Globus Maritime Correlations

GLBS Stock

USD 1.41 0.00 0.00%

The current 90-days correlation between Globus Maritime and United Maritime is 0.14 (i.e., Average 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

Good diversification

The correlation between Globus Maritime and DJI is -0.01 (i.e., Good 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

0.88	OP	Oceanpal	Pair Corr
0.71	SB	Safe Bulkers	Pair Corr
0.89	EDRY	EuroDry	Pair Corr
0.8	PXSAW	Pyxis Tankers	Pair Corr
0.71	ESEA	Euroseas	Pair Corr
0.7	DSX	Diana Shipping	Pair Corr
0.8	ECO	Okeanis Eco Tankers	Pair Corr
0.68	GSL	Global Ship Lease	Pair Corr
0.62	KEX	Kirby	Pair Corr
0.87	NAT	Nordic American Tankers	Pair Corr
0.82	NMM	Navios Maritime Partners	Pair Corr
0.82	PXS	Pyxis Tankers	Pair Corr
0.67	GOGL	Golden Ocean Group	Pair Corr
0.74	HSHP	Himalaya Shipping	Pair Corr
0.71	KNOP	KNOT Offshore Partners	Pair Corr
0.81	PANL	Pangaea Logistic	Pair Corr
0.71	PSHG	Performance Shipping	Pair Corr
0.77	SBLK	Star Bulk Carriers	Pair Corr
0.88	SHIP	Seanergy Maritime	Pair Corr
0.65	SMHI	SEACOR Marine Holdings	Pair Corr

Moving against Globus Stock

0.67	HTCO	Caravelle International Symbol Change	Pair Corr
0.78	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.72	BA	Boeing	Pair Corr
0.71	BE	Bloom Energy Corp	Pair Corr
0.67	B	Barnes Group	Pair Corr
0.59	DIST	Distoken Acquisition	Pair Corr
0.5	GSL-PB	Global Ship Lease	Pair Corr
0.44	AL	Air Lease	Pair Corr
0.42	R	Ryder System	Pair Corr

Related Correlations Analysis

	SHIP	USEA	PSHG	CTRM	TOPS	SB	EDRY	CMRE	CPLP	GSL
SHIP		0.96	0.82	0.91	0.88	0.89	0.96	0.76	0.3	0.84	SHIP
USEA	0.96		0.76	0.88	0.83	0.84	0.95	0.67	0.25	0.76	USEA
PSHG	0.82	0.76		0.64	0.73	0.65	0.78	0.56	0.28	0.8	PSHG
CTRM	0.91	0.88	0.64		0.83	0.92	0.94	0.77	0.38	0.74	CTRM
TOPS	0.88	0.83	0.73	0.83		0.78	0.88	0.66	0.32	0.73	TOPS
SB	0.89	0.84	0.65	0.92	0.78		0.87	0.9	0.34	0.78	SB
EDRY	0.96	0.95	0.78	0.94	0.88	0.87		0.7	0.27	0.79	EDRY
CMRE	0.76	0.67	0.56	0.77	0.66	0.9	0.7		0.44	0.81	CMRE
CPLP	0.3	0.25	0.28	0.38	0.32	0.34	0.27	0.44		0.3	CPLP
GSL	0.84	0.76	0.8	0.74	0.73	0.78	0.79	0.81	0.3		GSL
	SHIP	USEA	PSHG	CTRM	TOPS	SB	EDRY	CMRE	CPLP	GSL

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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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SHIP	1.50	(0.50)	(1.00)	0.00	0.00	3.32	(3.49)	10.16
USEA	1.87	(0.25)	2.57	0.00	0.00	3.17	(4.46)	13.14
PSHG	2.07	(0.18)	0.35	0.00	0.00	4.65	(3.86)	16.04
CTRM	1.88	(0.69)	(1.77)	0.00	0.00	3.44	(4.45)	14.17
TOPS	2.03	(0.55)	(0.90)	0.00	0.00	5.22	(5.56)	15.50
SB	1.64	(0.33)	4.25	0.00	0.00	3.13	(3.42)	8.83
EDRY	2.03	(0.71)	8.90	0.00	0.00	4.40	(5.23)	12.00
CMRE	1.37	(0.20)	(0.77)	0.00	0.00	2.24	(3.22)	10.28
CPLP	1.52	0.07	5.40	2.13	(1.60)	3.59	(3.04)	14.99
GSL	1.16	(0.14)	(0.84)	0.00	0.00	2.75	(2.42)	7.98

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