Heartland Express Correlations

HTLD Stock

USD 8.33 0.26 3.03%

The current 90-days correlation between Heartland Express and Marten Transport is 0.82 (i.e., Very poor diversification). The correlation of Heartland Express 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.

Heartland Express Correlation With Market

Very weak diversification

The correlation between Heartland Express and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heartland Express and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Heartland Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Heartland Express. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Heartland Stock

0.68	AAL	American Airlines Earnings Call This Week	Pair Corr
0.73	NSC	Norfolk Southern	Pair Corr
0.77	ODFL	Old Dominion Freight Earnings Call This Week	Pair Corr
0.65	RYAAY	Ryanair Holdings PLC Earnings Call This Week	Pair Corr
0.66	SNCY	Sun Country Airlines	Pair Corr
0.8	TFII	TFI International Earnings Call This Week	Pair Corr
0.61	J	Jacobs Solutions	Pair Corr
0.7	R	Ryder System Earnings Call This Week	Pair Corr
0.72	AL	Air Lease	Pair Corr
0.63	AP	Ampco Pittsburgh	Pair Corr
0.65	AZ	A2Z Smart Technologies	Pair Corr
0.65	BA	Boeing	Pair Corr
0.63	BE	Bloom Energy Corp	Pair Corr
0.67	BV	BrightView Holdings	Pair Corr
0.67	BW	Babcock Wilcox Enter	Pair Corr
0.7	BZ	Kanzhun Ltd ADR	Pair Corr
0.84	CP	Canadian Pacific Railway	Pair Corr
0.69	CW	Curtiss Wright	Pair Corr
0.74	DE	Deere Company	Pair Corr
0.65	DY	Dycom Industries	Pair Corr
0.73	FA	First Advantage Corp	Pair Corr
0.66	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.7	HY	Hyster Yale Materials	Pair Corr
0.75	IR	Ingersoll Rand	Pair Corr
0.76	KE	Kimball Electronics	Pair Corr
0.79	LZ	LegalZoom	Pair Corr
0.68	NX	Quanex Building Products	Pair Corr

Moving against Heartland Stock

0.47	MESA	Mesa Air Group	Pair Corr
0.33	FLYX	flyExclusive,	Pair Corr
0.74	MG	Mistras Group	Pair Corr
0.62	NL	NL Industries	Pair Corr
0.41	PC	Premium Catering	Pair Corr

Related Correlations Analysis

	MRTN	WERN	CVLG	ULH	SNDR	KNX	FWRD	LSTR
MRTN		0.49	0.49	0.71	0.64	0.64	0.38	0.84	MRTN
WERN	0.49		0.3	0.71	0.49	0.27	0.49	0.45	WERN
CVLG	0.49	0.3		0.45	0.93	0.95	0.85	0.67	CVLG
ULH	0.71	0.71	0.45		0.62	0.49	0.55	0.72	ULH
SNDR	0.64	0.49	0.93	0.62		0.93	0.9	0.73	SNDR
KNX	0.64	0.27	0.95	0.49	0.93		0.76	0.75	KNX
FWRD	0.38	0.49	0.85	0.55	0.9	0.76		0.46	FWRD
LSTR	0.84	0.45	0.67	0.72	0.73	0.75	0.46		LSTR
	MRTN	WERN	CVLG	ULH	SNDR	KNX	FWRD	LSTR

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Risk-Adjusted Indicators

There is a big difference between Heartland Stock performing well and Heartland Express 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 Heartland Express' 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
MRTN	1.34	(0.19)	0.00	(0.06)	0.00	0.00	3.37	(2.56)	8.95
WERN	1.82	0.07	(0.04)	(0.07)	2.54	(1.97)	4.19	(2.86)	14.28
CVLG	1.78	0.08	0.09	0.18	1.82	(2.20)	4.65	(2.85)	15.19
ULH	2.46	(0.25)	0.00	(0.01)	0.00	0.00	5.19	(4.15)	18.52
SNDR	1.49	0.01	0.02	0.14	1.62	(1.54)	3.47	(2.86)	11.11
KNX	1.71	(0.05)	0.02	0.10	1.80	(2.01)	3.89	(3.45)	13.69
FWRD	3.21	0.71	0.24	0.43	2.74	(3.63)	8.01	(4.99)	25.09
LSTR	1.36	(0.20)	0.00	(0.04)	0.00	0.00	2.88	(2.69)	8.87

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