Matson Correlations

MATX Stock

USD 160.30 0.97 0.60%

The current 90-days correlation between Matson Inc and Hafnia Limited is -0.04 (i.e., Good 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

Very poor diversification

The correlation between Matson Inc and DJI is 0.8 (i.e., Very poor 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.

Build AI portfolio with Matson Stock

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 population.

Moving together with Matson Stock

0.73	SB	Safe Bulkers	Pair Corr
0.93	WTE	Westshore Terminals	Pair Corr
0.67	F	Ford Motor Earnings Call This Week	Pair Corr
0.91	ABEV	Ambev SA ADR	Pair Corr
0.73	GLDG	GoldMining	Pair Corr
0.87	FTAI	FTAI Aviation	Pair Corr
0.83	200447AL4	CFELEC 4688 15	Pair Corr
0.78	VFC	VF Corporation	Pair Corr
0.72	RCAT	Red Cat Holdings	Pair Corr
0.91	ARRJF	Arjo AB	Pair Corr
0.92	GPHOF	Graphite One	Pair Corr
0.65	LNC-PD	Lincoln National Earnings Call This Week	Pair Corr
0.81	ITNF	Internet Infinity	Pair Corr
0.97	KGC	Kinross Gold	Pair Corr
0.91	VTRS	Viatris	Pair Corr
0.93	SON	Sonoco Products	Pair Corr
0.67	WBTNF	Weebit Nano Limited Downward Rally	Pair Corr
0.75	EVGRF	China Evergrande New	Pair Corr
0.85	NOSUF	Nerds on Site	Pair Corr
0.79	TM	Toyota Motor Earnings Call This Week	Pair Corr
0.86	LSBK	Lake Shore Bancorp	Pair Corr
0.63	ANL	Adlai Nortye Trending	Pair Corr
0.68	SILEF	Silver Elephant Mining	Pair Corr

Moving against Matson Stock

0.86	GRAB	Grab Holdings	Pair Corr
0.75	NIO	Nio Class A Aggressive Push	Pair Corr
0.48	ESEA	Euroseas	Pair Corr
0.63	ATMV	ATMV Old Symbol Change	Pair Corr

Related Correlations Analysis

	HAFN	SEB	SB	AZZ	PLUG	KFY	BWLP	CMBT	KAI
HAFN		-0.47	-0.21	-0.38	0.38	-0.46	0.05	0.03	-0.41	HAFN
SEB	-0.47		0.83	0.75	-0.59	0.23	0.38	0.73	0.5	SEB
SB	-0.21	0.83		0.72	-0.3	0.21	0.43	0.86	0.56	SB
AZZ	-0.38	0.75	0.72		-0.11	0.55	0.76	0.8	0.88	AZZ
PLUG	0.38	-0.59	-0.3	-0.11		0.24	0.22	-0.16	0.16	PLUG
KFY	-0.46	0.23	0.21	0.55	0.24		0.25	0.22	0.76	KFY
BWLP	0.05	0.38	0.43	0.76	0.22	0.25		0.68	0.67	BWLP
CMBT	0.03	0.73	0.86	0.8	-0.16	0.22	0.68		0.65	CMBT
KAI	-0.41	0.5	0.56	0.88	0.16	0.76	0.67	0.65		KAI
	HAFN	SEB	SB	AZZ	PLUG	KFY	BWLP	CMBT	KAI

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

KAI	+ 0.88	AZZ
CMBT	+ 0.86	SB
SB	+ 0.83	SEB
CMBT	+ 0.8	AZZ
BWLP	+ 0.76	AZZ
KAI	+ 0.76	KFY

High negative correlations

PLUG	- 0.59	SEB
SEB	- 0.47	HAFN
KFY	- 0.46	HAFN
KAI	- 0.41	HAFN
AZZ	- 0.38	HAFN
PLUG	- 0.3	SB

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
HAFN	1.34	0.03	(0.01)	(0.24)	1.76	(1.37)	2.73	(2.68)	8.51
SEB	1.68	0.64	0.31	(8.89)	1.29	(1.87)	3.16	(3.13)	10.07
SB	1.37	0.35	0.24	0.78	1.03	(1.78)	3.34	(1.72)	13.45
AZZ	1.28	0.30	0.24	0.29	0.98	(1.58)	3.39	(1.98)	8.55
PLUG	4.02	(0.36)	0.00	(0.09)	0.00	0.00	7.91	(8.36)	24.67
KFY	1.15	(0.12)	0.00	(0.08)	0.00	0.00	2.18	(2.19)	6.28
BWLP	1.57	0.40	0.19	(4.46)	1.52	(1.79)	4.02	(2.78)	8.94
CMBT	2.00	0.53	0.24	(45.30)	1.65	(2.45)	4.58	(3.12)	13.21
KAI	1.62	0.09	0.07	0.10	1.69	(1.80)	4.03	(2.93)	10.20

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