Norfolk Southern Correlations

NSC Stock

USD 238.57 1.96 0.83%

The current 90-days correlation between Norfolk Southern and Union Pacific is 0.79 (i.e., Poor diversification). The correlation of Norfolk Southern 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.

Norfolk Southern Correlation With Market

Very weak diversification

The correlation between Norfolk Southern and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Norfolk Southern and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Norfolk Stock refer to our How to Trade Norfolk Stock guide.

Moving together with Norfolk Stock

0.83	CP	Canadian Pacific Railway	Pair Corr
0.67	VLRS	Volaris	Pair Corr
0.78	ALK	Alaska Air Group	Pair Corr
0.71	CNI	Canadian National Railway	Pair Corr
0.78	CSX	CSX Corporation	Pair Corr
0.73	DAL	Delta Air Lines Earnings Call This Week	Pair Corr
0.69	KNX	Knight Transportation	Pair Corr
0.69	UAL	United Airlines Holdings	Pair Corr
0.74	UNP	Union Pacific	Pair Corr
0.74	XPO	XPO Logistics	Pair Corr
0.71	HTLD	Heartland Express	Pair Corr
0.81	ODFL	Old Dominion Freight	Pair Corr
0.7	SAIA	Saia Inc	Pair Corr
0.7	SKYW	SkyWest	Pair Corr
0.78	SNCY	Sun Country Airlines	Pair Corr
0.63	AZUL	Azul SA	Pair Corr

Moving against Norfolk Stock

0.52	LUV	Southwest Airlines	Pair Corr
0.31	YGMZ	Mingzhu Logistics	Pair Corr

Related Correlations Analysis

	UNP	CSX	NSC	WAB	CP	TRN	GBX	FSTR
UNP		0.3	0.74	0.15	0.7	0.03	0.03	0.19	UNP
CSX	0.3		0.78	0.71	0.73	0.86	0.8	0.95	CSX
NSC	0.74	0.78		0.68	0.83	0.62	0.57	0.7	NSC
WAB	0.15	0.71	0.68		0.52	0.9	0.89	0.72	WAB
CP	0.7	0.73	0.83	0.52		0.55	0.54	0.65	CP
TRN	0.03	0.86	0.62	0.9	0.55		0.98	0.85	TRN
GBX	0.03	0.8	0.57	0.89	0.54	0.98		0.77	GBX
FSTR	0.19	0.95	0.7	0.72	0.65	0.85	0.77		FSTR
	UNP	CSX	NSC	WAB	CP	TRN	GBX	FSTR

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Risk-Adjusted Indicators

There is a big difference between Norfolk Stock performing well and Norfolk Southern 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 Norfolk Southern'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
UNP	0.92	0.10	0.08	0.07	1.31	(0.91)	1.75	(1.93)	9.43
CSX	0.99	(0.09)	0.00	(0.16)	0.00	0.00	1.58	(2.84)	6.57
NSC	1.03	0.06	0.04	0.02	1.32	(1.08)	2.02	(2.56)	6.43
WAB	1.28	0.01	0.00	(0.04)	0.00	0.00	2.30	(2.74)	12.32
CP	1.46	0.05	0.02	0.00	1.94	(1.47)	3.29	(2.70)	9.92
TRN	1.39	(0.25)	0.00	(0.25)	0.00	0.00	2.50	(3.49)	11.94
GBX	1.48	(0.23)	0.00	(0.27)	0.00	0.00	2.82	(3.36)	9.05
FSTR	2.10	(0.32)	0.00	(0.21)	0.00	0.00	3.23	(4.58)	17.09

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