Saia Correlations

SAIA Stock

USD 487.53 5.34 1.11%

The current 90-days correlation between Saia Inc and XPO Logistics is 0.64 (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

Weak diversification

The correlation between Saia Inc and DJI is 0.32 (i.e., 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

0.82	NSC	Norfolk Southern	Pair Corr
0.84	MRTN	Marten Transport	Pair Corr
0.91	ODFL	Old Dominion Freight Sell-off Trend	Pair Corr
0.68	AZUL	Azul SA	Pair Corr
0.78	TFII	TFI International	Pair Corr
0.75	R	Ryder System Earnings Call This Week	Pair Corr
0.62	AL	Air Lease Buyout Trend	Pair Corr
0.68	BV	BrightView Holdings	Pair Corr
0.64	BW	Babcock Wilcox Enter	Pair Corr
0.79	CR	Crane Company	Pair Corr
0.61	CW	Curtiss Wright	Pair Corr

Moving against Saia Stock

0.73	AAL	American Airlines	Pair Corr
0.72	ALK	Alaska Air Group	Pair Corr
0.71	MESA	Mesa Air Group	Pair Corr
0.69	B	Barnes Group	Pair Corr
0.68	FLYX	flyExclusive, Upward Rally	Pair Corr
0.66	ALGT	Allegiant Travel	Pair Corr
0.64	ULCC	Frontier Group Holdings	Pair Corr
0.58	JBLU	JetBlue Airways Corp Aggressive Push	Pair Corr
0.58	SRFM	Surf Air Mobility	Pair Corr
0.54	UAL	United Airlines Holdings	Pair Corr
0.46	SNCY	Sun Country Airlines	Pair Corr
0.38	ATCOL	Atlas Corp	Pair Corr
0.7	BA	Boeing	Pair Corr
0.56	KC	Kingsoft Cloud Holdings Upward Rally	Pair Corr
0.49	AP	Ampco Pittsburgh	Pair Corr

Related Correlations Analysis

	XPO	KNX	ARCB	YELL	MRTN	TFII	ULH	HTLD	WERN	PTSI
XPO		0.39	0.79	0.0	0.73	0.77	0.3	0.74	0.71	0.0	XPO
KNX	0.39		0.62	0.0	0.56	0.42	0.46	0.68	0.66	0.0	KNX
ARCB	0.79	0.62		0.0	0.96	0.86	0.68	0.86	0.95	0.0	ARCB
YELL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	YELL
MRTN	0.73	0.56	0.96	0.0		0.87	0.76	0.83	0.97	0.0	MRTN
TFII	0.77	0.42	0.86	0.0	0.87		0.75	0.75	0.88	0.0	TFII
ULH	0.3	0.46	0.68	0.0	0.76	0.75		0.58	0.77	0.0	ULH
HTLD	0.74	0.68	0.86	0.0	0.83	0.75	0.58		0.89	0.0	HTLD
WERN	0.71	0.66	0.95	0.0	0.97	0.88	0.77	0.89		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
MRTN	+ 0.96	ARCB
WERN	+ 0.95	ARCB
WERN	+ 0.89	HTLD
WERN	+ 0.88	TFII
TFII	+ 0.87	MRTN

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	1.63	(0.05)	(0.17)	2.24	(3.78)	9.94
KNX	1.31	(0.14)	(0.12)	2.73	(2.71)	7.17
ARCB	1.66	(0.30)	(0.44)	3.68	(3.98)	9.11
YELL	0.00	0.00	0.00	0.00	0.00	0.00
MRTN	1.32	(0.23)	(0.55)	2.81	(2.81)	7.58
TFII	1.06	(0.18)	(0.32)	2.27	(2.73)	7.74
ULH	2.15	(0.74)	(0.48)	2.83	(5.36)	23.09
HTLD	1.25	(0.07)	(0.12)	2.65	(2.32)	5.97
WERN	1.21	(0.23)	(0.32)	2.81	(2.64)	6.54
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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