Knight Transportation Correlations

KNX Stock

USD 59.20 0.15 0.25%

The current 90-days correlation between Knight Transportation and TFI International is 0.58 (i.e., Very weak diversification). The correlation of Knight Transportation 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.

Knight Transportation Correlation With Market

Almost no diversification

The correlation between Knight Transportation and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knight Transportation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Knight Stock

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

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

Moving together with Knight Stock

0.9	R	Ryder System Earnings Call This Week	Pair Corr
0.97	WERN	Werner Enterprises	Pair Corr
0.64	NMM	Navios Maritime Partners	Pair Corr
0.85	ZIG	ZIGUP plc	Pair Corr
0.83	RXO	RXO Inc	Pair Corr
0.84	ULH	Universal Logistics	Pair Corr
0.71	ZDAI	Primega Group Holdings Symbol Change	Pair Corr
0.98	HTLD	Heartland Express	Pair Corr
0.98	JBHT	JB Hunt Transport	Pair Corr
0.92	LSTR	Landstar System	Pair Corr
0.99	MRTN	Marten Transport	Pair Corr
0.96	ODFL	Old Dominion Freight	Pair Corr
0.8	PAMT	PAMT P Downward Rally	Pair Corr
0.96	SAIA	Saia Inc	Pair Corr
0.93	ARCB	ArcBest Corp	Pair Corr
0.96	SNDR	Schneider National	Pair Corr
0.97	TFII	TFI International	Pair Corr
0.96	CVLG	Covenant Logistics	Pair Corr
0.82	F	Ford Motor Earnings Call This Week	Pair Corr
0.75	ABEV	Ambev SA ADR	Pair Corr
0.8	TORO	Toro	Pair Corr

Moving against Knight Stock

0.83	YGMZ	Mingzhu Logistics	Pair Corr
0.65	RVSNW	Rail Vision	Pair Corr
0.59	HTZWW	Hertz Global Hldgs	Pair Corr
0.55	CRGOW	Freightos Limited	Pair Corr
0.81	GRAB	Grab Holdings Aggressive Push	Pair Corr
0.76	TOPP	Toppoint Holdings	Pair Corr
0.71	ASST	Strive Asset Management Earnings Call Today	Pair Corr
0.42	BTOC	Armlogi Holding Corp	Pair Corr

Related Correlations Analysis

	TFII	SAIA	FSS	SSD	TTC	ESAB	AL	R	RYAAY	ZWS
TFII		0.96	0.67	0.8	0.91	0.86	0.95	0.93	0.5	0.61	TFII
SAIA	0.96		0.67	0.79	0.86	0.85	0.91	0.92	0.43	0.64	SAIA
FSS	0.67	0.67		0.77	0.67	0.77	0.6	0.66	0.16	0.63	FSS
SSD	0.8	0.79	0.77		0.9	0.96	0.82	0.81	0.01	0.77	SSD
TTC	0.91	0.86	0.67	0.9		0.91	0.93	0.85	0.27	0.62	TTC
ESAB	0.86	0.85	0.77	0.96	0.91		0.85	0.87	0.13	0.81	ESAB
AL	0.95	0.91	0.6	0.82	0.93	0.85		0.92	0.44	0.6	AL
R	0.93	0.92	0.66	0.81	0.85	0.87	0.92		0.39	0.77	R
RYAAY	0.5	0.43	0.16	0.01	0.27	0.13	0.44	0.39		0.04	RYAAY
ZWS	0.61	0.64	0.63	0.77	0.62	0.81	0.6	0.77	0.04		ZWS
	TFII	SAIA	FSS	SSD	TTC	ESAB	AL	R	RYAAY	ZWS

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Risk-Adjusted Indicators

There is a big difference between Knight Stock performing well and Knight Transportation 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 Knight Transportation'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
TFII	1.69	0.44	0.19	0.36	1.99	(1.81)	4.15	(2.38)	14.59
SAIA	2.15	0.48	0.23	0.29	1.67	(2.35)	7.28	(2.88)	16.64
FSS	1.15	0.03	0.03	0.08	1.30	(1.22)	2.38	(2.04)	6.54
SSD	1.41	0.22	0.16	0.23	1.20	(1.61)	3.49	(2.17)	6.98
TTC	1.29	0.48	0.43	0.63	0.54	(1.56)	2.94	(1.41)	13.49
ESAB	1.47	0.17	0.11	0.16	1.55	(1.71)	3.91	(2.58)	10.18
AL	0.09	0.01	(0.32)	0.59	0.00	(0.12)	0.23	(0.14)	0.50
R	1.50	0.34	0.18	0.28	1.64	(1.64)	3.79	(3.03)	10.45
RYAAY	1.40	(0.05)	(0.02)	0.01	1.89	(1.34)	2.61	(3.01)	9.49
ZWS	1.04	0.09	0.09	0.14	0.90	(1.25)	2.02	(1.60)	11.53

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