Dynagas LNG Correlations

Preferred Stocks . USA . 
Preferred Stock . Dynagas LNG Partners
DLNG-PA Preferred Stock  USD 25.25  0.01  0.04%   
The current 90-days correlation between Dynagas LNG Partners and Dynagas LNG Partners is 0.2 (i.e., Modest diversification). The correlation of Dynagas LNG 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.

Dynagas LNG Correlation With Market

Average diversification

The correlation between Dynagas LNG Partners and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynagas LNG Partners and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Dynagas LNG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dynagas LNG 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 Dynagas LNG - 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 Dynagas LNG Partners to buy it.

Moving together with Dynagas Preferred Stock

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  0.85WMB Williams CompaniesPairCorr

Moving against Dynagas Preferred Stock

  0.66GEL Genesis Energy LPPairCorr
  0.64BPT BP Prudhoe BayPairCorr
  0.63BROGW Brooge Energy LimitedPairCorr
  0.63PXSAW Pyxis TankersPairCorr
  0.54FRO Frontline Earnings Call Next WeekPairCorr
  0.35FLNG FLEX LNG Earnings Call Next WeekPairCorr
  0.79LPG Dorian LPGPairCorr
  0.79PXS Pyxis TankersPairCorr
  0.59TEN Tsakos Energy Navigation Symbol ChangePairCorr
  0.59TNK Teekay TankersPairCorr
  0.58NAT Nordic American Tankers Earnings Call This WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dynagas Preferred Stock performing well and Dynagas LNG 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 Dynagas LNG'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Dynagas LNG 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.

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