Matson Correlations

MATX Stock

USD 139.80 2.21 1.61%

The current 90-days correlation between Matson Inc and Costamare is 0.28 (i.e., Modest diversification). The correlation of Matson 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.

Matson Correlation With Market

Modest diversification

The correlation between Matson Inc and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matson Inc 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 Matson 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 estimate.

Moving together with Matson Stock

0.63	SB	Safe Bulkers	Pair Corr
0.82	GNK	Genco Shipping Trading	Pair Corr
0.71	KEX	Kirby Earnings Call Today	Pair Corr
0.71	GOGL	Golden Ocean Group Buyout Trend	Pair Corr
0.69	HSHP	Himalaya Shipping	Pair Corr
0.65	SBLK	Star Bulk Carriers	Pair Corr

Moving against Matson Stock

0.57	HAFN	Hafnia Limited	Pair Corr
0.57	HTCO	Caravelle International Symbol Change	Pair Corr
0.74	BA	Boeing	Pair Corr
0.6	B	Barnes Group	Pair Corr
0.52	AP	Ampco Pittsburgh	Pair Corr
0.33	TORO	Toro	Pair Corr

Related Correlations Analysis

	HSHP	CLCO	CMRE	NETI	GSL	NMM	GNK	EGLE	DAC	CPLP
HSHP		0.78	0.91	-0.89	0.78	0.89	0.93	-0.42	0.75	0.36	HSHP
CLCO	0.78		0.63	-0.52	0.8	0.75	0.65	-0.04	0.58	0.15	CLCO
CMRE	0.91	0.63		-0.91	0.81	0.83	0.88	-0.41	0.86	0.44	CMRE
NETI	-0.89	-0.52	-0.91		-0.7	-0.8	-0.86	0.6	-0.71	-0.35	NETI
GSL	0.78	0.8	0.81	-0.7		0.86	0.62	-0.1	0.71	0.3	GSL
NMM	0.89	0.75	0.83	-0.8	0.86		0.72	-0.22	0.7	0.38	NMM
GNK	0.93	0.65	0.88	-0.86	0.62	0.72		-0.62	0.77	0.26	GNK
EGLE	-0.42	-0.04	-0.41	0.6	-0.1	-0.22	-0.62		-0.32	-0.02	EGLE
DAC	0.75	0.58	0.86	-0.71	0.71	0.7	0.77	-0.32		0.25	DAC
CPLP	0.36	0.15	0.44	-0.35	0.3	0.38	0.26	-0.02	0.25		CPLP
	HSHP	CLCO	CMRE	NETI	GSL	NMM	GNK	EGLE	DAC	CPLP

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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

GNK	+ 0.93	HSHP
CMRE	+ 0.91	HSHP
NMM	+ 0.89	HSHP
GNK	+ 0.88	CMRE
DAC	+ 0.86	CMRE
NMM	+ 0.86	GSL

High negative correlations

NETI	- 0.91	CMRE
NETI	- 0.89	HSHP
GNK	- 0.86	NETI
NMM	- 0.8	NETI
DAC	- 0.71	NETI
GSL	- 0.7	NETI

Risk-Adjusted Indicators

There is a big difference between Matson Stock performing well and Matson 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 Matson'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
HSHP	2.13	(0.54)	0.00	(0.92)	0.00	0.00	4.44	(3.87)	15.33
CLCO	1.95	(0.23)	0.00	0.89	0.00	0.00	4.02	(4.68)	16.55
CMRE	1.37	(0.20)	0.00	(0.77)	0.00	0.00	2.24	(3.22)	10.28
NETI	2.44	0.36	0.06	(0.54)	3.18	(2.32)	5.19	(5.41)	11.69
GSL	1.16	(0.14)	0.00	(0.84)	0.00	0.00	2.75	(2.42)	7.98
NMM	1.64	(0.48)	0.00	(8.71)	0.00	0.00	2.93	(3.55)	12.25
GNK	1.44	(0.11)	0.00	(0.24)	0.00	0.00	3.06	(2.67)	9.22
EGLE	1.56	(0.10)	0.00	(1.56)	0.00	0.00	3.14	(3.92)	10.32
DAC	1.13	(0.07)	0.00	(0.11)	0.00	0.00	2.46	(2.53)	8.98
CPLP	1.52	0.07	0.00	5.40	2.13	(1.60)	3.59	(3.04)	14.99

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