Globus Maritime Correlations

GLBS Stock

USD 1.13 0.02 1.74%

The current 90-days correlation between Globus Maritime and TOP Ships is -0.16 (i.e., Good diversification). The correlation of Globus Maritime 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.

Globus Maritime Correlation With Market

Good diversification

The correlation between Globus Maritime and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globus Maritime and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Globus Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Globus Maritime. 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 more information on how to buy Globus Stock please use our How to Invest in Globus Maritime guide.

Moving together with Globus Stock

0.62	OP	Oceanpal	Pair Corr
0.73	RBNE	Robin Energy Symbol Change	Pair Corr

Moving against Globus Stock

0.4

HMR

Heidmar Maritime Holdings

Pair Corr

Related Correlations Analysis

	TOPS	SHIP	ESEA	CTRM	PSHG	PXS	IDXG
TOPS		0.4	0.21	0.48	0.34	-0.21	0.0	TOPS
SHIP	0.4		0.91	0.59	0.86	-0.3	0.0	SHIP
ESEA	0.21	0.91		0.48	0.87	-0.26	0.0	ESEA
CTRM	0.48	0.59	0.48		0.51	0.1	0.0	CTRM
PSHG	0.34	0.86	0.87	0.51		-0.25	0.0	PSHG
PXS	-0.21	-0.3	-0.26	0.1	-0.25		0.0	PXS
IDXG	0.0	0.0	0.0	0.0	0.0	0.0		IDXG
	TOPS	SHIP	ESEA	CTRM	PSHG	PXS	IDXG

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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

ESEA	+ 0.91	SHIP
PSHG	+ 0.87	ESEA
PSHG	+ 0.86	SHIP
CTRM	+ 0.59	SHIP
PSHG	+ 0.51	CTRM
CTRM	+ 0.48	TOPS

High negative correlations

PXS	- 0.3	SHIP
PXS	- 0.26	ESEA
PXS	- 0.25	PSHG
PXS	- 0.21	TOPS
IDXG	- 0.0	PXS
IDXG	- 0.0	PSHG

Risk-Adjusted Indicators

There is a big difference between Globus Stock performing well and Globus Maritime 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 Globus Maritime'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
TOPS	3.62	0.40	0.03	(4.21)	6.98	(3.71)	6.57	(6.17)	77.92
SHIP	1.96	0.27	0.12	0.41	1.82	(2.27)	4.86	(3.29)	10.47
ESEA	1.67	0.78	0.36	2.08	1.19	(2.02)	4.67	(2.33)	13.75
CTRM	2.28	0.11	0.01	0.38	2.45	(2.77)	5.53	(4.82)	13.20
PSHG	2.82	0.44	0.10	(17.92)	2.89	(3.35)	6.86	(4.32)	20.56
PXS	1.88	0.02	(0.04)	1.94	2.38	(2.03)	3.73	(4.37)	16.35
IDXG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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