Matson Correlations
MATX Stock | USD 108.79 0.15 0.14% |
The current 90-days correlation between Matson Inc and Kirby is 0.57 (i.e., Very weak diversification). The correlation of Matson 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Matson Correlation With Market
Poor diversification
The correlation between Matson Inc and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matson Inc and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Matson Stock
Moving against Matson Stock
0.34 | HMR | Heidmar Maritime Holdings | PairCorr |
0.63 | HTCO | Caravelle International Symbol Change | PairCorr |
0.31 | UFG | Uni Fuels Holdings | PairCorr |
Related Correlations Analysis
0.92 | 0.34 | 0.8 | 0.81 | 0.82 | KEX | ||
0.92 | 0.47 | 0.81 | 0.82 | 0.85 | DAC | ||
0.34 | 0.47 | 0.45 | 0.53 | 0.42 | CMRE | ||
0.8 | 0.81 | 0.45 | 0.66 | 0.62 | CLCO | ||
0.81 | 0.82 | 0.53 | 0.66 | 0.92 | ARCB | ||
0.82 | 0.85 | 0.42 | 0.62 | 0.92 | ATKR | ||
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Risk-Adjusted Indicators
There is a big difference between Matson Stock performing well and Matson 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 Matson'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
KEX | 1.09 | 0.06 | 0.10 | 0.28 | 0.61 | 3.26 | 7.14 | |||
DAC | 1.19 | 0.22 | 0.05 | 0.77 | 1.13 | 2.81 | 8.35 | |||
CMRE | 2.08 | 0.12 | 0.01 | 0.41 | 4.56 | 4.66 | 28.15 | |||
CLCO | 1.90 | 0.25 | 0.03 | 1.39 | 2.21 | 3.72 | 11.26 | |||
ARCB | 2.51 | (0.03) | 0.12 | 0.22 | 2.45 | 6.05 | 18.84 | |||
ATKR | 1.71 | 0.08 | 0.18 | 0.28 | 1.19 | 4.02 | 15.01 |