Matson Correlations

MATX Stock

USD 167.75 3.10 1.88%

The current 90-days correlation between Matson Inc and Hafnia Limited is -0.09 (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 0.84 (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

0.82	SB	Safe Bulkers	Pair Corr
0.93	36K	Klaveness Combination	Pair Corr
0.65	37H	Global Ship Lease	Pair Corr
0.75	SBL	Safe Bulkers	Pair Corr
0.88	VOS	Vossloh AG	Pair Corr
0.65	FLNG	FLEX LNG	Pair Corr
0.75	DP4A	AP Mller	Pair Corr
0.86	DAC	Danaos	Pair Corr
0.88	DSX	Diana Shipping	Pair Corr
0.7	ECO	Okeanis Eco Tankers	Pair Corr
0.86	GNK	Genco Shipping Trading	Pair Corr
0.78	GSL	Global Ship Lease	Pair Corr
0.82	KEX	Kirby	Pair Corr
0.86	PXS	Pyxis Tankers	Pair Corr
0.82	ALC	Algoma Central	Pair Corr
0.72	ZIM	ZIM Integrated Shipping Trending	Pair Corr
0.79	DP4H	APMOELL MB UADR	Pair Corr
0.79	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.8	DP4B	AP Mller	Pair Corr
0.73	MP2	MPC Container Ships Earnings Call This Week	Pair Corr
0.8	J1X	HIMALAYA SHIPPING LTD	Pair Corr
0.82	B3O	Nordic American Tankers Earnings Call This Week	Pair Corr
0.88	BW9	BW LPG Limited	Pair Corr

Moving against Matson Stock

0.74	NCT	Intercont Limited	Pair Corr
0.32	ESEA	Euroseas Earnings Call This Week	Pair Corr
0.94	ICON	Icon Energy Corp	Pair Corr
0.56	HTCO	Caravelle International	Pair Corr
0.54	T9P	Tianjin Port Development	Pair Corr
0.52	W1M	Singapore ShippingLimited	Pair Corr

Related Correlations Analysis

	HAFN	SEB	SB	AZZ	PLUG	KFY	BWLP	CMBT	KAI
HAFN		0.49	0.72	0.56	-0.47	-0.6	0.71	0.75	0.34	HAFN
SEB	0.49		0.83	0.86	-0.19	-0.04	0.83	0.81	0.83	SEB
SB	0.72	0.83		0.86	-0.24	-0.23	0.85	0.93	0.78	SB
AZZ	0.56	0.86	0.86		-0.11	-0.05	0.93	0.88	0.95	AZZ
PLUG	-0.47	-0.19	-0.24	-0.11		0.64	-0.23	-0.17	0.08	PLUG
KFY	-0.6	-0.04	-0.23	-0.05	0.64		-0.2	-0.17	0.2	KFY
BWLP	0.71	0.83	0.85	0.93	-0.23	-0.2		0.9	0.84	BWLP
CMBT	0.75	0.81	0.93	0.88	-0.17	-0.17	0.9		0.8	CMBT
KAI	0.34	0.83	0.78	0.95	0.08	0.2	0.84	0.8		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	+ 0.95	AZZ
CMBT	+ 0.93	SB
BWLP	+ 0.93	AZZ
CMBT	+ 0.9	BWLP
CMBT	+ 0.88	AZZ
AZZ	+ 0.86	SEB

High negative correlations

KFY	- 0.6	HAFN
PLUG	- 0.47	HAFN
PLUG	- 0.24	SB
BWLP	- 0.23	PLUG
KFY	- 0.23	SB
BWLP	- 0.2	KFY

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	1.54	0.24	0.08	(1.70)	1.57	(1.78)	3.43	(2.68)	8.51
SEB	1.62	0.29	0.08	9.77	2.23	(1.58)	3.16	(3.24)	13.15
SB	1.54	0.34	0.21	0.49	1.26	(1.98)	3.50	(2.12)	13.72
AZZ	1.27	0.42	0.36	0.53	0.73	(1.62)	3.25	(1.82)	9.77
PLUG	4.00	(0.35)	0.00	(0.06)	0.00	0.00	9.90	(8.00)	26.07
KFY	1.35	(0.12)	0.00	(0.05)	0.00	0.00	2.91	(2.28)	12.19
BWLP	1.64	0.52	0.26	1.81	1.45	(1.94)	4.28	(2.78)	7.74
CMBT	1.99	0.55	0.24	1.50	1.77	(2.38)	4.58	(3.24)	13.21
KAI	1.61	0.33	0.23	0.27	1.29	(1.87)	3.92	(2.91)	10.59

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