Kirby Correlations

KEX Stock

USD 130.14 0.16 0.12%

The current 90-days correlation between Kirby and Gates Industrial is 0.23 (i.e., Modest diversification). The correlation of Kirby 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.

Kirby Correlation With Market

Poor diversification

The correlation between Kirby and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kirby and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Kirby Stock

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

For more information on how to buy Kirby Stock please use our How to Invest in Kirby guide.

Moving together with Kirby Stock

0.7	SB	Safe Bulkers	Pair Corr
0.79	36K	Klaveness Combination	Pair Corr
0.65	37H	Global Ship Lease Earnings Call Next Week	Pair Corr
0.64	SBL	Safe Bulkers	Pair Corr
0.78	VOS	Vossloh AG	Pair Corr
0.75	FLNG	FLEX LNG	Pair Corr
0.64	DP4A	AP Mller	Pair Corr
0.81	DAC	Danaos	Pair Corr
0.76	DSX	Diana Shipping	Pair Corr
0.71	ECO	Okeanis Eco Tankers	Pair Corr
0.73	GNK	Genco Shipping Trading	Pair Corr
0.75	GSL	Global Ship Lease	Pair Corr
0.73	PXS	Pyxis Tankers	Pair Corr
0.65	ALC	Algoma Central Earnings Call Next Week	Pair Corr
0.77	ZIM	ZIM Integrated Shipping	Pair Corr
0.67	DP4H	APMOELL MB UADR	Pair Corr
0.63	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.68	DP4B	AP Mller	Pair Corr
0.65	MP2	MPC Container Ships	Pair Corr
0.66	J1X	HIMALAYA SHIPPING LTD	Pair Corr
0.83	B3O	Nordic American Tankers Earnings Call Tomorrow	Pair Corr

Moving against Kirby Stock

0.54	EHLD	Euroholdings Symbol Change	Pair Corr
0.79	ICON	Icon Energy Corp	Pair Corr
0.6	NCT	Intercont Limited Earnings Call This Week	Pair Corr
0.35	T9P	Tianjin Port Development	Pair Corr
0.31	HTCO	Caravelle International	Pair Corr

Related Correlations Analysis

	GTES	GATX	TKR	FBIN	FCN	MSA	MIDD	KBR	SITE	HXL
GTES		0.81	0.92	0.54	-0.32	0.92	0.6	-0.01	0.8	0.88	GTES
GATX	0.81		0.95	0.73	0.16	0.91	0.88	0.22	0.79	0.9	GATX
TKR	0.92	0.95		0.73	-0.03	0.95	0.82	0.19	0.84	0.93	TKR
FBIN	0.54	0.73	0.73		0.37	0.74	0.66	0.51	0.79	0.72	FBIN
FCN	-0.32	0.16	-0.03	0.37		-0.05	0.31	0.47	-0.02	-0.07	FCN
MSA	0.92	0.91	0.95	0.74	-0.05		0.72	0.22	0.93	0.96	MSA
MIDD	0.6	0.88	0.82	0.66	0.31	0.72		0.19	0.56	0.69	MIDD
KBR	-0.01	0.22	0.19	0.51	0.47	0.22	0.19		0.28	0.22	KBR
SITE	0.8	0.79	0.84	0.79	-0.02	0.93	0.56	0.28		0.9	SITE
HXL	0.88	0.9	0.93	0.72	-0.07	0.96	0.69	0.22	0.9		HXL
	GTES	GATX	TKR	FBIN	FCN	MSA	MIDD	KBR	SITE	HXL

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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

HXL	+ 0.96	MSA
TKR	+ 0.95	GATX
MSA	+ 0.95	TKR
HXL	+ 0.93	TKR
SITE	+ 0.93	MSA
TKR	+ 0.92	GTES

High negative correlations

FCN	- 0.32	GTES
HXL	- 0.07	FCN
MSA	- 0.05	FCN
FCN	- 0.03	TKR
SITE	- 0.02	FCN
KBR	- 0.01	GTES

Risk-Adjusted Indicators

There is a big difference between Kirby Stock performing well and Kirby 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 Kirby'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
GTES	1.62	0.31	0.22	0.32	1.31	(2.04)	3.74	(1.96)	10.28
GATX	0.88	0.32	0.35	0.62	0.33	(1.11)	2.06	(1.27)	6.28
TKR	1.35	0.46	0.39	0.39	0.78	(1.67)	3.57	(1.95)	8.45
FBIN	2.20	0.24	0.08	0.23	3.17	(2.44)	5.90	(2.65)	25.45
FCN	1.25	(0.09)	0.00	(0.06)	0.00	0.00	2.48	(2.99)	14.70
MSA	1.15	0.25	0.24	0.35	0.74	(1.40)	3.19	(1.63)	6.97
MIDD	1.47	0.42	0.34	0.41	0.84	(1.87)	3.85	(2.03)	12.68
KBR	1.43	(0.12)	(0.04)	0.00	2.04	(1.64)	3.30	(2.69)	13.34
SITE	1.65	0.11	0.09	0.17	1.49	(1.95)	4.79	(2.91)	12.81
HXL	1.34	0.35	0.18	0.78	1.40	(1.50)	3.15	(2.06)	7.72

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