Odyssey Marine Correlations

OMEX Stock

USD 0.49 0.01 2.08%

The current 90-days correlation between Odyssey Marine Explo and Network 1 Technologies is -0.08 (i.e., Good diversification). The correlation of Odyssey Marine 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.

Odyssey Marine Correlation With Market

Good diversification

The correlation between Odyssey Marine Exploration and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Odyssey Marine Exploration and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Odyssey Marine Exploration. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving against Odyssey Stock

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0.49	BTM	Bitcoin Depot	Pair Corr
0.45	VIRC	Virco Manufacturing	Pair Corr
0.44	WM	Waste Management	Pair Corr
0.43	ABM	ABM Industries	Pair Corr
0.41	VRSK	Verisk Analytics	Pair Corr
0.41	WLDN	Willdan Group	Pair Corr
0.39	NL	NL Industries	Pair Corr
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0.36	BV	BrightView Holdings	Pair Corr
0.36	FA	First Advantage Corp	Pair Corr
0.63	HQI	Hirequest	Pair Corr
0.62	MSA	MSA Safety	Pair Corr
0.61	HNI	HNI Corp	Pair Corr
0.53	CIX	CompX International	Pair Corr
0.5	FCN	FTI Consulting	Pair Corr
0.49	FORR	Forrester Research Earnings Call This Week	Pair Corr
0.46	DNB	Dun Bradstreet Holdings	Pair Corr
0.44	III	Information Services	Pair Corr
0.42	GFL	Gfl Environmental	Pair Corr
0.37	CLH	Clean Harbors	Pair Corr

Related Correlations Analysis

	FA	PFSW	DPUI	CASS	CVEO	NTIP	BV	MMS	CBZ	AZZ
FA		-0.25	-0.22	0.43	-0.39	-0.13	0.43	-0.56	0.36	0.75	FA
PFSW	-0.25		-0.48	-0.73	-0.19	0.74	-0.58	-0.15	0.53	-0.11	PFSW
DPUI	-0.22	-0.48		0.45	0.75	-0.47	0.49	0.73	-0.7	-0.3	DPUI
CASS	0.43	-0.73	0.45		0.21	-0.5	0.76	0.12	-0.26	0.46	CASS
CVEO	-0.39	-0.19	0.75	0.21		-0.23	0.27	0.82	-0.61	-0.33	CVEO
NTIP	-0.13	0.74	-0.47	-0.5	-0.23		-0.5	-0.29	0.54	0.16	NTIP
BV	0.43	-0.58	0.49	0.76	0.27	-0.5		0.33	-0.24	0.3	BV
MMS	-0.56	-0.15	0.73	0.12	0.82	-0.29	0.33		-0.59	-0.59	MMS
CBZ	0.36	0.53	-0.7	-0.26	-0.61	0.54	-0.24	-0.59		0.48	CBZ
AZZ	0.75	-0.11	-0.3	0.46	-0.33	0.16	0.3	-0.59	0.48		AZZ
	FA	PFSW	DPUI	CASS	CVEO	NTIP	BV	MMS	CBZ	AZZ

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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

MMS	+ 0.82	CVEO
BV	+ 0.76	CASS
AZZ	+ 0.75	FA
CVEO	+ 0.75	DPUI
NTIP	+ 0.74	PFSW
MMS	+ 0.73	DPUI

High negative correlations

CASS	- 0.73	PFSW
CBZ	- 0.7	DPUI
CBZ	- 0.61	CVEO
AZZ	- 0.59	MMS
CBZ	- 0.59	MMS
BV	- 0.58	PFSW

Risk-Adjusted Indicators

There is a big difference between Odyssey Stock performing well and Odyssey Marine 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 Odyssey Marine'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
FA	1.50	0.09	0.02	0.52	1.59	(1.71)	4.14	(3.01)	10.13
PFSW	2.08	0.19	0.04	2.84	2.81	(2.29)	5.84	(5.09)	17.10
DPUI	14.43	2.05	0.05	(0.93)	15.33	(61.46)	50.00	(33.33)	150.00
CASS	1.23	(0.05)	0.00	(0.04)	0.00	0.00	2.67	(2.71)	13.07
CVEO	1.32	(0.27)	0.00	(0.81)	0.00	0.00	3.23	(2.18)	8.38
NTIP	1.48	0.04	(0.01)	0.27	1.86	(1.81)	3.08	(2.94)	9.55
BV	1.68	(0.05)	(0.02)	0.00	3.07	(1.55)	2.69	(3.61)	19.91
MMS	1.28	(0.24)	0.00	(0.54)	0.00	0.00	2.23	(2.50)	9.73
CBZ	1.28	0.37	0.23	1.15	1.07	(1.47)	2.49	(1.79)	11.45
AZZ	1.64	0.15	0.06	0.30	2.02	(1.74)	2.80	(3.14)	15.54

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