Safe Bulkers Correlations

SB Stock

USD 3.45 0.02 0.58%

The current 90-days correlation between Safe Bulkers and Global Ship Lease is 0.2 (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

Good diversification

The correlation between Safe Bulkers and DJI is -0.03 (i.e., Good 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.

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

0.86	OP	Oceanpal	Pair Corr
0.87	EDRY	EuroDry	Pair Corr
0.95	PXSAW	Pyxis Tankers	Pair Corr
0.92	ESEA	Euroseas	Pair Corr
0.72	DAC	Danaos	Pair Corr
0.84	DSX	Diana Shipping	Pair Corr
0.87	GNK	Genco Shipping Trading	Pair Corr
0.78	GSL	Global Ship Lease	Pair Corr
0.86	KEX	Kirby Earnings Call Today	Pair Corr
0.64	NAT	Nordic American Tankers	Pair Corr
0.9	NMM	Navios Maritime Partners	Pair Corr
0.69	PXS	Pyxis Tankers	Pair Corr
0.71	GLBS	Globus Maritime	Pair Corr
0.92	GOGL	Golden Ocean Group Buyout Trend	Pair Corr
0.74	HSHP	Himalaya Shipping	Pair Corr
0.73	MATX	Matson Inc	Pair Corr
0.64	PANL	Pangaea Logistic	Pair Corr
0.65	PSHG	Performance Shipping	Pair Corr
0.96	SBLK	Star Bulk Carriers	Pair Corr
0.89	SHIP	Seanergy Maritime	Pair Corr

Moving against Safe Stock

0.87	HTCO	Caravelle International Symbol Change	Pair Corr
0.94	B	Barnes Group	Pair Corr
0.91	BA	Boeing	Pair Corr
0.8	AP	Ampco Pittsburgh	Pair Corr
0.65	BE	Bloom Energy Corp Upward Rally	Pair Corr
0.62	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.52	DIST	Distoken Acquisition	Pair Corr

Related Correlations Analysis

	GSL	CMRE	NMM	GNK	EGLE	SBLK	GOGL	DSX	USEA	TOPS
GSL		0.81	0.86	0.62	-0.1	0.83	0.78	0.91	0.76	0.73	GSL
CMRE	0.81		0.83	0.88	-0.41	0.9	0.91	0.79	0.67	0.66	CMRE
NMM	0.86	0.83		0.72	-0.22	0.91	0.83	0.88	0.89	0.89	NMM
GNK	0.62	0.88	0.72		-0.62	0.9	0.95	0.64	0.66	0.71	GNK
EGLE	-0.1	-0.41	-0.22	-0.62		-0.4	-0.42	-0.1	-0.24	-0.24	EGLE
SBLK	0.83	0.9	0.91	0.9	-0.4		0.97	0.88	0.87	0.83	SBLK
GOGL	0.78	0.91	0.83	0.95	-0.42	0.97		0.83	0.78	0.77	GOGL
DSX	0.91	0.79	0.88	0.64	-0.1	0.88	0.83		0.86	0.74	DSX
USEA	0.76	0.67	0.89	0.66	-0.24	0.87	0.78	0.86		0.83	USEA
TOPS	0.73	0.66	0.89	0.71	-0.24	0.83	0.77	0.74	0.83		TOPS
	GSL	CMRE	NMM	GNK	EGLE	SBLK	GOGL	DSX	USEA	TOPS

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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

GOGL	+ 0.97	SBLK
GOGL	+ 0.95	GNK
DSX	+ 0.91	GSL
GOGL	+ 0.91	CMRE
SBLK	+ 0.91	NMM
SBLK	+ 0.9	CMRE

High negative correlations

EGLE	- 0.62	GNK
GOGL	- 0.42	EGLE
EGLE	- 0.41	CMRE
SBLK	- 0.4	EGLE
TOPS	- 0.24	EGLE
USEA	- 0.24	EGLE

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GSL	1.16	(0.14)	(0.84)	2.75	(2.42)	7.98
CMRE	1.37	(0.20)	(0.77)	2.24	(3.22)	10.28
NMM	1.64	(0.48)	(8.71)	2.93	(3.55)	12.25
GNK	1.44	(0.11)	(0.24)	3.06	(2.67)	9.22
EGLE	1.56	(0.10)	(1.56)	3.14	(3.92)	10.32
SBLK	1.38	(0.30)	(1.25)	3.04	(3.34)	8.46
GOGL	1.62	(0.18)	(0.73)	3.84	(3.02)	11.42
DSX	1.78	(0.26)	(4.36)	3.24	(3.93)	16.80
USEA	1.87	(0.25)	2.57	3.17	(4.46)	13.14
TOPS	2.03	(0.55)	(0.90)	5.22	(5.56)	15.50

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