ArcBest Corp Correlations

ARCB Stock

USD 81.89 3.51 4.48%

The current 90-days correlation between ArcBest Corp and Saia Inc is 0.76 (i.e., Poor diversification). The correlation of ArcBest Corp 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 Corp Correlation With Market

Very weak diversification

The correlation between ArcBest Corp and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ArcBest Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ArcBest Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ArcBest Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

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

Moving together with ArcBest Stock

0.68	AAL	American Airlines Earnings Call This Week	Pair Corr
0.86	NSC	Norfolk Southern Earnings Call This Week	Pair Corr
0.66	ODFL	Old Dominion Freight	Pair Corr
0.72	RYAAY	Ryanair Holdings PLC	Pair Corr
0.72	SNCY	Sun Country Airlines	Pair Corr
0.76	SRFM	Surf Air Mobility	Pair Corr
0.81	TFII	TFI International Earnings Call Tomorrow	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.94	R	Ryder System Earnings Call This Week	Pair Corr
0.89	DIST	Distoken Acquisition	Pair Corr
0.66	AL	Air Lease	Pair Corr
0.84	AZ	A2Z Smart Technologies	Pair Corr
0.73	BA	Boeing Earnings Call This Week	Pair Corr
0.89	BE	Bloom Energy Corp Earnings Call Next Week	Pair Corr
0.7	BW	Babcock Wilcox Enter	Pair Corr
0.68	BZ	Kanzhun Ltd ADR	Pair Corr
0.79	CR	Crane Company Earnings Call This Week	Pair Corr
0.78	CW	Curtiss Wright	Pair Corr
0.76	DY	Dycom Industries	Pair Corr
0.91	GD	General Dynamics Earnings Call Tomorrow	Pair Corr
0.73	GE	GE Aerospace	Pair Corr
0.61	HY	Hyster Yale Materials	Pair Corr
0.84	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.76	KE	Kimball Electronics	Pair Corr
0.86	NX	Quanex Building Products	Pair Corr

Moving against ArcBest Stock

0.78	FLYX	flyExclusive,	Pair Corr
0.41	MESA	Mesa Air Group	Pair Corr
0.79	PC	Premium Catering	Pair Corr
0.75	NL	NL Industries	Pair Corr
0.58	GP	GreenPower Motor	Pair Corr
0.38	MG	Mistras Group Earnings Call This Week	Pair Corr
0.38	RR	Richtech Robotics Class Aggressive Push	Pair Corr

Related Correlations Analysis

	SAIA	MRTN	TFII	ULH	HTLD	HUBG	SNDR	WERN
SAIA		0.36	-0.08	0.71	0.22	0.24	0.12	0.47	SAIA
MRTN	0.36		0.45	0.6	0.61	0.67	0.64	0.69	MRTN
TFII	-0.08	0.45		0.48	0.8	0.82	0.84	0.34	TFII
ULH	0.71	0.6	0.48		0.64	0.65	0.58	0.71	ULH
HTLD	0.22	0.61	0.8	0.64		0.84	0.74	0.42	HTLD
HUBG	0.24	0.67	0.82	0.65	0.84		0.75	0.4	HUBG
SNDR	0.12	0.64	0.84	0.58	0.74	0.75		0.62	SNDR
WERN	0.47	0.69	0.34	0.71	0.42	0.4	0.62		WERN
	SAIA	MRTN	TFII	ULH	HTLD	HUBG	SNDR	WERN

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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

SNDR	+ 0.84	TFII
HUBG	+ 0.84	HTLD
HUBG	+ 0.82	TFII
HTLD	+ 0.8	TFII
SNDR	+ 0.75	HUBG
SNDR	+ 0.74	HTLD

High negative correlations

TFII

- 0.08

SAIA

Risk-Adjusted Indicators

There is a big difference between ArcBest Stock performing well and ArcBest Corp 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 Corp'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
SAIA	2.71	(0.35)	0.00	(0.05)	0.00	0.00	5.04	(3.47)	35.70
MRTN	1.34	(0.04)	0.00	0.36	0.00	0.00	3.37	(2.56)	8.95
TFII	1.53	0.04	0.05	0.16	1.60	(1.86)	2.77	(3.16)	13.33
ULH	2.43	(0.23)	(0.04)	0.00	3.35	(2.44)	5.19	(4.15)	18.52
HTLD	1.85	(0.09)	(0.04)	0.05	1.93	(2.18)	4.30	(3.07)	14.53
HUBG	1.72	(0.14)	(0.03)	0.05	2.02	(1.76)	3.42	(3.28)	12.32
SNDR	1.49	0.21	0.02	(0.63)	1.62	(1.54)	3.47	(2.86)	11.11
WERN	1.83	0.02	0.00	0.06	0.00	0.00	4.19	(2.86)	14.28

ArcBest Corp Corporate Management

Jason Parks	Controller VP	Profile
Marc Weidner	Chief Officer	Profile
Amy Mendenhall	Vice Treasurer	Profile
David Cobb	Chief Officer	Profile
Michael CPA	Chief Secretary	Profile

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