Matrix Service Correlations

MTRX Stock

USD 14.32 0.12 0.85%

The current 90-days correlation between Matrix Service and Imperial Oil is 0.11 (i.e., Average diversification). The correlation of Matrix Service 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.

Matrix Service Correlation With Market

Weak diversification

The correlation between Matrix Service Co 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 Matrix Service Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Matrix Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Matrix Service Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Matrix Stock

0.68	MATR	Mattr Corp	Pair Corr
0.64	NOA	North American Const	Pair Corr
0.68	SEI	Solaris Energy Infra	Pair Corr
0.72	NINE	Nine Energy Service	Pair Corr
0.77	N5Z	North American Const	Pair Corr
0.9	ACDC	ProFrac Holding Corp	Pair Corr
0.81	BOOM	Dmc Global	Pair Corr
0.75	TUSK	Mammoth Energy Services	Pair Corr

Moving against Matrix Stock

0.53	BKLRF	Berkeley Energy	Pair Corr
0.47	LNDNF	Lundin Energy AB	Pair Corr

Related Correlations Analysis

	SU	PBR	CVX	EQNR	PBR-A	CVE	IMO
SU		0.86	0.88	0.8	0.83	0.71	0.71	SU
PBR	0.86		0.81	0.87	0.99	0.86	0.86	PBR
CVX	0.88	0.81		0.92	0.76	0.59	0.65	CVX
EQNR	0.8	0.87	0.92		0.84	0.66	0.69	EQNR
PBR-A	0.83	0.99	0.76	0.84		0.87	0.86	PBR-A
CVE	0.71	0.86	0.59	0.66	0.87		0.79	CVE
IMO	0.71	0.86	0.65	0.69	0.86	0.79		IMO
	SU	PBR	CVX	EQNR	PBR-A	CVE	IMO

Risk-Adjusted Indicators

There is a big difference between Matrix Stock performing well and Matrix Service 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 Matrix Service'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SU	1.12	0.45	0.34	3.62	0.72	(1.30)	2.77	(1.62)	7.59
PBR	1.33	0.44	0.22	(2.43)	1.28	(1.59)	3.70	(2.02)	11.62
CVX	1.09	0.22	0.13	2.13	1.14	(1.18)	2.61	(1.86)	9.56
EQNR	1.38	0.17	0.07	(0.49)	1.43	(1.63)	2.86	(3.35)	7.91
PBR-A	1.34	0.42	0.19	(2.44)	1.53	(1.57)	4.21	(2.07)	10.67
CVE	1.68	0.24	0.10	1.85	1.84	(1.88)	3.72	(3.24)	9.18
IMO	1.49	0.23	0.10	1.00	1.79	(1.52)	2.97	(3.32)	8.06

Matrix Service Corporate Management

Justin JD	General VP	Profile
Kevin Durkin	VP Officer	Profile
Rick Bennett	CIO and VP	Profile
Kellie Smythe	Marketing Relations	Profile

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