Kirby Correlations
| KEX Stock | USD 101.05 0.89 0.87% |
The correlation of Kirby 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kirby moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kirby moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Kirby and NYA is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kirby and NYA in the same portfolio, assuming nothing else is changed.
Kirby |
The ability to find closely correlated positions to Kirby could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kirby when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Kirby - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Kirby to buy it.
Moving together with Kirby Stock
| 0.76 | SB | Safe Bulkers Financial Report 8th of May 2024 | PairCorr |
| 0.89 | SB-PC | Safe Bulkers | PairCorr |
| 0.78 | SB-PD | Safe Bulkers | PairCorr |
| 0.87 | EGLE | Eagle Bulk Shipping Earnings Call This Week | PairCorr |
| 0.73 | PXSAP | Pyxis Tankers | PairCorr |
| 0.8 | ECO | Okeanis Eco Tankers | PairCorr |
| 0.83 | GNK | Genco Shipping Trading Financial Report 1st of May 2024 | PairCorr |
| 0.83 | NMM | Navios Maritime Partners Financial Report 28th of May 2024 | PairCorr |
Moving against Kirby Stock
| 0.78 | NAT | Nordic American Tankers Financial Report 27th of May 2024 | PairCorr |
| 0.52 | PXSAW | Pyxis Tankers | PairCorr |
| 0.45 | ESEA | Euroseas Financial Report 21st of May 2024 | PairCorr |
| 0.85 | GASS | StealthGas | PairCorr |
| 0.77 | KNOP | KNOT Offshore Partners Financial Report 23rd of May 2024 | PairCorr |
| 0.75 | ZIM | ZIM Integrated Shipping Financial Report 27th of May 2024 | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Kirby without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Kirby Corporate Directors
Kirby corporate directors refer to members of a Kirby board of directors. The board of directors generally takes responsibility for the Kirby's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Kirby's board members must vote for the resolution. The Kirby board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Sean Day | Independent Director | Profile | |
| William Waterman | Independent Director | Profile | |
| AnneMarie Ainsworth | Independent Director | Profile | |
| Barry Davis | Independent Director | Profile |
Already Invested in Kirby?
The danger of trading Kirby is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Kirby is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Kirby. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Kirby is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Kirby offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Kirby's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Kirby Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Kirby Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kirby. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. For more information on how to buy Kirby Stock please use our How to Invest in Kirby guide.Note that the Kirby information on this page should be used as a complementary analysis to other Kirby's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for Kirby Stock analysis
When running Kirby's price analysis, check to measure Kirby's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Kirby is operating at the current time. Most of Kirby's value examination focuses on studying past and present price action to predict the probability of Kirby's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kirby's price. Additionally, you may evaluate how the addition of Kirby to your portfolios can decrease your overall portfolio volatility.
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Is Kirby's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Kirby. If investors know Kirby will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Kirby listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.021 | Earnings Share 3.72 | Revenue Per Share 51.933 | Quarterly Revenue Growth 0.206 | Return On Assets 0.0371 |
The market value of Kirby is measured differently than its book value, which is the value of Kirby that is recorded on the company's balance sheet. Investors also form their own opinion of Kirby's value that differs from its market value or its book value, called intrinsic value, which is Kirby's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Kirby's market value can be influenced by many factors that don't directly affect Kirby's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Kirby's value and its price as these two are different measures arrived at by different means. Investors typically determine if Kirby is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Kirby's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.