BEST Correlations

BEST Stock

USD 2.66 0.02 0.75%

The current 90-days correlation between BEST Inc and Schneider National is 0.08 (i.e., Significant diversification). The correlation of BEST 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.

BEST Correlation With Market

Good diversification

The correlation between BEST Inc and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BEST Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BEST 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 state.

Moving together with BEST Stock

0.91	CP	Canadian Pacific Railway	Pair Corr
0.73	FLYX	flyExclusive,	Pair Corr
0.85	CNI	Canadian National Railway Fiscal Year End 28th of January 2025	Pair Corr
0.71	UNP	Union Pacific Fiscal Year End 23rd of January 2025	Pair Corr
0.84	MESA	Mesa Air Group Fiscal Year End 24th of January 2025	Pair Corr

Moving against BEST Stock

0.9	UAL	United Airlines Holdings Fiscal Year End 27th of January 2025	Pair Corr
0.88	AAL	American Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.86	DAL	Delta Air Lines Fiscal Year End 10th of January 2025	Pair Corr
0.81	VLRS	Volaris	Pair Corr
0.81	ALK	Alaska Air Group Fiscal Year End 23rd of January 2025	Pair Corr
0.79	LTM	LATAM Airlines Group	Pair Corr
0.74	CPA	Copa Holdings SA	Pair Corr
0.73	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.65	WERN	Werner Enterprises	Pair Corr
0.63	ULH	Universal Logistics	Pair Corr
0.62	KNX	Knight Transportation Fiscal Year End 22nd of January 2025	Pair Corr
0.58	NSC	Norfolk Southern Fiscal Year End 24th of January 2025	Pair Corr
0.4	CSX	CSX Corporation Aggressive Push	Pair Corr
0.4	RXO	RXO Inc	Pair Corr
0.89	ALGT	Allegiant Travel	Pair Corr
0.88	SKYW	SkyWest	Pair Corr
0.78	XPO	XPO Logistics	Pair Corr
0.78	ATSG	Air Transport Services	Pair Corr
0.75	SAIA	Saia Inc	Pair Corr
0.74	ATCOL	Atlas Corp	Pair Corr
0.74	SNDR	Schneider National	Pair Corr
0.72	ODFL	Old Dominion Freight	Pair Corr
0.38	JBLU	JetBlue Airways Corp	Pair Corr
0.92	AZ	A2Z Smart Technologies	Pair Corr
0.82	B	Barnes Group	Pair Corr
0.78	BR	Broadridge Financial	Pair Corr
0.77	R	Ryder System	Pair Corr

Related Correlations Analysis

	HTLD	USX	ULH	MRTN	WERN	CVLG	SNDR	PTSI	SAIA	TFII
HTLD		-0.25	0.32	0.8	0.38	0.58	0.28	0.14	0.04	0.84	HTLD
USX	-0.25		0.66	-0.26	0.66	0.52	0.77	-0.11	0.83	-0.24	USX
ULH	0.32	0.66		0.4	0.83	0.86	0.87	-0.17	0.82	0.35	ULH
MRTN	0.8	-0.26	0.4		0.35	0.48	0.22	-0.11	0.09	0.74	MRTN
WERN	0.38	0.66	0.83	0.35		0.9	0.92	-0.25	0.83	0.39	WERN
CVLG	0.58	0.52	0.86	0.48	0.9		0.88	-0.15	0.76	0.56	CVLG
SNDR	0.28	0.77	0.87	0.22	0.92	0.88		-0.09	0.93	0.28	SNDR
PTSI	0.14	-0.11	-0.17	-0.11	-0.25	-0.15	-0.09		-0.16	-0.09	PTSI
SAIA	0.04	0.83	0.82	0.09	0.83	0.76	0.93	-0.16		0.13	SAIA
TFII	0.84	-0.24	0.35	0.74	0.39	0.56	0.28	-0.09	0.13		TFII
	HTLD	USX	ULH	MRTN	WERN	CVLG	SNDR	PTSI	SAIA	TFII

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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

SAIA	+ 0.93	SNDR
SNDR	+ 0.92	WERN
CVLG	+ 0.9	WERN
SNDR	+ 0.88	CVLG
SNDR	+ 0.87	ULH
CVLG	+ 0.86	ULH

High negative correlations

MRTN	- 0.26	USX
PTSI	- 0.25	WERN
USX	- 0.25	HTLD
TFII	- 0.24	USX
PTSI	- 0.17	ULH
SAIA	- 0.16	PTSI

Risk-Adjusted Indicators

There is a big difference between BEST Stock performing well and BEST 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 BEST'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
HTLD	1.28	(0.14)	(0.05)	0.02	1.56	(1.40)	2.38	(2.46)	10.96
USX	0.23	0.04	(0.19)	(1.31)	0.17	(0.34)	0.67	(0.50)	1.82
ULH	2.21	0.12	0.11	0.17	2.50	(2.55)	4.82	(2.97)	17.47
MRTN	1.32	(0.21)	0.00	(0.01)	0.00	0.00	2.42	(2.57)	11.37
WERN	1.34	(0.04)	0.00	0.09	1.34	(1.47)	2.80	(2.37)	10.67
CVLG	1.44	(0.05)	0.03	0.09	1.36	(1.61)	3.55	(2.30)	12.53
SNDR	1.13	0.13	0.10	0.24	1.08	(1.24)	2.40	(1.69)	6.88
PTSI	2.79	0.42	0.11	1.95	2.76	(2.99)	5.94	(4.50)	17.32
SAIA	2.27	0.28	0.17	0.26	2.17	(2.67)	5.11	(4.04)	17.45
TFII	1.33	(0.19)	(0.06)	0.01	1.53	(1.45)	2.49	(2.96)	12.09

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