Caravelle International Correlations

HTCO Stock

USD 0.21 0.01 4.55%

The current 90-days correlation between Caravelle International and LENSAR Inc is -0.14 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Caravelle International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caravelle International Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Caravelle International Correlation With Market

Significant diversification

The correlation between Caravelle International Group and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caravelle International Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Caravelle Stock

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

Moving together with Caravelle Stock

0.75	HMR	Heidmar Maritime Holdings	Pair Corr
0.74	UFG	Uni Fuels Holdings	Pair Corr

Moving against Caravelle Stock

0.83	GSL	Global Ship Lease	Pair Corr
0.78	SB	Safe Bulkers Earnings Call This Week	Pair Corr
0.76	ZIM	ZIM Integrated Shipping	Pair Corr
0.75	KEX	Kirby	Pair Corr
0.71	ESEA	Euroseas	Pair Corr
0.7	NAT	Nordic American Tankers	Pair Corr
0.7	GASS	StealthGas	Pair Corr
0.69	DSX	Diana Shipping	Pair Corr
0.69	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.67	NMM	Navios Maritime Partners Earnings Call This Week	Pair Corr
0.67	SFL	SFL Corporation	Pair Corr
0.67	HAFN	Hafnia Limited	Pair Corr
0.66	DAC	Danaos	Pair Corr
0.64	SB-PC	Safe Bulkers	Pair Corr
0.63	EHLD	Euroholdings Symbol Change	Pair Corr
0.52	CMRE-PC	Costamare	Pair Corr
0.5	OP	Oceanpal	Pair Corr
0.5	SB-PD	Safe Bulkers	Pair Corr
0.46	ASC	Ardmore Shpng	Pair Corr
0.39	GNK	Genco Shipping Trading	Pair Corr
0.33	EDRY	EuroDry	Pair Corr
0.79	SHIP	Seanergy Maritime	Pair Corr
0.78	PANL	Pangaea Logistic	Pair Corr
0.77	CCEC	Capital Clean Energy Symbol Change	Pair Corr
0.72	AZ	A2Z Smart Technologies	Pair Corr
0.71	SBLK	Star Bulk Carriers	Pair Corr
0.71	AP	Ampco Pittsburgh	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.69	BE	Bloom Energy Corp	Pair Corr
0.68	MATX	Matson Inc	Pair Corr

Related Correlations Analysis

	NDAQ	SEIC	TW	LNSR	SACH	MMSI	SEPSD	HCM
NDAQ		0.94	0.21	-0.72	0.71	-0.15	0.0	0.51	NDAQ
SEIC	0.94		0.27	-0.49	0.64	-0.08	0.0	0.39	SEIC
TW	0.21	0.27		0.13	-0.41	0.41	0.0	-0.46	TW
LNSR	-0.72	-0.49	0.13		-0.69	0.35	0.0	-0.65	LNSR
SACH	0.71	0.64	-0.41	-0.69		-0.4	0.0	0.79	SACH
MMSI	-0.15	-0.08	0.41	0.35	-0.4		0.0	-0.53	MMSI
SEPSD	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SEPSD
HCM	0.51	0.39	-0.46	-0.65	0.79	-0.53	0.0		HCM
	NDAQ	SEIC	TW	LNSR	SACH	MMSI	SEPSD	HCM

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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

SEIC	+ 0.94	NDAQ
HCM	+ 0.79	SACH
SACH	+ 0.71	NDAQ
SACH	+ 0.64	SEIC
HCM	+ 0.51	NDAQ
MMSI	+ 0.41	TW

High negative correlations

LNSR	- 0.72	NDAQ
SACH	- 0.69	LNSR
HCM	- 0.65	LNSR
HCM	- 0.53	MMSI
LNSR	- 0.49	SEIC
HCM	- 0.46	TW

Risk-Adjusted Indicators

There is a big difference between Caravelle Stock performing well and Caravelle International 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 Caravelle International'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
NDAQ	0.74	0.20	0.16	0.38	0.69	(0.82)	1.91	(1.46)	5.03
SEIC	1.02	0.21	0.20	0.30	0.71	(1.20)	2.60	(1.78)	9.87
TW	1.17	0.05	(0.02)	0.32	2.16	(0.98)	1.83	(3.66)	8.60
LNSR	0.88	(0.08)	0.00	(0.64)	0.00	0.00	2.04	(2.89)	6.10
SACH	2.83	0.22	0.04	0.83	3.04	(3.61)	8.49	(5.79)	21.31
MMSI	1.17	(0.27)	0.00	(0.21)	0.00	0.00	2.53	(2.15)	14.94
SEPSD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HCM	2.35	0.13	0.05	0.24	2.75	(2.44)	4.76	(4.63)	19.49

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