Pyxis Tankers Correlations

PXS Stock

USD 3.34 0.05 1.47%

The current 90-days correlation between Pyxis Tankers and TOP Ships is 0.23 (i.e., Modest diversification). The correlation of Pyxis Tankers 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.

Pyxis Tankers Correlation With Market

Poor diversification

The correlation between Pyxis Tankers and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pyxis Tankers and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Pyxis Stock

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

For more information on how to buy Pyxis Stock please use our How to Invest in Pyxis Tankers guide.

Moving together with Pyxis Stock

0.82	SB	Safe Bulkers	Pair Corr
0.74	EDRY	EuroDry	Pair Corr
0.83	DAC	Danaos	Pair Corr
0.8	DSX	Diana Shipping	Pair Corr
0.66	ECO	Okeanis Eco Tankers	Pair Corr
0.87	GNK	Genco Shipping Trading	Pair Corr
0.72	GSL	Global Ship Lease	Pair Corr
0.76	KEX	Kirby	Pair Corr
0.79	ALC	Algoma Central	Pair Corr
0.77	ZIM	ZIM Integrated Shipping	Pair Corr
0.62	GLBS	Globus Maritime	Pair Corr
0.82	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.84	MATX	Matson Inc	Pair Corr
0.75	PANL	Pangaea Logistic	Pair Corr
0.84	WTE	Westshore Terminals	Pair Corr
0.78	SBLK	Star Bulk Carriers	Pair Corr
0.68	SHIP	Seanergy Maritime	Pair Corr
0.75	CDLR	Cadeler AS	Pair Corr
0.7	CMRE	Costamare	Pair Corr
0.64	USEA	United Maritime	Pair Corr

Moving against Pyxis Stock

0.78	ICON	Icon Energy Corp	Pair Corr
0.68	NCT	Intercont Limited Earnings Call Tomorrow	Pair Corr
0.7	RJET	Republic Airways Holdings Symbol Change	Pair Corr
0.64	CISS	C3is Inc Buyout Trend	Pair Corr
0.38	RBNE	Robin Energy Symbol Change	Pair Corr
0.31	SIGL	Signal Advance	Pair Corr
0.31	HNRC	Houston Natural Resources	Pair Corr

Related Correlations Analysis

	TOPS	VNTG	PSHG	NCT	GLBS	CVV	NIXX	CTRM	XTIA	SIDU
TOPS		0.25	0.13	0.84	-0.66	-0.15	0.61	-0.48	-0.09	-0.72	TOPS
VNTG	0.25		-0.21	0.36	-0.39	-0.13	0.45	-0.3	-0.1	-0.18	VNTG
PSHG	0.13	-0.21		-0.14	0.34	-0.6	-0.09	0.31	-0.49	-0.38	PSHG
NCT	0.84	0.36	-0.14		-0.88	-0.18	0.78	-0.59	-0.18	-0.71	NCT
GLBS	-0.66	-0.39	0.34	-0.88		0.11	-0.68	0.61	0.13	0.58	GLBS
CVV	-0.15	-0.13	-0.6	-0.18	0.11		-0.22	0.06	0.83	0.59	CVV
NIXX	0.61	0.45	-0.09	0.78	-0.68	-0.22		-0.33	-0.26	-0.58	NIXX
CTRM	-0.48	-0.3	0.31	-0.59	0.61	0.06	-0.33		-0.02	0.26	CTRM
XTIA	-0.09	-0.1	-0.49	-0.18	0.13	0.83	-0.26	-0.02		0.57	XTIA
SIDU	-0.72	-0.18	-0.38	-0.71	0.58	0.59	-0.58	0.26	0.57		SIDU
	TOPS	VNTG	PSHG	NCT	GLBS	CVV	NIXX	CTRM	XTIA	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
XTIA	+ 0.83	CVV
NIXX	+ 0.78	NCT
NIXX	+ 0.61	TOPS
CTRM	+ 0.61	GLBS
SIDU	+ 0.59	CVV

High negative correlations

GLBS	- 0.88	NCT
SIDU	- 0.72	TOPS
SIDU	- 0.71	NCT
NIXX	- 0.68	GLBS
GLBS	- 0.66	TOPS
CVV	- 0.6	PSHG

Risk-Adjusted Indicators

There is a big difference between Pyxis Stock performing well and Pyxis Tankers 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 Pyxis Tankers' 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	1.87	(0.25)	0.00	(0.27)	0.00	0.00	3.65	(4.23)	12.10
VNTG	2.93	(0.04)	0.00	0.10	0.00	0.00	6.93	(7.41)	22.86
PSHG	2.29	0.10	0.02	0.37	3.16	(2.57)	4.98	(4.25)	16.86
NCT	5.67	(2.17)	0.00	(0.95)	0.00	0.00	10.00	(15.52)	46.11
GLBS	3.09	0.62	0.13	1.65	2.91	(4.71)	12.58	(7.01)	26.30
CVV	3.66	0.41	0.10	0.24	4.11	(4.27)	8.05	(7.05)	39.46
NIXX	3.72	(1.08)	0.00	(0.60)	0.00	0.00	6.90	(8.42)	33.17
CTRM	2.72	0.21	0.06	0.17	3.32	(3.26)	8.37	(5.85)	18.43
XTIA	4.60	0.22	0.05	0.18	4.59	(5.71)	11.24	(7.91)	25.06
SIDU	11.75	2.44	0.27	0.69	8.53	(17.32)	34.88	(14.96)	125.36

Pyxis Tankers Corporate Executives

Elected by the shareholders, the Pyxis Tankers' board of directors comprises two types of representatives: Pyxis Tankers inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pyxis. The board's role is to monitor Pyxis Tankers' management team and ensure that shareholders' interests are well served. Pyxis Tankers' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Pyxis Tankers' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Henry Williams	CFO and Treasurer	Profile
	Konstantinos Lytras	COO Secretary	Profile

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