Kirby Correlations

KEX Stock

USD 117.73 4.44 3.63%

The current 90-days correlation between Kirby and Gates Industrial is -0.14 (i.e., Good 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 0.71 (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

0.81	SB	Safe Bulkers	Pair Corr
0.73	DSX	Diana Shipping	Pair Corr
0.71	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.87	MATX	Matson Inc	Pair Corr
0.73	PANL	Pangaea Logistic	Pair Corr
0.81	WTE	Westshore Terminals	Pair Corr
0.81	TENX	Tenax Therapeutics	Pair Corr
0.79	BAER	Bridger Aerospace	Pair Corr
0.83	CNIKF	Canada Nickel	Pair Corr
0.86	GEFB	Greif Inc	Pair Corr
0.75	PDPA	Pearl Diver Credit	Pair Corr
0.74	CBCY	Central Bancompany	Pair Corr
0.83	ABBRF	AbraSilver Resource Corp	Pair Corr
0.67	GULRY	Guoco Group	Pair Corr
0.66	F	Ford Motor Earnings Call This Week	Pair Corr
0.61	INSE	Inspired Entertainment	Pair Corr
0.64	MS-PE	Morgan Stanley	Pair Corr
0.82	PGAC	Pantages Capital Acq Symbol Change	Pair Corr
0.75	BAFBF	Balfour Beatty plc	Pair Corr
0.71	NREF	Nexpoint Real Estate	Pair Corr
0.7	AGCC	Agencia Comercial Spirits	Pair Corr
0.76	TVAI	Thayer Ventures Acqu	Pair Corr
0.74	MRZLF	Mirasol Resources	Pair Corr

Moving against Kirby Stock

0.69	ROBOF	RoboGroup TEK	Pair Corr
0.69	EQC	Equity Commonwealth	Pair Corr
0.38	CDIV	Cascadia Investments	Pair Corr
0.35	IMTE	Integrated Media Tec	Pair Corr

Related Correlations Analysis

	GTES	GATX	TKR	FBIN	FCN	MSA	MIDD	KBR	SITE	HXL
GTES		0.11	0.03	0.32	0.07	0.41	0.1	0.38	0.19	0.17	GTES
GATX	0.11		0.95	0.81	0.92	0.8	0.89	0.41	0.68	0.86	GATX
TKR	0.03	0.95		0.82	0.88	0.79	0.84	0.51	0.75	0.88	TKR
FBIN	0.32	0.81	0.82		0.76	0.92	0.69	0.66	0.84	0.82	FBIN
FCN	0.07	0.92	0.88	0.76		0.74	0.86	0.35	0.63	0.76	FCN
MSA	0.41	0.8	0.79	0.92	0.74		0.62	0.62	0.85	0.83	MSA
MIDD	0.1	0.89	0.84	0.69	0.86	0.62		0.32	0.45	0.66	MIDD
KBR	0.38	0.41	0.51	0.66	0.35	0.62	0.32		0.56	0.51	KBR
SITE	0.19	0.68	0.75	0.84	0.63	0.85	0.45	0.56		0.84	SITE
HXL	0.17	0.86	0.88	0.82	0.76	0.83	0.66	0.51	0.84		HXL
	GTES	GATX	TKR	FBIN	FCN	MSA	MIDD	KBR	SITE	HXL

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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	1.60	(0.19)	0.00	(0.41)	0.00	0.00	2.97	(3.08)	13.17
GATX	0.90	0.16	0.11	1.69	0.84	(1.06)	1.96	(1.90)	4.30
TKR	1.29	0.21	0.18	0.18	1.06	(1.61)	3.38	(2.13)	8.44
FBIN	1.81	0.11	0.04	0.71	1.77	(2.18)	5.20	(2.91)	10.57
FCN	1.05	0.12	0.08	0.22	1.04	(1.17)	2.48	(2.05)	8.69
MSA	1.25	0.08	0.02	0.66	1.62	(1.43)	3.11	(2.05)	11.36
MIDD	1.53	0.16	0.08	0.35	1.58	(1.88)	3.85	(3.10)	12.68
KBR	1.28	(0.07)	0.00	(0.01)	0.00	0.00	3.22	(2.79)	10.41
SITE	1.50	0.15	0.10	0.16	1.39	(1.71)	4.79	(2.78)	11.12
HXL	1.33	0.22	0.10	0.59	1.62	(1.36)	2.82	(2.67)	7.72

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