Safe Bulkers Correlations

SB Stock

USD 5.83 0.05 0.87%

The current 90-days correlation between Safe Bulkers and Ardmore Shpng is 0.28 (i.e., Modest diversification). The correlation of Safe Bulkers 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.

Safe Bulkers Correlation With Market

Poor diversification

The correlation between Safe Bulkers and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Safe Bulkers and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Safe Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Safe Bulkers. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade Safe Stock refer to our How to Trade Safe Stock guide.

Moving together with Safe Stock

0.69	37H	Global Ship Lease	Pair Corr
0.9	DAC	Danaos Earnings Call This Week	Pair Corr
0.89	DSX	Diana Shipping	Pair Corr
0.74	ECO	Okeanis Eco Tankers	Pair Corr
0.91	GNK	Genco Shipping Trading Earnings Call This Week	Pair Corr
0.86	GSL	Global Ship Lease	Pair Corr
0.78	ALC	Algoma Central	Pair Corr
0.65	ZIM	ZIM Integrated Shipping	Pair Corr
0.9	HSHP	Himalaya Shipping Earnings Call Today	Pair Corr
0.89	GNU1	Genco Shipping Trading Earnings Call This Week	Pair Corr
0.7	SZL	SOLSTAD OFFSHORE Earnings Call This Week	Pair Corr
0.78	MATX	Matson Inc	Pair Corr
0.82	PANL	Pangaea Logistic	Pair Corr
0.66	PSIG	PS International	Pair Corr
0.8	WTE	Westshore Terminals	Pair Corr
0.7	SZL	Solstad Offshore ASA Earnings Call This Week	Pair Corr
0.79	CDLR	Cadeler AS	Pair Corr
0.77	CMRE	Costamare Earnings Call Tomorrow	Pair Corr
0.74	EC	Ecopetrol SA ADR	Pair Corr

Moving against Safe Stock

0.73	ICON	Icon Energy Corp	Pair Corr
0.32	LSH	Lakeside Holding	Pair Corr
0.54	PTAIF	PT Astra International	Pair Corr
0.48	QHD	Qinhuangdao Port	Pair Corr
0.39	CISS	C3is Inc	Pair Corr

Related Correlations Analysis

	ASC	CLCO	ESEA	KFRC	EBF	KNOP	CVLG	CODI	CMDB	PANL
ASC		-0.54	0.33	0.02	-0.04	-0.4	-0.11	0.67	-0.01	0.07	ASC
CLCO	-0.54		-0.48	0.46	0.53	0.72	0.57	-0.41	0.24	0.45	CLCO
ESEA	0.33	-0.48		-0.65	-0.63	-0.44	-0.64	0.46	-0.1	-0.25	ESEA
KFRC	0.02	0.46	-0.65		0.93	0.6	0.93	0.01	0.39	0.6	KFRC
EBF	-0.04	0.53	-0.63	0.93		0.69	0.97	0.1	0.61	0.77	EBF
KNOP	-0.4	0.72	-0.44	0.6	0.69		0.71	-0.24	0.47	0.6	KNOP
CVLG	-0.11	0.57	-0.64	0.93	0.97	0.71		0.01	0.58	0.72	CVLG
CODI	0.67	-0.41	0.46	0.01	0.1	-0.24	0.01		0.38	0.28	CODI
CMDB	-0.01	0.24	-0.1	0.39	0.61	0.47	0.58	0.38		0.8	CMDB
PANL	0.07	0.45	-0.25	0.6	0.77	0.6	0.72	0.28	0.8		PANL
	ASC	CLCO	ESEA	KFRC	EBF	KNOP	CVLG	CODI	CMDB	PANL

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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

CVLG	+ 0.97	EBF
EBF	+ 0.93	KFRC
CVLG	+ 0.93	KFRC
PANL	+ 0.8	CMDB
PANL	+ 0.77	EBF
KNOP	+ 0.72	CLCO

High negative correlations

KFRC	- 0.65	ESEA
CVLG	- 0.64	ESEA
EBF	- 0.63	ESEA
CLCO	- 0.54	ASC
ESEA	- 0.48	CLCO
KNOP	- 0.44	ESEA

Risk-Adjusted Indicators

There is a big difference between Safe Stock performing well and Safe Bulkers 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 Safe Bulkers' 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
ASC	1.56	0.12	0.03	1.32	1.58	(1.80)	4.34	(2.74)	9.74
CLCO	0.28	0.01	(0.16)	0.31	0.37	(0.31)	0.62	(0.62)	2.26
ESEA	1.69	(0.13)	0.00	(0.06)	0.00	0.00	3.05	(3.50)	13.57
KFRC	1.88	0.05	0.03	0.14	2.09	(2.09)	3.73	(3.73)	11.10
EBF	0.96	0.25	0.17	0.56	0.91	(1.10)	2.20	(1.87)	4.45
KNOP	1.24	0.07	(0.01)	0.97	1.30	(1.45)	4.00	(2.13)	8.88
CVLG	1.80	0.40	0.26	0.32	1.36	(2.25)	5.70	(2.57)	11.04
CODI	4.05	0.23	0.05	0.22	5.53	(4.08)	9.07	(6.84)	35.68
CMDB	1.94	0.56	0.28	1.10	1.54	(2.36)	4.50	(3.29)	15.86
PANL	2.58	0.94	0.45	1.00	1.49	(3.43)	7.93	(3.68)	22.74

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