StealthGas Correlations

GASS Stock

USD 6.57 0.00 0.00%

The current 90-days correlation between StealthGas and Cool Company is 0.04 (i.e., Significant diversification). The correlation of StealthGas 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. If the correlation is 0, the equities are not correlated; they are entirely random.

StealthGas Correlation With Market

Significant diversification

The correlation between StealthGas and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding StealthGas and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with StealthGas Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in StealthGas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy StealthGas Stock please use our How to Invest in StealthGas guide.

Moving together with StealthGas Stock

0.8	OP	Oceanpal	Pair Corr
0.81	SB	Safe Bulkers Earnings Call This Week	Pair Corr
0.7	SB-PC	Safe Bulkers	Pair Corr
0.84	EHLD	Euroholdings Symbol Change	Pair Corr
0.91	ESEA	Euroseas	Pair Corr
0.67	ASC	Ardmore Shpng	Pair Corr
0.83	DAC	Danaos	Pair Corr
0.77	DSX	Diana Shipping	Pair Corr
0.87	GSL	Global Ship Lease	Pair Corr
0.84	KEX	Kirby	Pair Corr
0.87	NAT	Nordic American Tankers	Pair Corr
0.65	NMM	Navios Maritime Partners Earnings Call This Week	Pair Corr
0.85	SFL	SFL Corporation	Pair Corr
0.75	HAFN	Hafnia Limited	Pair Corr
0.89	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.75	CMRE-PC	Costamare	Pair Corr
0.63	ICON	Icon Energy Corp	Pair Corr
0.74	DSX-PB	Diana Shipping	Pair Corr
0.74	GSL-PB	Global Ship Lease	Pair Corr
0.85	PANL	Pangaea Logistic	Pair Corr
0.91	PSHG	Performance Shipping	Pair Corr

Moving against StealthGas Stock

0.92	HMR	Heidmar Maritime Holdings	Pair Corr
0.8	UFG	Uni Fuels Holdings	Pair Corr
0.54	NCT	Intercont Limited	Pair Corr
0.34	PXS	Pyxis Tankers	Pair Corr
0.7	HTCO	Caravelle International Symbol Change	Pair Corr
0.34	CISS	C3is Inc	Pair Corr
0.31	CMDB	Costamare Bulkers	Pair Corr

Related Correlations Analysis

	CMRE	NMM	CLCO	SHIP	CCEC	ESEA	SB	DAC
CMRE		0.11	0.4	0.48	0.19	0.42	0.39	0.35	CMRE
NMM	0.11		0.75	0.82	0.85	0.77	0.85	0.89	NMM
CLCO	0.4	0.75		0.9	0.67	0.85	0.8	0.87	CLCO
SHIP	0.48	0.82	0.9		0.8	0.91	0.94	0.91	SHIP
CCEC	0.19	0.85	0.67	0.8		0.87	0.85	0.86	CCEC
ESEA	0.42	0.77	0.85	0.91	0.87		0.89	0.93	ESEA
SB	0.39	0.85	0.8	0.94	0.85	0.89		0.9	SB
DAC	0.35	0.89	0.87	0.91	0.86	0.93	0.9		DAC
	CMRE	NMM	CLCO	SHIP	CCEC	ESEA	SB	DAC

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Risk-Adjusted Indicators

There is a big difference between StealthGas Stock performing well and StealthGas 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 StealthGas' 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
CMRE	2.03	0.10	0.01	0.28	4.51	(2.05)	4.00	(2.94)	28.26
NMM	1.45	0.28	0.13	1.25	1.22	(1.70)	4.25	(2.25)	8.71
CLCO	1.91	0.41	0.11	10.92	2.10	(1.96)	3.72	(4.20)	11.26
SHIP	1.96	0.27	0.12	0.41	1.82	(2.27)	4.86	(3.29)	10.47
CCEC	2.14	0.45	0.16	1.21	1.90	(2.47)	7.10	(2.93)	12.21
ESEA	1.67	0.78	0.36	2.08	1.19	(2.02)	4.67	(2.33)	13.75
SB	1.29	0.21	0.10	0.49	1.27	(1.62)	3.28	(2.45)	9.14
DAC	1.20	0.20	0.08	0.74	1.24	(1.34)	2.81	(2.20)	8.35

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