StealthGas Correlations

GASS Stock

USD 7.63 0.11 1.42%

The current 90-days correlation between StealthGas and FuelCell Energy is 0.15 (i.e., Average diversification). The correlation of StealthGas 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.

StealthGas Correlation With Market

Very weak diversification

The correlation between StealthGas and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding StealthGas and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with StealthGas Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in StealthGas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with StealthGas Stock

0.67	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.66	INTC	Intel Earnings Call This Week	Pair Corr
0.72	AA	Alcoa Corp Downward Rally	Pair Corr
0.82	BA	Boeing Earnings Call Tomorrow	Pair Corr

Moving against StealthGas Stock

0.42	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.39	TRV	The Travelers Companies	Pair Corr
0.32	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SLDP	FCEL	DSX	BLNK	SLND	KNOP	SHIP	PAMT	YDDL
SLDP		-0.09	0.01	0.69	0.56	-0.3	-0.47	-0.22	-0.42	SLDP
FCEL	-0.09		0.3	-0.43	0.09	0.07	-0.05	0.45	0.4	FCEL
DSX	0.01	0.3		-0.19	-0.45	-0.12	0.56	0.01	0.58	DSX
BLNK	0.69	-0.43	-0.19		0.58	-0.53	-0.39	-0.65	-0.6	BLNK
SLND	0.56	0.09	-0.45	0.58		-0.07	-0.68	-0.07	-0.66	SLND
KNOP	-0.3	0.07	-0.12	-0.53	-0.07		0.28	0.41	0.09	KNOP
SHIP	-0.47	-0.05	0.56	-0.39	-0.68	0.28		-0.24	0.43	SHIP
PAMT	-0.22	0.45	0.01	-0.65	-0.07	0.41	-0.24		0.29	PAMT
YDDL	-0.42	0.4	0.58	-0.6	-0.66	0.09	0.43	0.29		YDDL
	SLDP	FCEL	DSX	BLNK	SLND	KNOP	SHIP	PAMT	YDDL

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

BLNK	+ 0.69	SLDP
YDDL	+ 0.58	DSX
SLND	+ 0.58	BLNK
SLND	+ 0.56	SLDP
SHIP	+ 0.56	DSX
PAMT	+ 0.45	FCEL

High negative correlations

SHIP	- 0.68	SLND
YDDL	- 0.66	SLND
PAMT	- 0.65	BLNK
YDDL	- 0.6	BLNK
KNOP	- 0.53	BLNK
SHIP	- 0.47	SLDP

Risk-Adjusted Indicators

There is a big difference between StealthGas Stock performing well and StealthGas 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 StealthGas' 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
SLDP	4.81	(0.01)	0.02	0.07	5.77	(6.08)	9.41	(8.23)	72.11
FCEL	4.97	0.35	0.07	0.24	5.42	(5.54)	12.26	(9.07)	35.51
DSX	2.52	0.30	0.15	0.25	2.02	(3.49)	6.51	(3.41)	13.41
BLNK	4.64	(1.15)	0.00	(0.50)	0.00	0.00	10.45	(8.33)	28.28
SLND	4.29	(1.01)	0.00	(0.36)	0.00	0.00	8.20	(10.22)	24.86
KNOP	1.41	0.27	0.13	(1.31)	1.17	(1.71)	4.00	(2.15)	12.63
SHIP	1.52	0.28	0.13	2.25	1.44	(1.84)	3.95	(2.71)	8.64
PAMT	2.82	(0.11)	(0.02)	0.00	3.50	(3.08)	6.06	(6.15)	17.24
YDDL	5.11	0.61	0.08	(0.51)	5.41	(5.88)	13.60	(8.04)	42.71

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