Costamare Correlations

CMRE Stock

USD 9.60 0.05 0.52%

The current 90-days correlation between Costamare and Danaos is 0.47 (i.e., Very weak diversification). The correlation of Costamare 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.

Costamare Correlation With Market

Modest diversification

The correlation between Costamare and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Costamare and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Costamare Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Costamare. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Costamare Stock

0.61

ICON

Icon Energy Corp

Pair Corr

Moving against Costamare Stock

0.41	HTCO	Caravelle International Symbol Change	Pair Corr
0.39	HMR	Heidmar Maritime Holdings	Pair Corr
0.33	UFG	Uni Fuels Holdings	Pair Corr

Related Correlations Analysis

	DAC	GSL	CCEC	ESEA	NMM	SB
DAC		0.94	0.83	0.71	0.85	0.71	DAC
GSL	0.94		0.91	0.76	0.83	0.78	GSL
CCEC	0.83	0.91		0.72	0.81	0.73	CCEC
ESEA	0.71	0.76	0.72		0.56	0.89	ESEA
NMM	0.85	0.83	0.81	0.56		0.69	NMM
SB	0.71	0.78	0.73	0.89	0.69		SB
	DAC	GSL	CCEC	ESEA	NMM	SB

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Risk-Adjusted Indicators

There is a big difference between Costamare Stock performing well and Costamare 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 Costamare's 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
DAC	1.19	0.21	0.11	0.48	1.17	(1.37)	2.81	(2.02)	8.35
GSL	1.19	0.45	0.26	0.74	0.90	(1.39)	3.67	(2.69)	7.94
CCEC	2.02	0.62	0.27	28.79	1.35	(2.48)	7.10	(2.67)	11.55
ESEA	1.67	0.78	0.36	2.08	1.19	(2.02)	4.67	(2.33)	13.75
NMM	1.45	0.30	0.18	0.53	1.14	(1.75)	4.25	(2.25)	8.71
SB	1.29	0.21	0.10	0.49	1.27	(1.62)	3.28	(2.45)	9.14

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