Safe Bulkers Correlations

SBL Stock

EUR 5.00 0.16 3.31%

The current 90-days correlation between Safe Bulkers and Universal Display is 0.05 (i.e., Significant 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 0.58 (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.

The ability to find closely correlated positions to Safe Bulkers could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Safe Bulkers when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Safe Bulkers - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Safe Bulkers to buy it.

Moving together with Safe Stock

0.74	1KT	Keysight Technologies Earnings Call This Week	Pair Corr
0.79	TWZ	Trican Well Service Earnings Call Tomorrow	Pair Corr
0.78	PPQ	PPG INDUSTRIES	Pair Corr
0.66	HKT	HK Electric Investments	Pair Corr
0.71	TQI	TELECOM ITALIA	Pair Corr
0.67	PAE	PACCAR	Pair Corr
0.82	L3X	Centrais Elétricas Split	Pair Corr
0.68	G40	GDS Holdings Limited	Pair Corr
0.86	GPT	Genuine Parts	Pair Corr
0.64	LOR	LOral SA	Pair Corr
0.73	ELG	Elmos Semiconductor Earnings Call This Week	Pair Corr
0.63	3RB	RECKITT BENCK GRP	Pair Corr

Moving against Safe Stock

0.31	3HB	Hybrigenics Societe	Pair Corr
0.43	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.37	DBPD	Xtrackers ShortDAX	Pair Corr
0.33	8LU	TAURUS ENERGY AB	Pair Corr

Related Correlations Analysis

	CIN0	A6O	UVD	H1B	WED	IE2A	6GC
CIN0		0.88	0.15	0.69	0.78	0.77	-0.35	CIN0
A6O	0.88		0.2	0.59	0.88	0.87	-0.38	A6O
UVD	0.15	0.2		0.19	0.34	0.21	-0.04	UVD
H1B	0.69	0.59	0.19		0.51	0.63	-0.01	H1B
WED	0.78	0.88	0.34	0.51		0.71	-0.45	WED
IE2A	0.77	0.87	0.21	0.63	0.71		-0.32	IE2A
6GC	-0.35	-0.38	-0.04	-0.01	-0.45	-0.32		6GC
	CIN0	A6O	UVD	H1B	WED	IE2A	6GC

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

A6O	+ 0.88	CIN0
WED	+ 0.88	A6O
IE2A	+ 0.87	A6O
WED	+ 0.78	CIN0
IE2A	+ 0.77	CIN0
IE2A	+ 0.71	WED

High negative correlations

6GC	- 0.45	WED
6GC	- 0.38	A6O
6GC	- 0.35	CIN0
6GC	- 0.32	IE2A
6GC	- 0.04	UVD
6GC	- 0.01	H1B

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
CIN0	1.99	0.57	0.16	(2.53)	2.25	(2.55)	4.38	(3.59)	16.05
A6O	1.51	0.24	0.11	(2.92)	1.54	(1.80)	3.47	(2.41)	9.43
UVD	1.69	0.00	0.00	0.07	0.00	0.00	3.70	(4.28)	11.05
H1B	1.35	0.07	0.02	0.19	1.79	(1.70)	3.55	(2.78)	11.67
WED	1.46	0.28	0.12	1.52	1.48	(1.86)	2.90	(2.68)	9.12
IE2A	1.10	0.17	0.06	(0.40)	1.11	(1.82)	3.41	(2.26)	7.89
6GC	1.18	(0.04)	0.00	0.23	0.00	0.00	2.86	(2.78)	8.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in Safe Bulkers without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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