Knight Transportation Correlations
KNX Stock | USD 47.03 0.85 1.84% |
The current 90-days correlation between Knight Transportation and Wingstop is 0.35 (i.e., Weak diversification). The correlation of Knight 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Knight Transportation Correlation With Market
Poor diversification
The correlation between Knight Transportation and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knight Transportation and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Knight Stock
0.92 | AAL | American Airlines Sell-off Trend | PairCorr |
0.84 | ALK | Alaska Air Group Earnings Call This Week | PairCorr |
0.84 | CPA | Copa Holdings SA | PairCorr |
0.84 | DAL | Delta Air Lines Earnings Call Tomorrow | PairCorr |
0.82 | LTM | LATAM Airlines Group | PairCorr |
0.9 | LUV | Southwest Airlines Aggressive Push | PairCorr |
0.79 | NSC | Norfolk Southern | PairCorr |
0.85 | UAL | United Airlines Holdings Earnings Call This Week | PairCorr |
0.93 | ODFL | Old Dominion Freight | PairCorr |
0.73 | RYAAY | Ryanair Holdings PLC | PairCorr |
0.84 | ALGT | Allegiant Travel | PairCorr |
0.87 | SKYW | SkyWest | PairCorr |
0.91 | SNCY | Sun Country Airlines | PairCorr |
0.9 | TFII | TFI International | PairCorr |
0.7 | ULCC | Frontier Group Holdings | PairCorr |
0.83 | J | Jacobs Solutions | PairCorr |
0.93 | R | Ryder System | PairCorr |
0.85 | AL | Air Lease | PairCorr |
0.73 | AP | Ampco Pittsburgh | PairCorr |
0.73 | AZ | A2Z Smart Technologies | PairCorr |
0.83 | BA | Boeing Sell-off Trend | PairCorr |
0.7 | BE | Bloom Energy Corp | PairCorr |
0.63 | BR | Broadridge Financial | PairCorr |
0.82 | BV | BrightView Holdings | PairCorr |
0.78 | BW | Babcock Wilcox Enter | PairCorr |
0.82 | CP | Canadian Pacific Railway | PairCorr |
0.85 | CR | Crane Company | PairCorr |
0.8 | CW | Curtiss Wright | PairCorr |
0.82 | DE | Deere Company | PairCorr |
0.78 | DY | Dycom Industries | PairCorr |
0.84 | FA | First Advantage Corp | PairCorr |
0.65 | GD | General Dynamics | PairCorr |
Moving against Knight Stock
0.6 | G | Genpact Limited | PairCorr |
0.42 | FLYX | flyExclusive, | PairCorr |
0.4 | MESA | Mesa Air Group | PairCorr |
0.38 | SAIA | Saia Inc | PairCorr |
0.7 | MG | Mistras Group | PairCorr |
0.48 | NL | NL Industries | PairCorr |
Related Correlations Analysis
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CHMN | ||
0.0 | 0.83 | 0.13 | 0.42 | 0.56 | 0.05 | CPPKF | ||
0.0 | 0.83 | 0.48 | 0.48 | 0.82 | 0.21 | MARIF | ||
0.0 | 0.13 | 0.48 | 0.55 | 0.73 | 0.73 | WING | ||
0.0 | 0.42 | 0.48 | 0.55 | 0.54 | 0.32 | PK | ||
0.0 | 0.56 | 0.82 | 0.73 | 0.54 | 0.46 | PLAY | ||
0.0 | 0.05 | 0.21 | 0.73 | 0.32 | 0.46 | PMNXF | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Knight Stock performing well and Knight 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 Knight 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
CHMN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
CPPKF | 2.35 | 0.49 | 0.13 | 4.67 | 2.19 | 6.90 | 12.82 | |||
MARIF | 2.52 | 1.06 | 0.29 | 2.47 | 1.47 | 6.05 | 23.80 | |||
WING | 2.38 | 0.47 | 0.19 | 0.54 | 2.02 | 6.96 | 20.40 | |||
PK | 2.02 | (0.05) | 0.00 | 0.04 | 2.92 | 4.11 | 20.08 | |||
PLAY | 3.37 | 0.86 | 0.26 | 0.85 | 2.61 | 9.24 | 22.98 | |||
PMNXF | 1.98 | 0.18 | 0.03 | (5.43) | 2.63 | 5.77 | 13.58 |