Quantitative Analytics Quarterly

Company Comparables: A New Way to Identify Competitors

What does it mean for two things to be similar? Are sector and industry the only way to identify competing companies? In this report, we introduce Morningstar Equity Comparables, a new data point that indicates the level of similarity between companies using a machine-based learning approach.

In this report, you will learn:
  • Why looking beyond sector and industry may provide useful competitor information
  • How a company’s competitor list can change based on Equity Comparables data, using Tesla as an example
  • What company-to-company comparison scores mean for fund diversification

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