Safe Bulkers Correlations

SB Stock

USD 5.03 0.17 3.50%

The current 90-days correlation between Safe Bulkers and Ardmore Shpng is 0.32 (i.e., 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

Modest diversification

The correlation between Safe Bulkers and DJI is 0.28 (i.e., Modest 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

0.65	EDRY	EuroDry	Pair Corr
0.69	FLNG	FLEX LNG	Pair Corr
0.94	DAC	Danaos	Pair Corr
0.82	DSX	Diana Shipping	Pair Corr
0.89	GNK	Genco Shipping Trading	Pair Corr
0.87	KEX	Kirby	Pair Corr
0.79	ALC	Algoma Central	Pair Corr
0.81	ZIM	ZIM Integrated Shipping	Pair Corr
0.67	GLBS	Globus Maritime	Pair Corr
0.76	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.73	MATX	Matson Inc	Pair Corr
0.86	201872	China Merchants Port	Pair Corr
0.88	PSHG	Performance Shipping	Pair Corr
0.87	SBLK	Star Bulk Carriers	Pair Corr
0.93	SHIP	Seanergy Maritime	Pair Corr
0.9	CMRE	Costamare	Pair Corr
0.66	ERHE	ERHC Energy	Pair Corr
0.82	BYSD	Bayside Corp	Pair Corr
0.74	NRC	National Research Corp	Pair Corr
0.8	INVA	Innoviva	Pair Corr

Moving against Safe Stock

0.87	LSH	Lakeside Holding	Pair Corr
0.69	NCT	Intercont Limited	Pair Corr
0.57	CDLR	Cadeler AS	Pair Corr
0.55	CCEC	Capital Clean Energy	Pair Corr
0.53	OCEA	Ocean Biomedical	Pair Corr
0.43	CISS	C3is Inc	Pair Corr
0.39	FSTF	First State Financial	Pair Corr

Related Correlations Analysis

	ASC	CLCO	ESEA	KFRC	EBF	KNOP	CVLG	CODI	CMDB	PANL
ASC		0.03	0.55	-0.38	-0.76	-0.11	-0.85	0.2	-0.27	-0.14	ASC
CLCO	0.03		0.24	0.47	0.29	0.83	0.09	-0.59	0.47	0.81	CLCO
ESEA	0.55	0.24		0.0	-0.17	0.2	-0.37	0.05	0.32	0.3	ESEA
KFRC	-0.38	0.47	0.0		0.71	0.61	0.47	-0.65	0.55	0.65	KFRC
EBF	-0.76	0.29	-0.17	0.71		0.49	0.84	-0.47	0.63	0.54	EBF
KNOP	-0.11	0.83	0.2	0.61	0.49		0.28	-0.76	0.63	0.88	KNOP
CVLG	-0.85	0.09	-0.37	0.47	0.84	0.28		-0.3	0.41	0.28	CVLG
CODI	0.2	-0.59	0.05	-0.65	-0.47	-0.76	-0.3		-0.37	-0.67	CODI
CMDB	-0.27	0.47	0.32	0.55	0.63	0.63	0.41	-0.37		0.83	CMDB
PANL	-0.14	0.81	0.3	0.65	0.54	0.88	0.28	-0.67	0.83		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

PANL	+ 0.88	KNOP
CVLG	+ 0.84	EBF
KNOP	+ 0.83	CLCO
PANL	+ 0.83	CMDB
PANL	+ 0.81	CLCO
EBF	+ 0.71	KFRC

High negative correlations

CVLG	- 0.85	ASC
CODI	- 0.76	KNOP
EBF	- 0.76	ASC
PANL	- 0.67	CODI
CODI	- 0.65	KFRC
CODI	- 0.59	CLCO

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	1.63	(0.20)	0.00	(0.55)	0.00	0.00	3.51	(3.28)	9.16
CLCO	0.28	0.00	(0.13)	0.08	0.38	(0.31)	0.62	(0.62)	2.26
ESEA	1.92	(0.23)	0.00	(0.09)	0.00	0.00	3.91	(4.93)	18.11
KFRC	2.08	0.11	0.04	0.23	2.02	(2.53)	2.82	(3.74)	32.43
EBF	1.01	(0.03)	(0.06)	0.00	1.25	(1.05)	1.88	(2.02)	6.67
KNOP	1.48	0.24	0.13	0.71	1.26	(1.79)	3.99	(2.12)	12.60
CVLG	1.65	0.04	0.04	0.10	2.17	(1.87)	4.62	(2.92)	12.63
CODI	4.24	(0.39)	0.00	(0.38)	0.00	0.00	7.26	(7.77)	35.96
CMDB	1.83	0.06	0.02	0.15	2.17	(2.08)	2.63	(3.72)	15.86
PANL	1.96	0.40	0.20	0.51	1.64	(2.47)	4.65	(2.91)	22.74

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