Genco Shipping Correlations
| GNK Stock | USD 16.86 0.13 0.78% |
The current 90-days correlation between Genco Shipping Trading and Star Bulk Carriers is 0.74 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Genco Shipping moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Genco Shipping Trading moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Genco Shipping Correlation With Market
Weak diversification
The correlation between Genco Shipping Trading and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genco Shipping Trading and DJI in the same portfolio, assuming nothing else is changed.
Genco |
Moving together with Genco Stock
| 0.73 | SB | Safe Bulkers Potential Growth | PairCorr |
| 0.73 | ESEA | Euroseas | PairCorr |
| 0.64 | GSL | Global Ship Lease | PairCorr |
| 0.97 | GOGL | Golden Ocean Group Earnings Call This Week | PairCorr |
| 0.91 | HSHP | Himalaya Shipping | PairCorr |
| 0.74 | PANL | Pangaea Logistic | PairCorr |
| 0.87 | SBLK | Star Bulk Carriers | PairCorr |
Moving against Genco Stock
| 0.37 | SB-PC | Safe Bulkers | PairCorr |
| 0.47 | ULTRF | Ultrapetrol Bahamas | PairCorr |
| 0.45 | CMRE-PD | Costamare | PairCorr |
| 0.42 | CMRE-PC | Costamare | PairCorr |
| 0.38 | HTCO | Caravelle International Symbol Change | PairCorr |
| 0.31 | DSX-PB | Diana Shipping | PairCorr |
| 0.56 | PSHG | Performance Shipping Earnings Call Today | PairCorr |
Related Correlations Analysis
| 0.52 | 0.9 | -0.36 | 0.68 | 0.71 | SBLK | ||
| 0.52 | 0.72 | -0.02 | 0.6 | 0.63 | TOPS | ||
| 0.9 | 0.72 | -0.19 | 0.73 | 0.87 | SHIP | ||
| -0.36 | -0.02 | -0.19 | -0.2 | -0.13 | PSHG | ||
| 0.68 | 0.6 | 0.73 | -0.2 | 0.67 | GLBS | ||
| 0.71 | 0.63 | 0.87 | -0.13 | 0.67 | 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Genco Stock performing well and Genco Shipping 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 Genco Shipping'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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SBLK | 1.54 | (0.23) | 0.00 | (0.18) | 0.00 | 3.44 | 10.19 | |||
| TOPS | 1.70 | (0.22) | 0.00 | (1.34) | 0.00 | 5.29 | 10.00 | |||
| SHIP | 1.90 | (0.38) | 0.00 | (1.18) | 0.00 | 3.74 | 12.44 | |||
| PSHG | 1.51 | (0.13) | 0.00 | 1.05 | 0.00 | 2.70 | 11.80 | |||
| GLBS | 2.55 | (0.08) | (0.04) | 0.02 | 2.64 | 7.57 | 18.26 | |||
| USEA | 1.32 | (0.27) | 0.00 | 7.85 | 0.00 | 2.38 | 10.21 |