Matrix Service Correlations

MTRX Stock

USD 11.72 0.49 4.01%

The current 90-days correlation between Matrix Service and Orion Group Holdings is 0.55 (i.e., Very weak diversification). The correlation of Matrix Service 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.

Matrix Service Correlation With Market

Very weak diversification

The correlation between Matrix Service Co and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Matrix Service Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Matrix Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Matrix Service Co. 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 Matrix Stock

0.77	VTOL	Bristow Group	Pair Corr
0.71	ESOA	Energy Services	Pair Corr
0.68	WTTR	Select Energy Services	Pair Corr
0.79	MATR	Mattr Corp	Pair Corr
0.67	NOA	North American Const	Pair Corr
0.65	NOA	North American Const	Pair Corr
0.7	GEOS	Geospace Technologies	Pair Corr

Moving against Matrix Stock

0.63	CEU	CES Energy Solutions	Pair Corr
0.61	0NIS	SBM Offshore NV	Pair Corr
0.41	DTI	Drilling Tools Inter	Pair Corr
0.39	002353	Yantai Jereh Oilfield	Pair Corr
0.35	FLOC	Flowco Holdings	Pair Corr
0.56	NGS	Natural Gas Services	Pair Corr
0.55	SND	Smart Sand	Pair Corr
0.46	TDW	Tidewater	Pair Corr
0.45	FTI	TechnipFMC PLC	Pair Corr
0.34	FET	Forum Energy Technologies	Pair Corr
0.33	NOV	NOV Inc	Pair Corr
0.33	RES	RPC Inc	Pair Corr
0.33	TTI	Tetra Technologies	Pair Corr
0.32	OII	Oceaneering International	Pair Corr
0.73	GIFI	Gulf Island Fabrication	Pair Corr
0.47	HWO	High Arctic Energy	Pair Corr

Related Correlations Analysis

	ORN	AIRO	ZIP	SRTA	CYRX	EVTL	ULH	ESEA	BW	TITN
ORN		-0.57	0.37	0.02	-0.21	0.21	-0.46	0.26	0.47	0.23	ORN
AIRO	-0.57		-0.22	0.39	0.29	-0.04	0.75	-0.26	-0.8	-0.13	AIRO
ZIP	0.37	-0.22		-0.28	0.06	0.21	-0.07	0.49	0.16	0.39	ZIP
SRTA	0.02	0.39	-0.28		0.43	0.36	0.51	-0.55	-0.36	-0.24	SRTA
CYRX	-0.21	0.29	0.06	0.43		0.54	0.64	-0.38	-0.4	-0.06	CYRX
EVTL	0.21	-0.04	0.21	0.36	0.54		0.4	-0.08	-0.01	-0.19	EVTL
ULH	-0.46	0.75	-0.07	0.51	0.64	0.4		-0.41	-0.77	-0.07	ULH
ESEA	0.26	-0.26	0.49	-0.55	-0.38	-0.08	-0.41		0.49	0.43	ESEA
BW	0.47	-0.8	0.16	-0.36	-0.4	-0.01	-0.77	0.49		0.1	BW
TITN	0.23	-0.13	0.39	-0.24	-0.06	-0.19	-0.07	0.43	0.1		TITN
	ORN	AIRO	ZIP	SRTA	CYRX	EVTL	ULH	ESEA	BW	TITN

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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

ULH	+ 0.75	AIRO
ULH	+ 0.64	CYRX
EVTL	+ 0.54	CYRX
ULH	+ 0.51	SRTA
ESEA	+ 0.49	ZIP
BW	+ 0.49	ESEA

High negative correlations

BW	- 0.8	AIRO
BW	- 0.77	ULH
AIRO	- 0.57	ORN
ESEA	- 0.55	SRTA
ULH	- 0.46	ORN
ESEA	- 0.41	ULH

Risk-Adjusted Indicators

There is a big difference between Matrix Stock performing well and Matrix Service 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 Matrix Service'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
ORN	2.81	0.20	0.08	0.16	3.17	(3.24)	5.20	(5.71)	25.03
AIRO	4.22	(0.99)	0.00	(0.18)	0.00	0.00	9.60	(11.39)	29.03
ZIP	3.00	(0.36)	0.00	(0.09)	0.00	0.00	4.91	(6.30)	20.67
SRTA	3.14	0.00	0.04	0.06	3.16	(3.92)	9.48	(5.92)	20.66
CYRX	2.57	0.15	0.04	0.26	3.41	(2.86)	6.39	(5.51)	20.48
EVTL	3.83	0.05	0.02	0.09	5.24	(3.70)	9.38	(6.45)	32.52
ULH	3.44	(0.54)	0.00	(0.11)	0.00	0.00	8.52	(7.47)	18.10
ESEA	1.90	(0.09)	0.00	(0.01)	0.00	0.00	3.91	(4.93)	18.11
BW	5.36	1.19	0.19	0.51	5.50	(5.76)	9.91	(8.36)	44.19
TITN	1.98	(0.22)	0.00	(0.03)	0.00	0.00	4.44	(4.05)	27.01

Matrix Service Corporate Management

Justin JD	General VP	Profile
Kevin Durkin	VP Officer	Profile
Rick Bennett	CIO and VP	Profile
Kellie Smythe	Marketing Relations	Profile

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