This type of steel is a very common high-carbon steel. It can be water hardened into an beautiful white /blueish steel with excellent edge retention qualities. Differential hardening will cause a clear hamon which can be polished into a white kesho hadori hamon.
Besides the usual carbon and iron, AISI 1095 steel also contains small percentages of manganese, chromium and silicon for rust resistance and better flexibility.
Researched traditional (kawagane) tamahagane steel contained between 0.8 and 1.1% of carbon. AISI 1095 steel contains (as the name states) 0.95% of carbon. The 1095 steel is a perfect average on this.