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.

Build AI portfolio with Matson Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Matson Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Matson Stock

0.81

ZIM

ZIM Integrated Shipping

Pair Corr

Moving against Matson Stock

0.34	HMR	Heidmar Maritime Holdings	Pair Corr
0.63	HTCO	Caravelle International Symbol Change	Pair Corr
0.31	UFG	Uni Fuels Holdings	Pair Corr

Related Correlations Analysis

	KEX	DAC	CMRE	CLCO	ARCB	ATKR
KEX		0.92	0.34	0.8	0.81	0.82	KEX
DAC	0.92		0.47	0.81	0.82	0.85	DAC
CMRE	0.34	0.47		0.45	0.53	0.42	CMRE
CLCO	0.8	0.81	0.45		0.66	0.62	CLCO
ARCB	0.81	0.82	0.53	0.66		0.92	ARCB
ATKR	0.82	0.85	0.42	0.62	0.92		ATKR
	KEX	DAC	CMRE	CLCO	ARCB	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	(1.28)	3.26	(1.69)	7.14
DAC	1.19	0.22	0.05	0.77	1.13	(1.35)	2.81	(2.02)	8.35
CMRE	2.08	0.12	0.01	0.41	4.56	(2.15)	4.66	(2.98)	28.15
CLCO	1.90	0.25	0.03	1.39	2.21	(1.90)	3.72	(4.20)	11.26
ARCB	2.51	(0.03)	0.12	0.22	2.45	(2.99)	6.05	(4.02)	18.84
ATKR	1.71	0.08	0.18	0.28	1.19	(2.12)	4.02	(2.16)	15.01

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