Navios Maritime Correlations

NMM Stock

USD 42.48 1.07 2.46%

The current 90-days correlation between Navios Maritime Partners and Global Ship Lease is 0.43 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Navios Maritime moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Navios Maritime Partners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Navios Maritime Correlation With Market

Significant diversification

The correlation between Navios Maritime Partners and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Navios Maritime Partners and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Navios Maritime Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Navios Stock

0.65	OP	Oceanpal	Pair Corr
0.63	SB	Safe Bulkers	Pair Corr
0.68	ESEA	Euroseas	Pair Corr
0.88	DSX	Diana Shipping	Pair Corr
0.67	ECO	Okeanis Eco Tankers	Pair Corr
0.68	GNK	Genco Shipping Trading	Pair Corr
0.67	KEX	Kirby	Pair Corr
0.81	GLBS	Globus Maritime	Pair Corr
0.76	GOGL	Golden Ocean Group	Pair Corr
0.86	HSHP	Himalaya Shipping	Pair Corr
0.62	CMRE-PC	Costamare	Pair Corr
0.63	CMRE-PD	Costamare	Pair Corr
0.68	KNOP	KNOT Offshore Partners	Pair Corr
0.77	PANL	Pangaea Logistic	Pair Corr
0.75	PSHG	Performance Shipping	Pair Corr
0.9	SBLK	Star Bulk Carriers Sell-off Trend	Pair Corr
0.86	SHIP	Seanergy Maritime	Pair Corr
0.61	BWLP	BW LPG Limited	Pair Corr
0.9	CISS	C3is Inc	Pair Corr

Moving against Navios Stock

0.77	HTCO	Caravelle International Symbol Change	Pair Corr
0.38	GSL-PB	Global Ship Lease	Pair Corr
0.63	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.62	B	Barnes Group Earnings Call This Week	Pair Corr
0.53	BE	Bloom Energy Corp	Pair Corr
0.51	AP	Ampco Pittsburgh	Pair Corr

Related Correlations Analysis

	GSL	CMRE	GNK	EGLE	DAC	CPLP	ESEA	ASC	EDRY
GSL		0.77	0.57	0.0	0.55	0.0	0.57	0.23	0.47	GSL
CMRE	0.77		0.91	0.0	0.7	0.0	0.6	-0.15	0.33	CMRE
GNK	0.57	0.91		0.0	0.66	0.0	0.64	-0.15	0.38	GNK
EGLE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EGLE
DAC	0.55	0.7	0.66	0.0		0.0	0.54	-0.04	0.3	DAC
CPLP	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CPLP
ESEA	0.57	0.6	0.64	0.0	0.54	0.0		0.54	0.89	ESEA
ASC	0.23	-0.15	-0.15	0.0	-0.04	0.0	0.54		0.77	ASC
EDRY	0.47	0.33	0.38	0.0	0.3	0.0	0.89	0.77		EDRY
	GSL	CMRE	GNK	EGLE	DAC	CPLP	ESEA	ASC	EDRY

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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

GNK	+ 0.91	CMRE
EDRY	+ 0.89	ESEA
CMRE	+ 0.77	GSL
EDRY	+ 0.77	ASC
DAC	+ 0.7	CMRE
DAC	+ 0.66	GNK

High negative correlations

ASC	- 0.15	GNK
ASC	- 0.15	CMRE
ASC	- 0.04	DAC
EDRY	- 0.0	CPLP
ASC	- 0.0	CPLP
ESEA	- 0.0	CPLP

Risk-Adjusted Indicators

There is a big difference between Navios Stock performing well and Navios 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 Navios 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
GSL	1.18	(0.21)	(1.35)	2.59	(2.46)	7.98
CMRE	1.40	(0.22)	(0.67)	2.19	(3.56)	10.28
GNK	1.45	(0.19)	(0.47)	2.36	(3.38)	9.22
EGLE	0.00	0.00	0.00	0.00	0.00	0.00
DAC	1.19	(0.13)	0.48	2.46	(2.70)	8.98
CPLP	0.00	0.00	0.00	0.00	0.00	0.00
ESEA	1.82	(0.37)	(2.11)	3.65	(3.68)	10.77
ASC	1.81	(0.47)	1.14	3.49	(3.90)	12.06
EDRY	1.94	(0.85)	3.88	3.34	(5.23)	12.00

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