Safe Bulkers Correlations

SB Stock

USD 6.66 0.15 2.30%

The current 90-days correlation between Safe Bulkers and Ardmore Shpng is 0.4 (i.e., Very weak 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

Very weak diversification

The correlation between Safe Bulkers and DJI is 0.53 (i.e., Very weak 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

0.76	0LQ	EURODRY LTD DL	Pair Corr
0.91	36K	Klaveness Combination	Pair Corr
0.81	EDRY	EuroDry	Pair Corr
0.76	D7P	Liaoning Port CoLtd	Pair Corr
0.64	ESEA	Euroseas	Pair Corr
0.92	37H	Global Ship Lease Earnings Call This Week	Pair Corr
0.99	SBL	Safe Bulkers	Pair Corr
0.83	FLNG	FLEX LNG	Pair Corr
0.64	T5N	AS Tallink Grupp	Pair Corr
0.96	DAC	Danaos	Pair Corr
0.96	DSX	Diana Shipping	Pair Corr
0.94	ECO	Okeanis Eco Tankers	Pair Corr
0.96	GNK	Genco Shipping Trading	Pair Corr
0.95	GSL	Global Ship Lease	Pair Corr
0.71	KEX	Kirby	Pair Corr
0.91	PXS	Pyxis Tankers	Pair Corr
0.9	ALC	Algoma Central Earnings Call This Week	Pair Corr
0.79	ZIM	ZIM Integrated Shipping	Pair Corr
0.62	GLBS	Globus Maritime	Pair Corr
0.95	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.86	MP2	MPC Container Ships	Pair Corr
0.96	J1X	HIMALAYA SHIPPING LTD	Pair Corr
0.93	B3O	Nordic American Tankers	Pair Corr

Moving against Safe Stock

0.51	LSH	Lakeside Holding	Pair Corr
0.42	EHLD	Euroholdings Symbol Change	Pair Corr
0.76	ICON	Icon Energy Corp Buyout Trend	Pair Corr
0.34	HTCO	Caravelle International	Pair Corr

Related Correlations Analysis

	ASC	CLCO	ESEA	KFRC	EBF	KNOP	CVLG	CODI	CMDB	PANL
ASC		0.12	0.72	-0.47	0.78	0.03	0.7	0.84	0.82	0.85	ASC
CLCO	0.12		-0.35	0.47	0.53	0.32	0.66	-0.07	0.2	0.33	CLCO
ESEA	0.72	-0.35		-0.76	0.23	-0.15	0.13	0.69	0.55	0.46	ESEA
KFRC	-0.47	0.47	-0.76		-0.02	0.33	0.09	-0.43	-0.44	-0.21	KFRC
EBF	0.78	0.53	0.23	-0.02		0.34	0.96	0.55	0.7	0.88	EBF
KNOP	0.03	0.32	-0.15	0.33	0.34		0.4	-0.22	-0.05	0.26	KNOP
CVLG	0.7	0.66	0.13	0.09	0.96	0.4		0.43	0.64	0.81	CVLG
CODI	0.84	-0.07	0.69	-0.43	0.55	-0.22	0.43		0.72	0.73	CODI
CMDB	0.82	0.2	0.55	-0.44	0.7	-0.05	0.64	0.72		0.81	CMDB
PANL	0.85	0.33	0.46	-0.21	0.88	0.26	0.81	0.73	0.81		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	+ 0.96	EBF
PANL	+ 0.88	EBF
PANL	+ 0.85	ASC
CODI	+ 0.84	ASC
CMDB	+ 0.82	ASC
PANL	+ 0.81	CVLG

High negative correlations

KFRC	- 0.76	ESEA
KFRC	- 0.47	ASC
CMDB	- 0.44	KFRC
CODI	- 0.43	KFRC
ESEA	- 0.35	CLCO
CODI	- 0.22	KNOP

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	1.64	0.42	0.22	2.14	1.25	(1.96)	4.16	(2.62)	11.49
CLCO	0.28	0.01	(0.13)	0.18	0.37	(0.31)	0.62	(0.62)	2.26
ESEA	1.57	0.27	0.11	0.92	1.66	(1.73)	4.05	(3.14)	9.25
KFRC	2.03	(0.20)	0.00	(0.10)	0.00	0.00	3.54	(5.01)	16.78
EBF	0.93	0.31	0.28	0.70	0.69	(1.15)	2.20	(1.77)	4.45
KNOP	1.25	0.11	0.03	1.81	1.15	(1.50)	3.55	(2.06)	8.88
CVLG	1.80	0.55	0.29	0.37	1.50	(2.06)	4.95	(2.92)	15.07
CODI	3.98	0.19	0.04	0.17	5.68	(3.88)	7.26	(6.76)	28.87
CMDB	1.92	0.31	0.11	1.17	2.08	(2.09)	3.76	(3.45)	16.54
PANL	2.12	0.42	0.18	0.50	2.04	(2.54)	3.80	(3.95)	22.73

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