Globus Maritime Correlations

GLBS Stock

USD 1.48 0.02 1.33%

The current 90-days correlation between Globus Maritime and TOP Ships is 0.08 (i.e., Significant diversification). The correlation of Globus Maritime 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.

Globus Maritime Correlation With Market

Average diversification

The correlation between Globus Maritime and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globus Maritime and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Globus Stock

0.68	ESEA	Euroseas	Pair Corr
0.63	DSX	Diana Shipping	Pair Corr
0.73	ECO	Okeanis Eco Tankers	Pair Corr
0.63	GSL	Global Ship Lease	Pair Corr
0.67	NAT	Nordic American Tankers Earnings Call Tomorrow	Pair Corr
0.88	NMM	Navios Maritime Partners	Pair Corr
0.61	SFL	SFL Corporation	Pair Corr
0.75	GASS	StealthGas	Pair Corr
0.68	HSHP	Himalaya Shipping	Pair Corr
0.63	PANL	Pangaea Logistic	Pair Corr
0.68	SBLK	Star Bulk Carriers	Pair Corr

Moving against Globus Stock

0.45	ULTRF	Ultrapetrol Bahamas	Pair Corr
0.36	HTCO	Caravelle International Symbol Change	Pair Corr
0.31	ICON	Icon Energy Corp	Pair Corr

Related Correlations Analysis

	SBLK	TOPS	SHIP	PSHG	USEA
SBLK		0.52	0.9	-0.36	0.71	SBLK
TOPS	0.52		0.72	-0.02	0.63	TOPS
SHIP	0.9	0.72		-0.19	0.87	SHIP
PSHG	-0.36	-0.02	-0.19		-0.13	PSHG
USEA	0.71	0.63	0.87	-0.13		USEA
	SBLK	TOPS	SHIP	PSHG	USEA

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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

SHIP	+ 0.9	SBLK
USEA	+ 0.87	SHIP
SHIP	+ 0.72	TOPS
USEA	+ 0.71	SBLK
USEA	+ 0.63	TOPS
TOPS	+ 0.52	SBLK

High negative correlations

PSHG	- 0.36	SBLK
PSHG	- 0.19	SHIP
USEA	- 0.13	PSHG
PSHG	- 0.02	TOPS

Risk-Adjusted Indicators

There is a big difference between Globus Stock performing well and Globus Maritime 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 Globus Maritime'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
SBLK	1.54	(0.23)	(0.18)	3.44	(3.57)	10.19
TOPS	1.70	(0.22)	(1.34)	5.29	(2.95)	10.00
SHIP	1.90	(0.38)	(1.18)	3.74	(3.88)	12.44
PSHG	1.51	(0.13)	1.05	2.70	(3.61)	11.80
USEA	1.32	(0.27)	7.85	2.38	(3.40)	10.21

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