PROG Holdings Correlations
| PRG Stock | USD 32.26 0.25 0.78% |
The correlation of PROG 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PROG Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PROG Holdings 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.
Modest diversification
The correlation between PROG Holdings and NYA is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PROG Holdings and NYA in the same portfolio, assuming nothing else is changed.
PROG |
The ability to find closely correlated positions to PROG Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PROG Holdings 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 PROG Holdings - 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 PROG Holdings to buy it.
Moving together with PROG Stock
| 0.72 | AL | Air Lease Financial Report 6th of May 2024 | PairCorr |
| 0.72 | AER | AerCap Holdings NV Financial Report 7th of May 2024 | PairCorr |
| 0.67 | HRI | Herc Holdings Earnings Call Today | PairCorr |
| 0.7 | GATX | GATX Earnings Call Today | PairCorr |
| 0.66 | URI | United Rentals Earnings Call This Week | PairCorr |
| 0.65 | TGH-PA | Textainer Group Holdings Earnings Call This Week | PairCorr |
| 0.67 | TGH-PB | Textainer Group Holdings | PairCorr |
Moving against PROG Stock
| 0.56 | ZCAR | Zoomcar Holdings Symbol Change | PairCorr |
| 0.45 | YAYO | Yayyo Inc | PairCorr |
| 0.44 | VSTS | Vestis | PairCorr |
| 0.43 | LEAS | Strategic Asset Leasing | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between PROG Stock performing well and PROG 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 PROG 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FPAY | 3.57 | (0.43) | 0.00 | (0.28) | 0.00 | 6.90 | 23.47 | |||
| HTZ | 2.83 | (0.71) | 0.00 | (0.13) | 0.00 | 5.48 | 21.56 | |||
| HYREQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CAR | 2.51 | (0.86) | 0.00 | (0.17) | 0.00 | 4.99 | 28.89 | |||
| AAN | 2.25 | (0.52) | 0.00 | (0.21) | 0.00 | 3.82 | 22.32 | |||
| ASHTY | 1.25 | 0.09 | 0.06 | 0.13 | 2.32 | 3.18 | 17.36 | |||
| ASHTF | 1.62 | 0.11 | 0.07 | 0.14 | 2.09 | 3.62 | 15.06 | |||
| AFDG | 2.67 | 0.48 | 0.00 | 0.42 | 0.00 | 0.00 | 56.67 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in PROG Holdings 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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PROG Holdings Corporate Management
Elected by the shareholders, the PROG Holdings' board of directors comprises two types of representatives: PROG Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of PROG. The board's role is to monitor PROG Holdings' management team and ensure that shareholders' interests are well served. PROG Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, PROG Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ray Martinez | Independent Director | Profile | |
| Trevor Thatcher | Chief Operations Officer | Profile | |
| Caroline Sheu | Independent Director | Profile | |
| Debra Fiori | Chief Human Resource Officer | Profile | |
| Mike Giordano | Chief Commercial Officer | Profile | |
| John CFA | Vice Relations | Profile | |
| Todd King | Chief Officer | Profile |
Already Invested in PROG Holdings?
The danger of trading PROG Holdings 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 PROG Holdings 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 PROG Holdings. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile PROG Holdings 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 PROG Holdings is a strong investment it is important to analyze PROG Holdings' 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 PROG Holdings' future performance. For an informed investment choice regarding PROG 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 PROG Holdings. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. For more detail on how to invest in PROG Stock please use our How to Invest in PROG Holdings guide.You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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When running PROG Holdings' price analysis, check to measure PROG Holdings' 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 PROG Holdings is operating at the current time. Most of PROG Holdings' value examination focuses on studying past and present price action to predict the probability of PROG Holdings' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PROG Holdings' price. Additionally, you may evaluate how the addition of PROG Holdings to your portfolios can decrease your overall portfolio volatility.
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Is PROG Holdings' 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 PROG Holdings. If investors know PROG 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 PROG Holdings 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 (0.45) | Earnings Share 2.98 | Revenue Per Share 52.315 | Quarterly Revenue Growth (0.06) | Return On Assets 0.1649 |
The market value of PROG Holdings is measured differently than its book value, which is the value of PROG that is recorded on the company's balance sheet. Investors also form their own opinion of PROG Holdings' value that differs from its market value or its book value, called intrinsic value, which is PROG Holdings' 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 PROG Holdings' market value can be influenced by many factors that don't directly affect PROG Holdings' 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 PROG Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if PROG Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, PROG Holdings' 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.