Via Transportation Correlations

VIA Stock

USD 16.51 0.27 1.61%

The current 90-days correlation between Via Transportation and Navan Class A is 0.33 (i.e., Weak diversification). The correlation of Via Transportation 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.

Via Transportation Correlation With Market

Pay attention - limited upside

The correlation between Via Transportation and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Via Transportation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Via Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Via Transportation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade Via Stock refer to our How to Trade Via Stock guide.

Moving together with Via Stock

0.88	KLS	Kelsian Group Earnings Call This Week	Pair Corr
0.7	KLS	Kelso Technologies	Pair Corr
0.8	CY4	KELSIAN GROUP LTD Earnings Call This Week	Pair Corr
0.66	KWO	Transport International	Pair Corr

Moving against Via Stock

0.9	CV5	Covenant Logistics	Pair Corr
0.9	AOMU	ALSTOM SA UNSPADR	Pair Corr
0.9	ODF	Old Dominion Freight	Pair Corr
0.88	AOMD	Alstom SA	Pair Corr
0.87	VOS	Vossloh AG	Pair Corr
0.86	WB2	Westinghouse Air Brake	Pair Corr
0.78	CSX	CSX Corporation Aggressive Push	Pair Corr
0.76	LB1A	LB Foster	Pair Corr
0.76	TNU3	Getlink SE Earnings Call Next Week	Pair Corr
0.72	CNI	Canadian National Railway	Pair Corr
0.68	CP	Canadian Pacific Railway Sell-off Trend	Pair Corr
0.65	NSC	Norfolk Southern	Pair Corr
0.5	MTL	Mullen Group	Pair Corr
0.91	FUY	Fukuyama Transporting	Pair Corr
0.89	HLX	Heartland Express	Pair Corr
0.86	AQY	ArcBest	Pair Corr
0.85	WE1	Werner Enterprises	Pair Corr
0.74	CXR	CSX Corporation	Pair Corr
0.72	UNP	Union Pacific	Pair Corr
0.67	AZJ	Aurizon Holdings	Pair Corr
0.66	CY2	Canadian National Railway	Pair Corr
0.65	JAP	Central Japan Railway	Pair Corr
0.63	UNP	Union Pacific	Pair Corr
0.54	WEJ	West Japan Railway	Pair Corr
0.87	NIP	Nippon Sharyo	Pair Corr
0.83	QRL	Aurizon Holdings	Pair Corr
0.75	UX2A	XPO Logistics	Pair Corr
0.68	MRI	MTR Limited	Pair Corr

Related Correlations Analysis

	COMP	NAVN	ZETA	GBTG	OS	VRNS	WK	DGNX	CLBT	FRSH
COMP		-0.18	0.55	-0.1	0.62	-0.01	-0.3	-0.44	-0.39	-0.2	COMP
NAVN	-0.18		0.55	0.81	-0.3	0.85	0.82	0.33	0.76	0.74	NAVN
ZETA	0.55	0.55		0.61	0.06	0.58	0.34	-0.14	0.36	0.42	ZETA
GBTG	-0.1	0.81	0.61		-0.54	0.85	0.88	0.53	0.84	0.91	GBTG
OS	0.62	-0.3	0.06	-0.54		-0.28	-0.52	-0.69	-0.67	-0.62	OS
VRNS	-0.01	0.85	0.58	0.85	-0.28		0.81	0.27	0.78	0.82	VRNS
WK	-0.3	0.82	0.34	0.88	-0.52	0.81		0.6	0.84	0.93	WK
DGNX	-0.44	0.33	-0.14	0.53	-0.69	0.27	0.6		0.51	0.59	DGNX
CLBT	-0.39	0.76	0.36	0.84	-0.67	0.78	0.84	0.51		0.86	CLBT
FRSH	-0.2	0.74	0.42	0.91	-0.62	0.82	0.93	0.59	0.86		FRSH
	COMP	NAVN	ZETA	GBTG	OS	VRNS	WK	DGNX	CLBT	FRSH

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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

FRSH	+ 0.93	WK
FRSH	+ 0.91	GBTG
WK	+ 0.88	GBTG
FRSH	+ 0.86	CLBT
VRNS	+ 0.85	NAVN
VRNS	+ 0.85	GBTG

High negative correlations

DGNX	- 0.69	OS
CLBT	- 0.67	OS
FRSH	- 0.62	OS
OS	- 0.54	GBTG
WK	- 0.52	OS
DGNX	- 0.44	COMP

Risk-Adjusted Indicators

There is a big difference between Via Stock performing well and Via Transportation 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 Via Transportation'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
COMP	2.24	0.16	0.05	0.24	2.85	(2.93)	5.22	(3.91)	21.55
NAVN	3.95	(0.85)	0.00	(0.31)	0.00	0.00	6.96	(9.32)	21.66
ZETA	3.08	(0.06)	0.00	0.01	4.10	(2.83)	5.97	(6.12)	17.72
GBTG	2.22	(0.49)	0.00	(0.25)	0.00	0.00	4.10	(6.13)	15.25
OS	1.77	0.12	0.02	(0.21)	2.33	(2.19)	3.71	(4.23)	29.32
VRNS	2.40	(0.48)	0.00	(0.39)	0.00	0.00	4.40	(6.17)	17.40
WK	1.67	(0.71)	0.00	(1.52)	0.00	0.00	1.95	(5.93)	12.71
DGNX	7.12	(3.99)	0.00	3.06	0.00	0.00	12.58	(18.42)	49.87
CLBT	2.31	(0.14)	0.00	8.51	0.00	0.00	4.27	(4.30)	25.88
FRSH	2.33	(0.67)	0.00	(0.56)	0.00	0.00	2.99	(6.67)	22.32

Via Transportation Corporate Management

Clara Fain	Chief Officer	Profile
Gabrielle McCaig	Chief Relations	Profile
Stephen Rabalais	Director Relations	Profile
Michael Kuznar	Head Market	Profile
Erin JD	Chief Officer	Profile

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