Covenant Logistics Correlations
| CVLG Stock | USD 22.68 0.43 1.86% |
The current 90-days correlation between Covenant Logistics Group, and Marten Transport is 0.27 (i.e., Modest diversification). The correlation of Covenant Logistics 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.
Covenant Logistics Correlation With Market
Good diversification
The correlation between Covenant Logistics Group, and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Covenant Logistics Group, and DJI in the same portfolio, assuming nothing else is changed.
Covenant |
Moving together with Covenant Stock
Moving against Covenant Stock
| 0.8 | ATSG | Air Transport Services | PairCorr |
| 0.67 | CPA | Copa Holdings SA | PairCorr |
| 0.63 | G | Genpact Limited | PairCorr |
| 0.61 | FLYX | flyExclusive, | PairCorr |
| 0.55 | LTM | LATAM Airlines Group | PairCorr |
| 0.45 | RYAAY | Ryanair Holdings PLC | PairCorr |
| 0.33 | AZUL | Azul SA Earnings Call Today | PairCorr |
| 0.73 | GE | GE Aerospace | PairCorr |
| 0.69 | MG | Mistras Group | PairCorr |
| 0.61 | LZ | LegalZoom | PairCorr |
| 0.6 | DE | Deere Company | PairCorr |
| 0.55 | EH | Ehang Holdings | PairCorr |
| 0.48 | CP | Canadian Pacific Railway | PairCorr |
Related Correlations Analysis
| 0.97 | 0.86 | 0.93 | 0.88 | 0.0 | MRTN | ||
| 0.97 | 0.86 | 0.97 | 0.93 | 0.0 | WERN | ||
| 0.86 | 0.86 | 0.86 | 0.77 | 0.0 | ULH | ||
| 0.93 | 0.97 | 0.86 | 0.93 | 0.0 | SNDR | ||
| 0.88 | 0.93 | 0.77 | 0.93 | 0.0 | HTLD | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | PTSI | ||
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Covenant Stock performing well and Covenant Logistics 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 Covenant Logistics' 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 | 1.26 | (0.29) | 0.00 | 1.79 | 0.00 | 2.82 | 7.62 | |||
| WERN | 1.35 | (0.36) | 0.00 | 4.37 | 0.00 | 2.35 | 8.47 | |||
| ULH | 2.35 | (0.82) | 0.00 | (0.42) | 0.00 | 3.82 | 23.09 | |||
| SNDR | 1.24 | (0.40) | 0.00 | 1.28 | 0.00 | 2.27 | 7.76 | |||
| HTLD | 1.48 | (0.32) | 0.00 | (0.35) | 0.00 | 2.65 | 8.35 | |||
| PTSI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Covenant Logistics Corporate Management
| Brande Tweed | Senior Improvement | Profile | |
| Matisse Long | Chief Officer | Profile | |
| Tyson Wimberly | Senior Sales | Profile | |
| Samuel Hough | Executive Operations | Profile | |
| William Cartright | Senior Operations | Profile | |
| Lynn Doster | Executive Operations | Profile | |
| Troy Robertson | Senior Counsel | Profile |