StealthGas Correlations

GASS Stock

USD 8.24 0.08 0.96%

The current 90-days correlation between StealthGas and FuelCell Energy is 0.13 (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 poor diversification

The correlation between StealthGas and DJI is 0.82 (i.e., Very 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 main economic indicators.

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

Moving together with StealthGas Stock

0.65	AM	Antero Midstream Partners	Pair Corr
0.89	EE	Excelerate Energy	Pair Corr
0.87	ET	Energy Transfer LP	Pair Corr
0.65	TK	Teekay	Pair Corr
0.76	SRR	Source Rock Royalties	Pair Corr
0.95	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.86	G2O	Golar LNG Limited Earnings Call Tomorrow	Pair Corr
0.62	KEY	Keyera Corp	Pair Corr
0.7	P5P	Pembina Pipeline Corp Earnings Call This Week	Pair Corr
0.76	TK41	Tsakos Energy Navigation	Pair Corr
0.63	K2Y	Keyera Corp	Pair Corr
0.8	CQP	Cheniere Energy Partners	Pair Corr
0.87	OCW	Euronav NV Earnings Call This Week	Pair Corr
0.74	DHT	DHT Holdings	Pair Corr
0.85	DKL	Delek Logistics Partners Earnings Call This Week	Pair Corr
0.73	DTM	DT Midstream	Pair Corr
0.72	EPD	Enterprise Products	Pair Corr
0.9	ETP	Energy Transfer Partners	Pair Corr
0.82	FRO	Frontline Earnings Call This Week	Pair Corr
0.87	GEL	Genesis Energy LP	Pair Corr
0.72	GLP	Global Partners LP Earnings Call This Week	Pair Corr
0.8	KMI	Kinder Morgan Sell-off Trend	Pair Corr
0.85	KYN	Kayne Anderson MLP	Pair Corr
0.89	LPG	Dorian LPG	Pair Corr
0.89	NAT	Nordic American Tankers	Pair Corr
0.72	NGL	NGL Energy Partners	Pair Corr
0.74	OKE	ONEOK Inc	Pair Corr
0.92	PAA	Plains All American	Pair Corr
0.72	PBA	Pembina Pipeline Corp	Pair Corr

Related Correlations Analysis

	SLDP	FCEL	DSX	BLNK	SLND	KNOP	SHIP	PAMT	YDDL
SLDP		0.13	-0.58	0.62	0.67	-0.09	-0.67	-0.49	-0.52	SLDP
FCEL	0.13		0.04	-0.42	0.17	0.63	-0.14	0.2	0.14	FCEL
DSX	-0.58	0.04		-0.4	-0.89	0.28	0.82	0.34	0.81	DSX
BLNK	0.62	-0.42	-0.4		0.39	-0.61	-0.24	-0.85	-0.51	BLNK
SLND	0.67	0.17	-0.89	0.39		-0.1	-0.79	-0.37	-0.78	SLND
KNOP	-0.09	0.63	0.28	-0.61	-0.1		0.07	0.48	0.27	KNOP
SHIP	-0.67	-0.14	0.82	-0.24	-0.79	0.07		0.19	0.5	SHIP
PAMT	-0.49	0.2	0.34	-0.85	-0.37	0.48	0.19		0.47	PAMT
YDDL	-0.52	0.14	0.81	-0.51	-0.78	0.27	0.5	0.47		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	+ 0.82	DSX
YDDL	+ 0.81	DSX
SLND	+ 0.67	SLDP
KNOP	+ 0.63	FCEL
BLNK	+ 0.62	SLDP
YDDL	+ 0.5	SHIP

High negative correlations

SLND	- 0.89	DSX
PAMT	- 0.85	BLNK
SHIP	- 0.79	SLND
YDDL	- 0.78	SLND
SHIP	- 0.67	SLDP
KNOP	- 0.61	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	3.34	(0.89)	0.00	(0.40)	0.00	0.00	5.89	(7.46)	19.34
FCEL	4.47	0.31	0.06	0.25	5.31	(4.61)	11.76	(10.26)	35.51
DSX	2.56	0.64	0.23	(1.24)	1.97	(3.42)	6.42	(3.68)	14.10
BLNK	4.26	(1.11)	0.00	(0.46)	0.00	0.00	9.38	(8.33)	30.46
SLND	4.12	(1.50)	0.00	(0.69)	0.00	0.00	8.20	(10.22)	33.71
KNOP	1.30	0.07	0.01	0.53	1.32	(1.52)	4.00	(2.13)	8.88
SHIP	1.87	0.56	0.28	1.20	1.43	(2.28)	5.16	(2.74)	9.88
PAMT	3.27	0.08	0.04	0.10	3.67	(3.70)	7.44	(6.64)	17.89
YDDL	4.27	0.54	0.10	(1.32)	4.23	(5.04)	11.02	(6.46)	31.17

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