Performance Shipping Correlations

PSHG Stock

USD 1.78 0.02 1.11%

The current 90-days correlation between Performance Shipping and EuroDry is -0.2 (i.e., Good diversification). The correlation of Performance Shipping 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.

Performance Shipping Correlation With Market

Good diversification

The correlation between Performance Shipping and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Performance Shipping and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Performance Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Performance Shipping. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more detail on how to invest in Performance Stock please use our How to Invest in Performance Shipping guide.

Moving together with Performance Stock

0.67	OP	Oceanpal	Pair Corr
0.68	SB	Safe Bulkers Earnings Call This Week	Pair Corr
0.67	EHLD	Euroholdings Symbol Change	Pair Corr
0.73	ESEA	Euroseas	Pair Corr
0.79	DAC	Danaos	Pair Corr
0.81	GSL	Global Ship Lease	Pair Corr
0.8	KEX	Kirby	Pair Corr
0.8	NAT	Nordic American Tankers	Pair Corr
0.67	NMM	Navios Maritime Partners Earnings Call This Week	Pair Corr
0.79	SFL	SFL Corporation	Pair Corr
0.91	GASS	StealthGas	Pair Corr
0.85	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.73	CMRE-PC	Costamare	Pair Corr
0.76	DSX-PB	Diana Shipping	Pair Corr
0.66	GSL-PB	Global Ship Lease	Pair Corr
0.77	PANL	Pangaea Logistic	Pair Corr
0.77	SBLK	Star Bulk Carriers	Pair Corr

Moving against Performance Stock

0.89	HMR	Heidmar Maritime Holdings	Pair Corr
0.72	UFG	Uni Fuels Holdings	Pair Corr
0.58	HTCO	Caravelle International Symbol Change	Pair Corr
0.53	NCT	Intercont Limited	Pair Corr
0.39	CISS	C3is Inc	Pair Corr
0.31	CMDB	Costamare Bulkers	Pair Corr

Related Correlations Analysis

	DSX	EDRY	GLBS	KNOP	KPRX	OP	QNRX	TOPS	USEA
DSX		0.45	0.43	0.29	-0.08	0.64	0.51	0.27	0.52	DSX
EDRY	0.45		0.02	0.63	-0.25	0.55	0.25	-0.1	0.6	EDRY
GLBS	0.43	0.02		0.14	-0.19	0.45	0.19	0.44	0.51	GLBS
KNOP	0.29	0.63	0.14		-0.1	0.31	0.19	0.06	0.65	KNOP
KPRX	-0.08	-0.25	-0.19	-0.1		-0.39	-0.4	0.1	-0.41	KPRX
OP	0.64	0.55	0.45	0.31	-0.39		0.48	-0.2	0.64	OP
QNRX	0.51	0.25	0.19	0.19	-0.4	0.48		0.09	0.66	QNRX
TOPS	0.27	-0.1	0.44	0.06	0.1	-0.2	0.09		0.15	TOPS
USEA	0.52	0.6	0.51	0.65	-0.41	0.64	0.66	0.15		USEA
	DSX	EDRY	GLBS	KNOP	KPRX	OP	QNRX	TOPS	USEA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

USEA	+ 0.66	QNRX
USEA	+ 0.65	KNOP
OP	+ 0.64	DSX
USEA	+ 0.64	OP
KNOP	+ 0.63	EDRY
USEA	+ 0.6	EDRY

High negative correlations

USEA	- 0.41	KPRX
QNRX	- 0.4	KPRX
OP	- 0.39	KPRX
KPRX	- 0.25	EDRY
TOPS	- 0.2	OP
KPRX	- 0.19	GLBS

Risk-Adjusted Indicators

There is a big difference between Performance Stock performing well and Performance Shipping 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 Performance Shipping'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
DSX	2.25	0.16	0.03	0.57	2.30	(3.07)	5.11	(4.70)	15.45
EDRY	2.50	0.13	0.03	0.28	2.80	(3.09)	6.64	(5.48)	15.67
GLBS	3.07	0.06	0.00	0.23	3.16	(4.55)	10.58	(6.50)	27.68
KNOP	1.47	0.24	0.06	(6.58)	1.52	(1.78)	4.08	(2.43)	9.62
KPRX	2.96	0.37	0.04	(0.60)	3.71	(4.20)	5.23	(4.36)	55.05
OP	9.75	3.14	0.24	(0.86)	8.23	(14.94)	38.24	(15.86)	158.16
QNRX	3.14	0.70	0.18	3.90	2.74	(4.12)	7.39	(4.97)	26.24
TOPS	3.72	0.17	0.03	0.24	6.97	(3.93)	6.57	(6.17)	77.92
USEA	2.59	0.57	0.14	1.53	2.77	(3.35)	5.19	(5.13)	38.04

Performance Shipping Corporate Management

Eleni Leontari	Financial Director	Profile
Andreas Michalopoulos	CEO, MD	Profile
Captain Gavalas	Operations Director	Profile
Andreas Mavrommatis	Chief Accountant	Profile
Argyris Chachalis	Technical Director	Profile
Aikaterini Oikonomea	Legal Counsel	Profile
Anthony Argyropoulos	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC