Diana Shipping Correlations

DSX Stock

USD 1.84 0.01 0.54%

The current 90-days correlation between Diana Shipping and Eagle Bulk Shipping is -0.12 (i.e., Good diversification). The correlation of Diana Shipping 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.

Diana Shipping Correlation With Market

Significant diversification

The correlation between Diana Shipping and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diana Shipping and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Diana Stock

0.79	OP	Oceanpal	Pair Corr
0.84	SB	Safe Bulkers	Pair Corr
0.86	EDRY	EuroDry	Pair Corr
0.78	PXSAW	Pyxis Tankers	Pair Corr
0.82	ESEA	Euroseas	Pair Corr
0.62	ASC	Ardmore Shpng	Pair Corr
0.67	DAC	Danaos	Pair Corr
0.67	ECO	Okeanis Eco Tankers	Pair Corr
0.64	GNK	Genco Shipping Trading	Pair Corr
0.91	GSL	Global Ship Lease	Pair Corr
0.82	NAT	Nordic American Tankers	Pair Corr
0.88	NMM	Navios Maritime Partners	Pair Corr
0.85	PXS	Pyxis Tankers	Pair Corr
0.7	GLBS	Globus Maritime	Pair Corr
0.83	GOGL	Golden Ocean Group	Pair Corr
0.83	HSHP	Himalaya Shipping	Pair Corr
0.84	PANL	Pangaea Logistic	Pair Corr
0.84	PSHG	Performance Shipping	Pair Corr
0.88	SBLK	Star Bulk Carriers	Pair Corr
0.91	SHIP	Seanergy Maritime	Pair Corr

Moving against Diana Stock

0.7	HTCO	Caravelle International Symbol Change	Pair Corr
0.85	BE	Bloom Energy Corp	Pair Corr
0.78	B	Barnes Group	Pair Corr
0.77	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.72	BA	Boeing	Pair Corr
0.7	DIST	Distoken Acquisition	Pair Corr
0.66	AP	Ampco Pittsburgh	Pair Corr
0.57	R	Ryder System	Pair Corr
0.48	GSL-PB	Global Ship Lease	Pair Corr

Related Correlations Analysis

	EGLE	SBLK	GOGL	GSL	GNK	DAC	GLBS	TOPS	NM	NPNYY
EGLE		-0.4	-0.42	-0.1	-0.62	-0.32	-0.23	-0.24	-0.08	0.29	EGLE
SBLK	-0.4		0.97	0.83	0.9	0.74	0.77	0.83	0.69	0.14	SBLK
GOGL	-0.42	0.97		0.78	0.95	0.78	0.67	0.77	0.57	0.01	GOGL
GSL	-0.1	0.83	0.78		0.62	0.71	0.68	0.73	0.56	0.37	GSL
GNK	-0.62	0.9	0.95	0.62		0.77	0.59	0.71	0.46	-0.13	GNK
DAC	-0.32	0.74	0.78	0.71	0.77		0.42	0.59	0.25	0.19	DAC
GLBS	-0.23	0.77	0.67	0.68	0.59	0.42		0.91	0.76	0.21	GLBS
TOPS	-0.24	0.83	0.77	0.73	0.71	0.59	0.91		0.63	0.17	TOPS
NM	-0.08	0.69	0.57	0.56	0.46	0.25	0.76	0.63		0.22	NM
NPNYY	0.29	0.14	0.01	0.37	-0.13	0.19	0.21	0.17	0.22		NPNYY
	EGLE	SBLK	GOGL	GSL	GNK	DAC	GLBS	TOPS	NM	NPNYY

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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

GOGL	+ 0.97	SBLK
GNK	+ 0.95	GOGL
TOPS	+ 0.91	GLBS
GNK	+ 0.9	SBLK
GSL	+ 0.83	SBLK
TOPS	+ 0.83	SBLK

High negative correlations

GNK	- 0.62	EGLE
GOGL	- 0.42	EGLE
SBLK	- 0.4	EGLE
DAC	- 0.32	EGLE
TOPS	- 0.24	EGLE
GLBS	- 0.23	EGLE

Risk-Adjusted Indicators

There is a big difference between Diana Stock performing well and Diana Shipping 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 Diana Shipping'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EGLE	1.56	(0.10)	(1.56)	3.14	(3.92)	10.32
SBLK	1.38	(0.30)	(1.25)	3.04	(3.34)	8.46
GOGL	1.62	(0.18)	(0.73)	3.84	(3.02)	11.42
GSL	1.16	(0.14)	(0.84)	2.75	(2.42)	7.98
GNK	1.44	(0.11)	(0.24)	3.06	(2.67)	9.22
DAC	1.13	(0.07)	(0.11)	2.46	(2.53)	8.98
GLBS	2.76	(0.31)	6.07	4.55	(5.95)	22.53
TOPS	2.03	(0.55)	(0.90)	5.22	(5.56)	15.50
NM	2.24	(0.09)	7.94	5.56	(4.86)	16.27
NPNYY	1.40	(0.20)	(0.37)	2.68	(2.97)	10.47

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