Danaos Correlations

DAC Stock

USD 100.46 0.52 0.51%

The current 90-days correlation between Danaos and Costamare is 0.64 (i.e., Poor diversification). The correlation of Danaos 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.

Danaos Correlation With Market

Poor diversification

The correlation between Danaos and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Danaos and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Danaos Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Danaos. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Danaos Stock refer to our How to Trade Danaos Stock guide.

Moving together with Danaos Stock

0.87	SB	Safe Bulkers	Pair Corr
0.74	37H	Global Ship Lease	Pair Corr
0.89	DSX	Diana Shipping	Pair Corr
0.81	ECO	Okeanis Eco Tankers	Pair Corr
0.93	GNK	Genco Shipping Trading	Pair Corr
0.91	GSL	Global Ship Lease	Pair Corr
0.78	ALC	Algoma Central	Pair Corr
0.79	ZIM	ZIM Integrated Shipping	Pair Corr
0.86	HSHP	Himalaya Shipping Earnings Call This Week	Pair Corr
0.88	GNU1	Genco Shipping Trading	Pair Corr
0.77	SZL	SOLSTAD OFFSHORE Earnings Call This Week	Pair Corr
0.84	MATX	Matson Inc	Pair Corr
0.8	PANL	Pangaea Logistic	Pair Corr
0.83	WTE	Westshore Terminals	Pair Corr
0.77	SZL	Solstad Offshore ASA Earnings Call This Week	Pair Corr
0.62	TORO	Toro Earnings Call This Week	Pair Corr
0.84	CDLR	Cadeler AS	Pair Corr
0.83	CMRE	Costamare Earnings Call This Week	Pair Corr
0.86	EC	Ecopetrol SA ADR	Pair Corr

Moving against Danaos Stock

0.79	ICON	Icon Energy Corp	Pair Corr
0.6	PTAIF	PT Astra International	Pair Corr
0.58	CISS	C3is Inc Buyout Trend	Pair Corr
0.56	QHD	Qinhuangdao Port	Pair Corr
0.37	RBNE	Robin Energy Symbol Change	Pair Corr

Related Correlations Analysis

	CMRE	CDLR	NMM	ZIM	CMBT	GSL
CMRE		0.62	0.78	0.89	0.7	0.93	CMRE
CDLR	0.62		0.82	0.69	0.85	0.66	CDLR
NMM	0.78	0.82		0.71	0.96	0.88	NMM
ZIM	0.89	0.69	0.71		0.65	0.83	ZIM
CMBT	0.7	0.85	0.96	0.65		0.8	CMBT
GSL	0.93	0.66	0.88	0.83	0.8		GSL
	CMRE	CDLR	NMM	ZIM	CMBT	GSL

Risk-Adjusted Indicators

There is a big difference between Danaos Stock performing well and Danaos 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 Danaos' 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
CMRE	1.53	0.38	0.17	0.90	1.72	(1.74)	3.28	(2.62)	11.00
CDLR	2.07	0.32	0.13	0.28	2.07	(2.18)	5.36	(3.41)	11.93
NMM	1.23	0.28	0.19	4.21	1.05	(1.46)	2.65	(2.05)	7.51
ZIM	2.56	0.44	0.14	0.29	2.76	(2.88)	6.15	(5.57)	20.91
CMBT	2.00	0.36	0.16	8.74	1.85	(2.35)	4.58	(3.24)	13.21
GSL	1.30	0.21	0.12	0.74	1.29	(1.47)	2.52	(2.41)	13.14

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