Matson Correlations

MATX Stock

USD 123.71 0.16 0.13%

The current 90-days correlation between Matson Inc and Hafnia Limited is 0.12 (i.e., Average 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 weak diversification

The correlation between Matson Inc and DJI is 0.49 (i.e., Very weak 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 persons.

Moving together with Matson Stock

0.74	SB	Safe Bulkers	Pair Corr
0.66	EDRY	EuroDry	Pair Corr
0.8	DAC	Danaos	Pair Corr
0.81	GNK	Genco Shipping Trading	Pair Corr
0.82	KEX	Kirby	Pair Corr
0.83	ALC	Algoma Central	Pair Corr
0.91	ZIM	ZIM Integrated Shipping	Pair Corr
0.81	GLBS	Globus Maritime	Pair Corr
0.77	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.78	201872	China Merchants Port	Pair Corr
0.79	PSHG	Performance Shipping	Pair Corr
0.84	WTE	Westshore Terminals	Pair Corr
0.72	SHIP	Seanergy Maritime	Pair Corr
0.72	TORO	Toro	Pair Corr
0.89	CMRE	Costamare	Pair Corr
0.67	USEA	United Maritime	Pair Corr
0.84	BYSD	Bayside Corp	Pair Corr
0.92	NRC	National Research Corp	Pair Corr
0.61	INVA	Innoviva	Pair Corr

Moving against Matson Stock

0.92	NCT	Intercont Limited	Pair Corr
0.84	LSH	Lakeside Holding	Pair Corr
0.84	CISS	C3is Inc	Pair Corr
0.58	FSTF	First State Financial	Pair Corr
0.56	OCEA	Ocean Biomedical	Pair Corr
0.38	CDLR	Cadeler AS	Pair Corr
0.35	CCEC	Capital Clean Energy	Pair Corr

Related Correlations Analysis

	HAFN	SEB	SB	AZZ	PLUG	KFY	BWLP	CMBT	KAI
HAFN		-0.38	-0.12	-0.59	0.08	-0.36	0.24	-0.04	-0.51	HAFN
SEB	-0.38		0.86	0.58	-0.79	-0.4	-0.25	0.7	-0.23	SEB
SB	-0.12	0.86		0.42	-0.76	-0.5	-0.22	0.8	-0.25	SB
AZZ	-0.59	0.58	0.42		-0.36	0.25	0.24	0.13	0.44	AZZ
PLUG	0.08	-0.79	-0.76	-0.36		0.58	0.04	-0.56	0.39	PLUG
KFY	-0.36	-0.4	-0.5	0.25	0.58		0.03	-0.47	0.81	KFY
BWLP	0.24	-0.25	-0.22	0.24	0.04	0.03		-0.46	0.02	BWLP
CMBT	-0.04	0.7	0.8	0.13	-0.56	-0.47	-0.46		-0.26	CMBT
KAI	-0.51	-0.23	-0.25	0.44	0.39	0.81	0.02	-0.26		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

SB	+ 0.86	SEB
KAI	+ 0.81	KFY
CMBT	+ 0.8	SB
CMBT	+ 0.7	SEB
AZZ	+ 0.58	SEB
KFY	+ 0.58	PLUG

High negative correlations

PLUG	- 0.79	SEB
PLUG	- 0.76	SB
AZZ	- 0.59	HAFN
CMBT	- 0.56	PLUG
KAI	- 0.51	HAFN
KFY	- 0.5	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	1.44	(0.14)	0.00	(0.45)	0.00	0.00	3.17	(3.64)	9.79
SEB	1.55	0.28	0.13	0.91	1.55	(1.63)	3.03	(3.13)	10.02
SB	1.28	0.08	0.05	0.16	1.34	(1.76)	3.17	(1.81)	13.45
AZZ	1.20	(0.08)	0.00	(0.02)	0.00	0.00	2.72	(2.44)	6.85
PLUG	4.94	(0.17)	0.00	0.01	5.25	(6.07)	9.90	(9.52)	45.84
KFY	1.08	(0.12)	0.00	(0.09)	0.00	0.00	2.44	(2.09)	7.86
BWLP	1.55	(0.11)	0.00	(0.37)	0.00	0.00	3.37	(3.90)	8.94
CMBT	1.73	0.04	0.00	0.73	2.06	(1.83)	3.07	(3.30)	13.20
KAI	1.51	(0.14)	0.00	(0.03)	0.00	0.00	4.03	(3.52)	10.07

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