Performance Shipping Correlations

PSHG Stock

USD 2.23 0.06 2.76%

The current 90-days correlation between Performance Shipping and TOP Ships is 0.22 (i.e., Modest 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

Very good diversification

The correlation between Performance Shipping and DJI is -0.45 (i.e., Very good 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 against Performance Stock

0.6	VOS	Vossloh AG	Pair Corr
0.58	KEX	Kirby	Pair Corr
0.54	36K	Klaveness Combination	Pair Corr
0.51	FLNG	FLEX LNG	Pair Corr
0.49	T5N	AS Tallink Grupp	Pair Corr
0.48	DAC	Danaos	Pair Corr
0.48	ECO	Okeanis Eco Tankers	Pair Corr
0.44	DP4A	AP Mller	Pair Corr
0.44	DSX	Diana Shipping Earnings Call Today	Pair Corr
0.42	GNK	Genco Shipping Trading	Pair Corr
0.36	SB	Safe Bulkers	Pair Corr
0.33	GSL	Global Ship Lease	Pair Corr
0.67	BW9	BW LPG Limited	Pair Corr
0.63	B3O	Nordic American Tankers Earnings Call This Week	Pair Corr
0.62	1DH	Clarkson PLC	Pair Corr
0.54	DP4H	APMOELL MB UADR	Pair Corr
0.51	DP4B	AP Mller	Pair Corr
0.43	GNU1	Genco Shipping Trading	Pair Corr
0.42	PXS	Pyxis Tankers	Pair Corr
0.42	OYD	Pacific Basin Shipping	Pair Corr
0.39	MP2	MPC Container Ships Earnings Call This Week	Pair Corr
0.38	ALC	Algoma Central	Pair Corr
0.31	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.31	J1X	HIMALAYA SHIPPING LTD	Pair Corr

Related Correlations Analysis

	TOPS	GLBS	NCT	VNTG	PXS	CTRM	EHLD	XTIA	BURU	SIDU
TOPS		-0.57	0.84	0.35	-0.45	-0.45	0.69	-0.25	0.69	-0.64	TOPS
GLBS	-0.57		-0.74	-0.34	0.51	0.59	-0.33	0.33	-0.49	0.47	GLBS
NCT	0.84	-0.74		0.34	-0.57	-0.59	0.59	-0.38	0.59	-0.69	NCT
VNTG	0.35	-0.34	0.34		-0.56	-0.31	0.5	-0.31	0.55	-0.09	VNTG
PXS	-0.45	0.51	-0.57	-0.56		0.45	-0.69	0.69	-0.7	0.32	PXS
CTRM	-0.45	0.59	-0.59	-0.31	0.45		-0.32	0.07	-0.26	0.18	CTRM
EHLD	0.69	-0.33	0.59	0.5	-0.69	-0.32		-0.51	0.62	-0.43	EHLD
XTIA	-0.25	0.33	-0.38	-0.31	0.69	0.07	-0.51		-0.45	0.61	XTIA
BURU	0.69	-0.49	0.59	0.55	-0.7	-0.26	0.62	-0.45		-0.4	BURU
SIDU	-0.64	0.47	-0.69	-0.09	0.32	0.18	-0.43	0.61	-0.4		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

NCT	+ 0.84	TOPS
EHLD	+ 0.69	TOPS
BURU	+ 0.69	TOPS
XTIA	+ 0.69	PXS
BURU	+ 0.62	EHLD
SIDU	+ 0.61	XTIA

High negative correlations

NCT	- 0.74	GLBS
BURU	- 0.7	PXS
EHLD	- 0.69	PXS
SIDU	- 0.69	NCT
SIDU	- 0.64	TOPS
CTRM	- 0.59	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	2.12	(0.34)	0.00	(0.30)	0.00	0.00	5.10	(4.38)	15.25
GLBS	3.28	0.87	0.19	8.03	2.86	(4.56)	12.58	(7.01)	26.30
NCT	5.71	(2.03)	0.00	(0.74)	0.00	0.00	10.53	(15.52)	43.52
VNTG	2.39	(0.18)	0.00	(0.57)	0.00	0.00	5.95	(6.52)	18.89
PXS	2.27	0.49	0.18	1.78	2.09	(2.85)	7.82	(3.61)	16.06
CTRM	2.71	0.32	0.08	0.44	3.23	(3.16)	8.37	(4.27)	22.85
EHLD	1.00	(0.08)	0.00	(1.61)	0.00	0.00	2.59	(2.10)	9.31
XTIA	4.42	0.46	0.10	0.70	4.26	(5.54)	11.24	(6.51)	25.06
BURU	5.51	(1.51)	0.00	(0.40)	0.00	0.00	8.70	(13.33)	45.00
SIDU	12.15	2.67	0.27	0.69	9.47	(15.67)	34.88	(15.83)	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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