Matrix Service Correlations

MTRX Stock

USD 14.20 0.12 0.84%

The current 90-days correlation between Matrix Service and Orion Group Holdings is 0.5 (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

Modest diversification

The correlation between Matrix Service Co and DJI is 0.29 (i.e., Modest 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 poverty.

Moving together with Matrix Stock

0.74	VTOL	Bristow Group	Pair Corr
0.8	WTTR	Select Energy Services	Pair Corr
0.71	MATR	Mattr Corp	Pair Corr
0.65	NOA	North American Const	Pair Corr
0.63	SEI	Solaris Energy Infra	Pair Corr

Moving against Matrix Stock

0.35

GIFI

Gulf Island Fabrication

Pair Corr

Related Correlations Analysis

	ORN	AIRO	ZIP	SRTA	CYRX	EVTL	ULH	ESEA	BW	TITN
ORN		0.14	-0.46	0.44	0.45	0.4	0.5	-0.22	0.54	0.15	ORN
AIRO	0.14		-0.23	0.36	0.1	-0.16	0.35	-0.11	-0.1	0.12	AIRO
ZIP	-0.46	-0.23		-0.53	-0.49	-0.1	-0.22	0.56	-0.72	0.11	ZIP
SRTA	0.44	0.36	-0.53		0.67	0.51	0.69	-0.67	0.29	-0.1	SRTA
CYRX	0.45	0.1	-0.49	0.67		0.73	0.73	-0.51	0.46	0.14	CYRX
EVTL	0.4	-0.16	-0.1	0.51	0.73		0.58	-0.26	0.29	-0.15	EVTL
ULH	0.5	0.35	-0.22	0.69	0.73	0.58		-0.45	0.11	0.23	ULH
ESEA	-0.22	-0.11	0.56	-0.67	-0.51	-0.26	-0.45		-0.14	0.27	ESEA
BW	0.54	-0.1	-0.72	0.29	0.46	0.29	0.11	-0.14		0.06	BW
TITN	0.15	0.12	0.11	-0.1	0.14	-0.15	0.23	0.27	0.06		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

EVTL	+ 0.73	CYRX
ULH	+ 0.73	CYRX
ULH	+ 0.69	SRTA
CYRX	+ 0.67	SRTA
ULH	+ 0.58	EVTL
ESEA	+ 0.56	ZIP

High negative correlations

BW	- 0.72	ZIP
ESEA	- 0.67	SRTA
SRTA	- 0.53	ZIP
ESEA	- 0.51	CYRX
CYRX	- 0.49	ZIP
ZIP	- 0.46	ORN

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	2.83	0.51	0.18	0.27	2.63	(3.70)	5.34	(5.52)	25.03
AIRO	4.38	(0.74)	0.00	(0.16)	0.00	0.00	10.18	(11.39)	23.45
ZIP	3.21	(1.04)	0.00	(0.36)	0.00	0.00	5.02	(6.62)	18.26
SRTA	3.00	(0.07)	0.00	0.01	3.53	(3.34)	6.22	(6.74)	23.54
CYRX	2.23	(0.12)	0.00	(0.12)	0.00	0.00	4.90	(4.40)	13.14
EVTL	3.83	0.09	0.02	0.08	5.31	(3.67)	9.38	(6.45)	32.52
ULH	3.45	(0.20)	0.00	(0.02)	0.00	0.00	8.52	(6.63)	18.95
ESEA	1.86	0.06	0.02	0.09	2.66	(1.91)	3.87	(3.78)	13.57
BW	5.09	1.83	0.32	0.86	4.57	(5.97)	13.18	(7.60)	44.19
TITN	2.15	(0.06)	0.00	0.01	2.53	(2.67)	4.51	(4.59)	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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