This study presents an empirical approach to multispecies stock assessment. A method for the analysis of observed changes in catch rates by similar species or groups from southeast Asia and the northwest Atlantic region is developed and described. The aggregated time series of catches per standard tow from research vessel surveys were examined as Markov chain models after transition probability matrices were derived from them using quadratic programming. The matrices were projected to provide some insight about stability and changes in the multispecies assemblages. Results from these analyses generally support the inferences previously made from the data and provide some additional information regarding stability.