ArcBest Correlations

AQY Stock

EUR 67.50 0.50 0.75%

The current 90-days correlation between ArcBest and Old Dominion Freight is 0.55 (i.e., Very weak diversification). The correlation of ArcBest 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.

ArcBest Correlation With Market

Significant diversification

The correlation between ArcBest and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ArcBest and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ArcBest could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ArcBest when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ArcBest - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ArcBest to buy it.

Moving together with ArcBest Stock

0.81	SNIA	SCHNEIDER NATLINC CLB	Pair Corr
0.71	FGR	FirstGroup plc	Pair Corr
0.89	TEY	Teradyne	Pair Corr
0.82	PZXB	PING AN INSURANCH	Pair Corr
0.89	2C6	China Development Bank	Pair Corr
0.62	AG8	AGILENT TECH	Pair Corr
0.63	JOT	ELEKTROBIT	Pair Corr
0.87	HEI	Heidelberg Materials	Pair Corr
0.68	KGHA	KGHM Polska Miedz	Pair Corr
0.94	FA2	FORWARD AIR P	Pair Corr
0.64	DSG	DICKS Sporting Goods	Pair Corr

Moving against ArcBest Stock

0.76	XSE	Seino Holdings	Pair Corr
0.63	03F	IDP EDUCATION LTD	Pair Corr
0.51	FUY	Fukuyama Transporting	Pair Corr
0.33	ALV	Allianz SE	Pair Corr
0.53	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	ODF	YTT	SQR	SNIA	WE1	AQY	XSE	HLX	FUY	FGR
ODF		0.0	0.12	0.7	0.25	0.39	-0.1	0.74	-0.19	0.01	ODF
YTT	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	YTT
SQR	0.12	0.0		0.03	0.58	0.1	0.19	0.17	0.4	-0.22	SQR
SNIA	0.7	0.0	0.03		0.45	0.81	-0.61	0.73	-0.49	0.5	SNIA
WE1	0.25	0.0	0.58	0.45		0.46	-0.21	0.44	0.08	0.12	WE1
AQY	0.39	0.0	0.1	0.81	0.46		-0.76	0.47	-0.51	0.71	AQY
XSE	-0.1	0.0	0.19	-0.61	-0.21	-0.76		-0.48	0.84	-0.75	XSE
HLX	0.74	0.0	0.17	0.73	0.44	0.47	-0.48		-0.54	0.23	HLX
FUY	-0.19	0.0	0.4	-0.49	0.08	-0.51	0.84	-0.54		-0.72	FUY
FGR	0.01	0.0	-0.22	0.5	0.12	0.71	-0.75	0.23	-0.72		FGR
	ODF	YTT	SQR	SNIA	WE1	AQY	XSE	HLX	FUY	FGR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

FUY	+ 0.84	XSE
AQY	+ 0.81	SNIA
HLX	+ 0.74	ODF
HLX	+ 0.73	SNIA
FGR	+ 0.71	AQY
SNIA	+ 0.7	ODF

High negative correlations

XSE	- 0.76	AQY
FGR	- 0.75	XSE
FGR	- 0.72	FUY
XSE	- 0.61	SNIA
FUY	- 0.54	HLX
FUY	- 0.51	AQY

Risk-Adjusted Indicators

There is a big difference between ArcBest Stock performing well and ArcBest 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 ArcBest'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
ODF	1.59	0.12	(0.03)	(0.32)	1.67	(2.11)	4.42	(2.33)	13.22
YTT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SQR	2.63	(0.08)	0.00	0.62	0.00	0.00	4.31	(4.39)	34.58
SNIA	1.78	0.19	0.02	(0.70)	1.70	(2.44)	4.30	(2.91)	11.57
WE1	1.87	0.03	0.00	0.05	0.00	0.00	4.19	(3.28)	11.73
AQY	2.60	0.37	0.08	8.33	2.55	(3.68)	6.36	(4.42)	17.04
XSE	0.73	(0.11)	0.00	10.20	0.00	0.00	1.47	(1.53)	5.38
HLX	1.98	0.08	(0.04)	(0.04)	2.20	(2.45)	4.83	(3.34)	13.64
FUY	1.10	(0.07)	0.00	0.49	0.00	0.00	2.04	(2.04)	10.20
FGR	1.19	0.44	0.30	1.10	0.61	(1.61)	2.43	(1.89)	14.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in ArcBest without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Pattern Recognition Now

Pattern Recognition

Use different Pattern Recognition models to time the market across multiple global exchanges

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC