Saia Correlations

SAIA Stock

USD 350.65 1.36 0.39%

The current 90-days correlation between Saia Inc and XPO Logistics is 0.67 (i.e., Poor diversification). The correlation of Saia 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.

Saia Correlation With Market

Very weak diversification

The correlation between Saia Inc and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saia Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Saia Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Saia Stock

0.92	VLRS	Volaris	Pair Corr
0.92	WERN	Werner Enterprises	Pair Corr
0.85	AAL	American Airlines Aggressive Push	Pair Corr
0.76	CNI	Canadian National Railway	Pair Corr
0.87	CSX	CSX Corporation	Pair Corr
0.8	DAL	Delta Air Lines	Pair Corr
0.89	KNX	Knight Transportation	Pair Corr
0.8	RXO	RXO Inc	Pair Corr
0.78	UAL	United Airlines Holdings	Pair Corr
0.76	ULH	Universal Logistics	Pair Corr
0.95	XPO	XPO Logistics	Pair Corr
0.97	HTLD	Heartland Express	Pair Corr
0.87	MRTN	Marten Transport	Pair Corr
0.82	ODFL	Old Dominion Freight	Pair Corr
0.8	PAMT	PAMT P Symbol Change	Pair Corr
0.78	AIRT	Air T Inc	Pair Corr
0.77	ALGT	Allegiant Travel	Pair Corr
0.95	ARCB	ArcBest Corp	Pair Corr
0.82	SKYW	SkyWest	Pair Corr
0.92	SNDR	Schneider National Potential Growth	Pair Corr

Moving against Saia Stock

0.54	LTM	LATAM Airlines Group	Pair Corr
0.49	CPA	Copa Holdings SA	Pair Corr
0.44	RYAAY	Ryanair Holdings PLC	Pair Corr
0.38	ATCOL	Atlas Corp	Pair Corr
0.71	BEST	BEST Inc	Pair Corr
0.53	ATSG	Air Transport Services	Pair Corr
0.37	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	XPO	KNX	ARCB	YELL	MRTN	TFII	ULH	HTLD	WERN	PTSI
XPO		0.8	0.93	0.0	0.85	0.9	0.67	0.92	0.87	0.0	XPO
KNX	0.8		0.87	0.0	0.78	0.86	0.75	0.92	0.88	0.0	KNX
ARCB	0.93	0.87		0.0	0.94	0.95	0.83	0.93	0.96	0.0	ARCB
YELL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	YELL
MRTN	0.85	0.78	0.94	0.0		0.88	0.85	0.88	0.97	0.0	MRTN
TFII	0.9	0.86	0.95	0.0	0.88		0.88	0.92	0.93	0.0	TFII
ULH	0.67	0.75	0.83	0.0	0.85	0.88		0.77	0.87	0.0	ULH
HTLD	0.92	0.92	0.93	0.0	0.88	0.92	0.77		0.93	0.0	HTLD
WERN	0.87	0.88	0.96	0.0	0.97	0.93	0.87	0.93		0.0	WERN
PTSI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PTSI
	XPO	KNX	ARCB	YELL	MRTN	TFII	ULH	HTLD	WERN	PTSI

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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

WERN	+ 0.97	MRTN
WERN	+ 0.96	ARCB
TFII	+ 0.95	ARCB
MRTN	+ 0.94	ARCB
ARCB	+ 0.93	XPO
HTLD	+ 0.93	ARCB

High negative correlations

PTSI	- 0.0	WERN
PTSI	- 0.0	HTLD
PTSI	- 0.0	ULH
PTSI	- 0.0	TFII
PTSI	- 0.0	MRTN
PTSI	- 0.0	YELL

Risk-Adjusted Indicators

There is a big difference between Saia Stock performing well and Saia 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 Saia'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
XPO	1.93	(0.43)	(0.65)	3.66	(4.78)	13.69
KNX	1.38	(0.18)	(0.25)	2.97	(2.70)	8.09
ARCB	1.74	(0.55)	(0.69)	3.39	(4.43)	9.75
YELL	0.00	0.00	0.00	0.00	0.00	0.00
MRTN	1.24	(0.26)	(0.54)	2.82	(2.68)	7.62
TFII	1.75	(0.74)	(0.60)	2.03	(4.90)	23.82
ULH	2.25	(0.73)	(0.57)	3.50	(5.35)	23.09
HTLD	1.43	(0.27)	(0.45)	2.61	(3.03)	8.33
WERN	1.32	(0.32)	(0.46)	2.35	(2.82)	8.47
PTSI	0.00	0.00	0.00	0.00	0.00	0.00

Saia Corporate Management

Kelly Benton	VP Controller	Profile
Douglas Col	Treasurer	Profile
Raymond Ramu	Chief Customer Officer	Profile
Patrick Sugar	Executive Operations	Profile
Anthony Norwood	Executive Officer	Profile
Rohit Lal	Executive Officer	Profile

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