StealthGas Correlations

GASS Stock

USD 7.79 0.16 2.10%

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

Poor diversification

The correlation between StealthGas and DJI is 0.79 (i.e., Poor 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

0.87	EE	Excelerate Energy	Pair Corr
0.65	ET	Energy Transfer LP Sell-off Trend	Pair Corr
0.67	SRR	Source Rock Royalties	Pair Corr
0.63	CQP	Cheniere Energy Partners	Pair Corr
0.82	DKL	Delek Logistics Partners	Pair Corr
0.64	GEL	Genesis Energy LP	Pair Corr
0.62	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.77	KYN	Kayne Anderson MLP	Pair Corr
0.77	NAT	Nordic American Tankers	Pair Corr
0.61	OKE	ONEOK Inc	Pair Corr
0.89	PAA	Plains All American	Pair Corr
0.73	SFL	SFL Corporation	Pair Corr
0.62	SMC	Summit Midstream	Pair Corr
0.72	SUN	Sunoco LP	Pair Corr
0.61	UGP	Ultrapar Participacoes	Pair Corr
0.87	WES	Western Midstream	Pair Corr
0.63	WMB	Williams Companies	Pair Corr
0.61	HESM	Hess Midstream Partners Earnings Call Today	Pair Corr
0.7	INSW	International Seaways	Pair Corr

Moving against StealthGas Stock

0.43	ALA	AltaGas	Pair Corr
0.34	LNG	Cheniere Energy	Pair Corr
0.75	NEXT	Nextdecade Corp	Pair Corr
0.69	900913	Shanxi Guoxin Energy	Pair Corr
0.68	RIGD	Reliance Industries	Pair Corr
0.62	NXXT	NextNRG Symbol Change	Pair Corr
0.54	PTLE	PTL LTD Ordinary	Pair Corr

Related Correlations Analysis

	SLDP	FCEL	DSX	BLNK	SLND	KNOP	SHIP	PAMT	YDDL
SLDP		-0.09	-0.04	0.67	0.55	-0.4	-0.48	-0.19	-0.47	SLDP
FCEL	-0.09		0.35	-0.39	0.0	0.36	0.0	0.43	0.43	FCEL
DSX	-0.04	0.35		-0.29	-0.56	0.46	0.6	-0.03	0.58	DSX
BLNK	0.67	-0.39	-0.29		0.65	-0.85	-0.52	-0.51	-0.52	BLNK
SLND	0.55	0.0	-0.56	0.65		-0.62	-0.74	0.0	-0.62	SLND
KNOP	-0.4	0.36	0.46	-0.85	-0.62		0.63	0.28	0.45	KNOP
SHIP	-0.48	0.0	0.6	-0.52	-0.74	0.63		-0.26	0.4	SHIP
PAMT	-0.19	0.43	-0.03	-0.51	0.0	0.28	-0.26		0.29	PAMT
YDDL	-0.47	0.43	0.58	-0.52	-0.62	0.45	0.4	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	+ 0.67	SLDP
SLND	+ 0.65	BLNK
SHIP	+ 0.63	KNOP
SHIP	+ 0.6	DSX
YDDL	+ 0.58	DSX
SLND	+ 0.55	SLDP

High negative correlations

KNOP	- 0.85	BLNK
SHIP	- 0.74	SLND
YDDL	- 0.62	SLND
KNOP	- 0.62	SLND
SLND	- 0.56	DSX
YDDL	- 0.52	BLNK

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	4.77	(0.06)	0.02	0.05	5.71	(5.80)	9.41	(8.23)	72.11
FCEL	4.79	0.35	0.08	0.23	5.21	(5.44)	12.26	(9.07)	35.51
DSX	2.52	0.42	0.20	0.33	1.98	(3.40)	6.51	(3.41)	13.41
BLNK	4.61	(1.12)	0.00	(0.43)	0.00	0.00	10.45	(8.33)	29.41
SLND	4.34	(1.32)	0.00	(0.33)	0.00	0.00	8.20	(13.96)	33.71
KNOP	1.44	0.31	0.17	207.34	1.06	(1.79)	4.31	(2.13)	12.63
SHIP	1.58	0.39	0.19	(18.58)	1.38	(1.91)	4.47	(2.71)	8.64
PAMT	2.69	(0.20)	0.00	(0.06)	0.00	0.00	6.06	(6.15)	17.24
YDDL	5.02	0.69	0.11	(83.88)	5.12	(5.81)	13.60	(8.04)	42.71

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