ArcBest Corp Correlations

ARCB Stock

USD 71.80 0.05 0.07%

The current 90-days correlation between ArcBest Corp and Old Dominion Freight is 0.68 (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

Weak diversification

The correlation between ArcBest Corp and DJI is 0.36 (i.e., 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.

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

0.96	WERN	Werner Enterprises	Pair Corr
0.93	HTLD	Heartland Express	Pair Corr
0.86	J	Jacobs Solutions	Pair Corr
0.67	R	Ryder System	Pair Corr
0.92	BV	BrightView Holdings	Pair Corr
0.87	BW	Babcock Wilcox Enter	Pair Corr
0.83	CW	Curtiss Wright	Pair Corr
0.77	DY	Dycom Industries	Pair Corr
0.85	FA	First Advantage Corp	Pair Corr
0.71	FC	Franklin Covey Earnings Call This Week	Pair Corr
0.78	HI	Hillenbrand	Pair Corr
0.82	HY	Hyster Yale Materials	Pair Corr
0.9	IR	Ingersoll Rand	Pair Corr
0.74	KE	Kimball Electronics	Pair Corr
0.87	OP	Oceanpal	Pair Corr
0.7	TG	Tredegar	Pair Corr
0.84	TH	Target Hospitality Corp	Pair Corr

Moving against ArcBest Stock

0.77	BZ	Kanzhun Ltd ADR	Pair Corr
0.68	EH	Ehang Holdings Downward Rally	Pair Corr
0.58	CPA	Copa Holdings SA	Pair Corr
0.49	GE	GE Aerospace	Pair Corr
0.46	DE	Deere Company	Pair Corr
0.78	DMYY	dMY Squared Technology	Pair Corr
0.77	VACH	Voyager Acquisition Corp	Pair Corr
0.65	LZ	LegalZoom	Pair Corr
0.63	SB	Safe Bulkers	Pair Corr
0.62	WM	Waste Management	Pair Corr
0.56	PC	Premium Catering	Pair Corr
0.4	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	ODFL	MRTN	WERN	KNX	HTLD	ULH	PTSI	SNDR	SAIA
ODFL		0.63	0.67	0.7	0.8	0.32	0.0	0.62	0.83	ODFL
MRTN	0.63		0.97	0.79	0.88	0.85	0.0	0.92	0.88	MRTN
WERN	0.67	0.97		0.89	0.93	0.87	0.0	0.97	0.92	WERN
KNX	0.7	0.79	0.89		0.92	0.75	0.0	0.91	0.9	KNX
HTLD	0.8	0.88	0.93	0.92		0.77	0.0	0.93	0.97	HTLD
ULH	0.32	0.85	0.87	0.75	0.77		0.0	0.9	0.76	ULH
PTSI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	PTSI
SNDR	0.62	0.92	0.97	0.91	0.93	0.9	0.0		0.92	SNDR
SAIA	0.83	0.88	0.92	0.9	0.97	0.76	0.0	0.92		SAIA
	ODFL	MRTN	WERN	KNX	HTLD	ULH	PTSI	SNDR	SAIA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

WERN	+ 0.97	MRTN
SNDR	+ 0.97	WERN
SAIA	+ 0.97	HTLD
HTLD	+ 0.93	WERN
SNDR	+ 0.93	HTLD
SNDR	+ 0.92	MRTN

High negative correlations

SAIA	- 0.0	PTSI
SNDR	- 0.0	PTSI
PTSI	- 0.0	ULH
PTSI	- 0.0	HTLD
PTSI	- 0.0	KNX
PTSI	- 0.0	WERN

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ODFL	1.55	(0.25)	(0.31)	2.33	(3.62)	13.98
MRTN	1.24	(0.30)	(0.59)	2.82	(2.68)	7.62
WERN	1.33	(0.40)	(0.57)	2.35	(2.98)	8.47
KNX	1.39	(0.25)	(0.31)	2.97	(2.70)	8.09
HTLD	1.43	(0.30)	(0.48)	2.61	(3.03)	8.33
ULH	2.28	(0.71)	(0.51)	3.82	(5.35)	23.09
PTSI	0.00	0.00	0.00	0.00	0.00	0.00
SNDR	1.23	(0.38)	(0.48)	1.84	(3.06)	7.76
SAIA	2.27	(0.46)	(0.39)	3.58	(4.72)	15.36

ArcBest Corp Corporate Management

Jason Parks	Controller VP	Profile
Traci Sowersby	Chief Accounting Officer, VP and Controller	Profile
Amy Mendenhall	Vice Treasurer	Profile
David Cobb	Chief Officer	Profile
Michael CPA	Chief Secretary	Profile

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

2024 Macroaxis LLC