Performance Shipping Correlations

PSHG Stock

USD 2.03 0.08 3.79%

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

Performance Shipping Correlation With Market

Significant diversification

The correlation between Performance Shipping and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Performance Shipping and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Performance Stock

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

For more detail on how to invest in Performance Stock please use our How to Invest in Performance Shipping guide.

Moving together with Performance Stock

0.84	SHIP	Seanergy Maritime	Pair Corr
0.67	ACN	Accenture plc	Pair Corr
0.73	PNGZF	Paringa Resources	Pair Corr
0.66	SANM	Sanmina	Pair Corr
0.66	DQ	Daqo New Energy	Pair Corr
0.65	ATI	Allegheny Technologies	Pair Corr
0.7	ACR-PC	ACRES Commercial Realty	Pair Corr
0.64	TLSNY	Telia Company	Pair Corr
0.72	WSFS	WSFS Financial	Pair Corr
0.67	F	Ford Motor Aggressive Push	Pair Corr
0.78	BOF	BranchOut Food Common	Pair Corr

Moving against Performance Stock

0.75	RBNE	Robin Energy Symbol Change	Pair Corr
0.74	EQC	Equity Commonwealth	Pair Corr
0.5	ROBOF	RoboGroup TEK	Pair Corr
0.45	CCEC	Capital Clean Energy	Pair Corr
0.65	JAKK	JAKKS Pacific	Pair Corr
0.58	LPG	Dorian LPG	Pair Corr
0.32	ASTS	Ast Spacemobile Aggressive Push	Pair Corr

Related Correlations Analysis

	TOPS	GLBS	NCT	VNTG	PXS	CTRM	EHLD	XTIA	BURU	SIDU
TOPS		-0.61	0.68	0.06	-0.26	-0.47	0.31	0.53	0.41	-0.61	TOPS
GLBS	-0.61		-0.85	-0.26	0.55	0.63	0.18	-0.36	-0.59	0.41	GLBS
NCT	0.68	-0.85		0.45	-0.4	-0.43	-0.17	0.45	0.78	-0.42	NCT
VNTG	0.06	-0.26	0.45		0.08	0.04	-0.07	0.18	0.44	-0.05	VNTG
PXS	-0.26	0.55	-0.4	0.08		0.57	0.34	-0.15	-0.19	0.06	PXS
CTRM	-0.47	0.63	-0.43	0.04	0.57		-0.01	-0.28	-0.11	0.22	CTRM
EHLD	0.31	0.18	-0.17	-0.07	0.34	-0.01		-0.05	-0.32	-0.2	EHLD
XTIA	0.53	-0.36	0.45	0.18	-0.15	-0.28	-0.05		0.4	0.02	XTIA
BURU	0.41	-0.59	0.78	0.44	-0.19	-0.11	-0.32	0.4		-0.18	BURU
SIDU	-0.61	0.41	-0.42	-0.05	0.06	0.22	-0.2	0.02	-0.18		SIDU
	TOPS	GLBS	NCT	VNTG	PXS	CTRM	EHLD	XTIA	BURU	SIDU

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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

BURU	+ 0.78	NCT
NCT	+ 0.68	TOPS
CTRM	+ 0.63	GLBS
CTRM	+ 0.57	PXS
PXS	+ 0.55	GLBS
XTIA	+ 0.53	TOPS

High negative correlations

NCT	- 0.85	GLBS
SIDU	- 0.61	TOPS
GLBS	- 0.61	TOPS
BURU	- 0.59	GLBS
CTRM	- 0.47	TOPS
CTRM	- 0.43	NCT

Risk-Adjusted Indicators

There is a big difference between Performance Stock performing well and Performance 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 Performance 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
TOPS	1.90	(0.08)	0.00	(0.05)	0.00	0.00	5.10	(4.23)	12.72
GLBS	3.64	0.75	0.15	1.41	3.43	(5.08)	12.58	(7.01)	26.30
NCT	5.98	(2.63)	0.00	(1.05)	0.00	0.00	10.00	(16.67)	46.11
VNTG	4.76	(1.80)	0.00	(1.05)	0.00	0.00	6.93	(9.09)	83.66
PXS	1.54	0.02	0.00	0.10	1.71	(1.84)	3.08	(2.90)	12.39
CTRM	2.11	(0.08)	(0.02)	0.01	2.61	(2.60)	6.25	(4.98)	18.43
EHLD	1.15	0.07	(0.01)	(0.30)	1.57	(1.33)	3.00	(2.48)	9.31
XTIA	4.19	0.11	0.05	0.11	4.53	(4.65)	10.49	(7.55)	25.06
BURU	7.82	0.21	0.03	0.15	7.94	(14.00)	24.14	(14.71)	113.85
SIDU	10.88	3.23	0.39	1.73	7.36	(15.91)	34.88	(12.27)	125.36

Performance Shipping Corporate Management

Eleni Leontari	Financial Director	Profile
Andreas Michalopoulos	CEO, MD	Profile
Captain Gavalas	Operations Director	Profile
Andreas Mavrommatis	Chief Accountant	Profile
Argyris Chachalis	Technical Director	Profile
Aikaterini Oikonomea	Legal Counsel	Profile
Anthony Argyropoulos	Chief Officer	Profile

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