACCAR Inc and NYA is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PACCAR Inc and NYA in the same portfolio, assuming nothing else is changed.
PACCAR |
The ability to find closely correlated positions to PACCAR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PACCAR 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 PACCAR - 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 PACCAR Inc to buy it.
Moving together with PACCAR Stock
| 0.94 | CAT | Caterpillar Earnings Call This Week | PairCorr |
| 0.82 | OSK | Oshkosh Earnings Call This Week | PairCorr |
| 0.81 | WNC | Wabash National Earnings Call Tomorrow | PairCorr |
Moving against PACCAR Stock
| 0.89 | LNN | Lindsay Financial Report 4th of July 2024 | PairCorr |
| 0.83 | TWI | Titan International Financial Report 1st of May 2024 | PairCorr |
| 0.77 | ZEVYW | Lightning eMotors | PairCorr |
| 0.74 | LEV | Lion Electric Corp Financial Report 14th of May 2024 | PairCorr |
| 0.73 | MTW | Manitowoc Earnings Call This Week | PairCorr |
| 0.65 | MNTX | Manitex International Downward Rally | PairCorr |
| 0.54 | HY | Hyster Yale Materials Earnings Call This Week | PairCorr |
Related Correlations Analysis
| 0.51 | 0.9 | 0.12 | -0.12 | AGCO | ||
| 0.51 | 0.7 | -0.49 | -0.39 | CNHI | ||
| 0.9 | 0.7 | -0.19 | -0.39 | DE | ||
| 0.12 | -0.49 | -0.19 | 0.84 | LNN | ||
| -0.12 | -0.39 | -0.39 | 0.84 | LEV | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between PACCAR Stock performing well and PACCAR 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 PACCAR'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AGCO | 1.17 | (0.02) | (0.02) | 0.05 | 1.51 | 2.11 | 6.27 | |||
| CNHI | 1.32 | (0.10) | (0.04) | 0.00 | 1.81 | 2.73 | 9.24 | |||
| DE | 0.84 | 0.01 | 0.00 | 0.10 | 1.40 | 2.12 | 7.35 | |||
| LNN | 1.32 | (0.24) | 0.00 | (0.12) | 0.00 | 2.34 | 8.83 | |||
| LEV | 2.72 | (1.09) | 0.00 | (0.30) | 0.00 | 3.85 | 16.72 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in PACCAR 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.Did you try this?
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PACCAR Corporate Directors
PACCAR corporate directors refer to members of a PACCAR board of directors. The board of directors generally takes responsibility for the PACCAR's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of PACCAR's board members must vote for the resolution. The PACCAR board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Franklin Feder | Director | Profile | |
| Kenneth Hastings | Director of IR | Profile | |
| John Pigott | Director | Profile | |
| Alison Carnwath | Independent Director | Profile |
Already Invested in PACCAR Inc?
The danger of trading PACCAR Inc is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of PACCAR is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than PACCAR. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile PACCAR Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether PACCAR Inc is a strong investment it is important to analyze PACCAR's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact PACCAR's future performance. For an informed investment choice regarding PACCAR Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PACCAR Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the PACCAR Inc information on this page should be used as a complementary analysis to other PACCAR's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Complementary Tools for PACCAR Stock analysis
When running PACCAR's price analysis, check to measure PACCAR's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy PACCAR is operating at the current time. Most of PACCAR's value examination focuses on studying past and present price action to predict the probability of PACCAR's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PACCAR's price. Additionally, you may evaluate how the addition of PACCAR to your portfolios can decrease your overall portfolio volatility.
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Is PACCAR's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of PACCAR. If investors know PACCAR will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about PACCAR listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.528 | Dividend Share 1.04 | Earnings Share 8.76 | Revenue Per Share 67.05 | Quarterly Revenue Growth 0.117 |
The market value of PACCAR Inc is measured differently than its book value, which is the value of PACCAR that is recorded on the company's balance sheet. Investors also form their own opinion of PACCAR's value that differs from its market value or its book value, called intrinsic value, which is PACCAR's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because PACCAR's market value can be influenced by many factors that don't directly affect PACCAR's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between PACCAR's value and its price as these two are different measures arrived at by different means. Investors typically determine if PACCAR is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, PACCAR's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.