Schneider National Correlations

SNDR Stock

USD 23.15 0.04 0.17%

The current 90-days correlation between Schneider National and Werner Enterprises is 0.79 (i.e., Poor diversification). The correlation of Schneider National 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.

Schneider National Correlation With Market

Very weak diversification

The correlation between Schneider National and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schneider National 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 Schneider National. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

To learn how to invest in Schneider Stock, please use our How to Invest in Schneider National guide.

Moving together with Schneider Stock

0.91	VLRS	Volaris	Pair Corr
0.94	AAL	American Airlines	Pair Corr
0.83	DAL	Delta Air Lines	Pair Corr
0.91	RXO	RXO Inc	Pair Corr
0.84	UAL	United Airlines Holdings	Pair Corr
0.73	JBLU	JetBlue Airways Corp	Pair Corr
0.84	MESA	Mesa Air Group	Pair Corr
0.63	ODFL	Old Dominion Freight	Pair Corr
0.91	ALGT	Allegiant Travel	Pair Corr
0.93	SAIA	Saia Inc	Pair Corr
0.82	SKYW	SkyWest	Pair Corr
0.94	TFII	TFI International	Pair Corr
0.93	J	Jacobs Solutions	Pair Corr
0.7	R	Ryder System	Pair Corr
0.91	BV	BrightView Holdings	Pair Corr
0.89	BW	Babcock Wilcox Enter	Pair Corr
0.8	CW	Curtiss Wright	Pair Corr
0.8	DY	Dycom Industries	Pair Corr

Moving against Schneider Stock

0.74	LTM	LATAM Airlines Group	Pair Corr
0.68	CPA	Copa Holdings SA	Pair Corr
0.66	ATSG	Air Transport Services	Pair Corr
0.58	RYAAY	Ryanair Holdings PLC	Pair Corr
0.56	G	Genpact Limited	Pair Corr
0.77	EH	Ehang Holdings	Pair Corr
0.65	LZ	LegalZoom	Pair Corr
0.51	DE	Deere Company	Pair Corr
0.49	GE	GE Aerospace	Pair Corr
0.47	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	MRTN	HTLD	ULH	CVLG	WERN	PTSI	SAIA
MRTN		0.89	0.86	0.59	0.97	0.0	0.9	MRTN
HTLD	0.89		0.77	0.46	0.94	0.0	0.97	HTLD
ULH	0.86	0.77		0.62	0.87	0.0	0.76	ULH
CVLG	0.59	0.46	0.62		0.53	0.0	0.48	CVLG
WERN	0.97	0.94	0.87	0.53		0.0	0.93	WERN
PTSI	0.0	0.0	0.0	0.0	0.0		0.0	PTSI
SAIA	0.9	0.97	0.76	0.48	0.93	0.0		SAIA
	MRTN	HTLD	ULH	CVLG	WERN	PTSI	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
SAIA	+ 0.97	HTLD
WERN	+ 0.94	HTLD
SAIA	+ 0.93	WERN
SAIA	+ 0.9	MRTN
HTLD	+ 0.89	MRTN

High negative correlations

SAIA	- 0.0	PTSI
PTSI	- 0.0	WERN
PTSI	- 0.0	CVLG
PTSI	- 0.0	ULH
PTSI	- 0.0	HTLD
PTSI	- 0.0	MRTN

Risk-Adjusted Indicators

There is a big difference between Schneider Stock performing well and Schneider National 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 Schneider National'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
MRTN	1.25	(0.28)	(0.55)	2.82	(2.68)	7.62
HTLD	1.42	(0.30)	(0.47)	2.61	(3.03)	8.33
ULH	2.29	(0.73)	(0.52)	3.82	(5.35)	23.09
CVLG	2.31	(1.03)	(0.88)	2.56	(3.35)	52.43
WERN	1.32	(0.35)	(0.50)	2.35	(2.98)	8.47
PTSI	0.00	0.00	0.00	0.00	0.00	0.00
SAIA	2.31	(0.44)	(0.36)	3.58	(4.72)	15.36

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