Euronav NV Correlations

CMBT Stock

11.18 0.42 3.90%

The current 90-days correlation between Euronav NV and Chemours Co is 0.05 (i.e., Significant diversification). The correlation of Euronav NV 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.

Euronav NV Correlation With Market

Good diversification

The correlation between Euronav NV and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Euronav NV and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Euronav NV. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more information on how to buy Euronav Stock please use our How to Invest in Euronav NV guide.

Moving together with Euronav Stock

0.89	FRO	Frontline	Pair Corr
0.75	GEL	Genesis Energy LP	Pair Corr
0.92	LPG	Dorian LPG	Pair Corr
0.76	PBA	Pembina Pipeline Corp	Pair Corr
0.93	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.91	TNK	Teekay Tankers	Pair Corr
0.87	IMPP	Imperial Petroleum	Pair Corr
0.92	INSW	International Seaways	Pair Corr

Moving against Euronav Stock

0.85	EE	Excelerate Energy	Pair Corr
0.72	ET	Energy Transfer LP	Pair Corr
0.71	GLOP-PB	GasLog Partners LP	Pair Corr
0.71	GLOP-PC	GasLog Partners LP	Pair Corr
0.67	GLOP-PA	GasLog Partners LP	Pair Corr
0.64	DLNG	Dynagas LNG Partners	Pair Corr
0.6	NGL	NGL Energy Partners Earnings Call This Week	Pair Corr
0.59	EPD	Enterprise Products	Pair Corr
0.58	CQP	Cheniere Energy Partners	Pair Corr
0.51	DTM	DT Midstream	Pair Corr
0.5	LNG	Cheniere Energy	Pair Corr
0.43	KMI	Kinder Morgan	Pair Corr
0.4	ENB	Enbridge Earnings Call This Week	Pair Corr
0.33	GLP	Global Partners LP	Pair Corr
0.79	GLNG	Golar LNG Limited	Pair Corr
0.61	NGL-PC	NGL Energy Partners Earnings Call This Week	Pair Corr
0.6	GLP-PB	Global Partners LP	Pair Corr
0.59	MPLX	MPLX LP Earnings Call This Week	Pair Corr
0.54	NGL-PB	NGL Energy Partners Earnings Call This Week	Pair Corr
0.52	WES	Western Midstream	Pair Corr
0.52	HMLPF	Hoegh LNG Partners	Pair Corr
0.47	KNTK	Kinetik Holdings	Pair Corr
0.45	SEAL-PA	Seapeak LLC	Pair Corr
0.43	HESM	Hess Midstream Partners	Pair Corr
0.36	DLNG-PA	Dynagas LNG Partners	Pair Corr
0.35	PAGP	Plains GP Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FLYX	HIHO	WRN	CC	COTY	GZITF
FLYX		0.19	-0.51	-0.39	-0.41	0.16	FLYX
HIHO	0.19		0.14	-0.31	-0.24	-0.15	HIHO
WRN	-0.51	0.14		0.19	0.2	-0.14	WRN
CC	-0.39	-0.31	0.19		0.62	0.24	CC
COTY	-0.41	-0.24	0.2	0.62		-0.36	COTY
GZITF	0.16	-0.15	-0.14	0.24	-0.36		GZITF
	FLYX	HIHO	WRN	CC	COTY	GZITF

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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

COTY	+ 0.62	CC
GZITF	+ 0.24	CC
COTY	+ 0.2	WRN
HIHO	+ 0.19	FLYX
CC	+ 0.19	WRN
GZITF	+ 0.16	FLYX

High negative correlations

WRN	- 0.51	FLYX
COTY	- 0.41	FLYX
CC	- 0.39	FLYX
GZITF	- 0.36	COTY
CC	- 0.31	HIHO
COTY	- 0.24	HIHO

Risk-Adjusted Indicators

There is a big difference between Euronav Stock performing well and Euronav NV 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 Euronav NV'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
FLYX	2.93	0.70	0.15	(0.61)	2.83	(3.52)	6.85	(5.71)	22.28
HIHO	1.36	(0.29)	0.00	3.20	0.00	0.00	2.65	(2.97)	12.61
WRN	2.08	(0.13)	0.00	0.42	0.00	0.00	4.63	(5.26)	20.61
CC	2.09	(0.07)	0.01	0.06	2.19	(2.77)	4.23	(3.40)	23.73
COTY	1.44	(0.05)	0.00	(0.03)	0.00	0.00	2.87	(2.62)	8.03
GZITF	0.84	0.37	0.00	0.78	0.00	0.00	0.00	0.00	26.67

Euronav NV Corporate Management

Sofie Lemlijn	Senior General	Profile
Rustin Edwards	Head procurement	Profile
Hugo Stoop	Senior Advisor	Profile
Veronique Raes	Chief Officer	Profile
Michael Saverys	Chief Board	Profile
Michal Saverys	Chief Board	Profile

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