StealthGas Correlations

GASS Stock

USD 7.04 0.02 0.28%

The current 90-days correlation between StealthGas and FuelCell Energy is 0.28 (i.e., Modest 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

Average diversification

The correlation between StealthGas and DJI is 0.19 (i.e., Average 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 real.

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

Moving together with StealthGas Stock

0.69	TPZ	Topaz Energy Corp	Pair Corr
0.61	DKL	Delek Logistics Partners	Pair Corr
0.76	DTM	DT Midstream	Pair Corr
0.75	EPD	Enterprise Products	Pair Corr
0.71	ETP	Energy Transfer Partners	Pair Corr
0.62	NGL	NGL Energy Partners	Pair Corr
0.85	PAA	Plains All American	Pair Corr
0.79	HESM	Hess Midstream Partners	Pair Corr
0.69	KNOP	KNOT Offshore Partners	Pair Corr
0.76	RIGD	Reliance Industries	Pair Corr
0.85	MPLX	MPLX LP	Pair Corr

Moving against StealthGas Stock

0.8	LNG	Cheniere Energy	Pair Corr
0.65	TMDE	TMD Energy Limited	Pair Corr
0.58	SSNLF	Samsung Electronics	Pair Corr
0.56	TWM	Tidewater Midstream and	Pair Corr
0.55	600903	Guizhou Gas Group	Pair Corr
0.37	NEXT	Nextdecade Corp	Pair Corr
0.36	SLNG	Stabilis Solutions	Pair Corr
0.36	TOPS	TOP Ships	Pair Corr
0.34	PTLE	PTL LTD Ordinary	Pair Corr

Related Correlations Analysis

	SLDP	FCEL	DSX	BLNK	SLND	KNOP	SHIP	PAMT	YDDL
SLDP		0.25	-0.21	0.74	0.7	-0.42	-0.59	-0.12	-0.37	SLDP
FCEL	0.25		-0.33	0.38	0.54	-0.38	-0.48	0.48	0.29	FCEL
DSX	-0.21	-0.33		-0.27	-0.46	0.48	0.8	-0.5	-0.1	DSX
BLNK	0.74	0.38	-0.27		0.69	-0.71	-0.68	-0.11	-0.04	BLNK
SLND	0.7	0.54	-0.46	0.69		-0.48	-0.81	0.31	-0.27	SLND
KNOP	-0.42	-0.38	0.48	-0.71	-0.48		0.71	-0.19	-0.14	KNOP
SHIP	-0.59	-0.48	0.8	-0.68	-0.81	0.71		-0.43	0.07	SHIP
PAMT	-0.12	0.48	-0.5	-0.11	0.31	-0.19	-0.43		0.17	PAMT
YDDL	-0.37	0.29	-0.1	-0.04	-0.27	-0.14	0.07	0.17		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

SHIP	+ 0.8	DSX
BLNK	+ 0.74	SLDP
SHIP	+ 0.71	KNOP
SLND	+ 0.7	SLDP
SLND	+ 0.69	BLNK
SLND	+ 0.54	FCEL

High negative correlations

SHIP	- 0.81	SLND
KNOP	- 0.71	BLNK
SHIP	- 0.68	BLNK
SHIP	- 0.59	SLDP
PAMT	- 0.5	DSX
KNOP	- 0.48	SLND

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	5.37	(0.24)	(0.01)	0.00	6.57	(6.42)	9.41	(12.29)	72.11
FCEL	5.35	(0.42)	0.00	(0.05)	0.00	0.00	12.39	(9.07)	35.51
DSX	2.25	(0.11)	0.00	(0.03)	0.00	0.00	5.99	(3.98)	13.18
BLNK	4.36	(1.97)	0.00	(0.60)	0.00	0.00	7.82	(9.42)	26.30
SLND	3.39	(0.66)	0.00	(0.19)	0.00	0.00	5.73	(8.04)	25.27
KNOP	1.48	0.23	0.13	0.66	1.24	(1.83)	3.99	(2.12)	12.60
SHIP	1.48	0.14	0.07	0.25	1.46	(1.83)	4.52	(2.39)	8.37
PAMT	2.53	0.08	0.03	0.13	3.15	(2.85)	6.06	(5.36)	17.24
YDDL	6.02	0.53	0.05	(0.15)	7.09	(7.50)	18.33	(10.89)	46.80

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