Safe Bulkers Correlations

SB Stock

USD 4.12 0.01 0.24%

The current 90-days correlation between Safe Bulkers and Genco Shipping Trading is 0.68 (i.e., Poor diversification). The correlation of Safe Bulkers 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.

Safe Bulkers Correlation With Market

Weak diversification

The correlation between Safe Bulkers and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Safe Bulkers and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Safe Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Safe Bulkers. 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 information on how to trade Safe Stock refer to our How to Trade Safe Stock guide.

Moving together with Safe Stock

0.81	SB-PC	Safe Bulkers	Pair Corr
0.77	SB-PD	Safe Bulkers	Pair Corr
0.82	EHLD	Euroholdings Symbol Change	Pair Corr
0.89	ESEA	Euroseas	Pair Corr
0.7	ASC	Ardmore Shpng	Pair Corr
0.9	DAC	Danaos	Pair Corr
0.78	DSX	Diana Shipping	Pair Corr
0.81	GNK	Genco Shipping Trading	Pair Corr
0.94	GSL	Global Ship Lease	Pair Corr
0.89	KEX	Kirby	Pair Corr
0.83	NAT	Nordic American Tankers	Pair Corr
0.85	NMM	Navios Maritime Partners Earnings Call This Week	Pair Corr
0.92	SFL	SFL Corporation	Pair Corr
0.81	GASS	StealthGas	Pair Corr
0.69	ZIM	ZIM Integrated Shipping	Pair Corr
0.7	GOGL	Golden Ocean Group	Pair Corr
0.8	HAFN	Hafnia Limited	Pair Corr
0.95	HSHP	Himalaya Shipping Symbol Change	Pair Corr
0.74	CMRE-PC	Costamare	Pair Corr
0.68	CMRE-PD	Costamare	Pair Corr
0.85	DSX-PB	Diana Shipping	Pair Corr
0.67	MATX	Matson Inc	Pair Corr
0.68	GSL-PB	Global Ship Lease	Pair Corr
0.87	PANL	Pangaea Logistic	Pair Corr
0.78	PSHG	Performance Shipping	Pair Corr
0.92	SBLK	Star Bulk Carriers	Pair Corr

Moving against Safe Stock

0.87	HMR	Heidmar Maritime Holdings	Pair Corr
0.78	HTCO	Caravelle International Symbol Change	Pair Corr
0.74	UFG	Uni Fuels Holdings	Pair Corr
0.52	NCT	Intercont Limited	Pair Corr

Related Correlations Analysis

	DAC	GNK	SHIP	NMM	GSL	SBLK	ESEA
DAC		0.82	0.91	0.89	0.95	0.96	0.93	DAC
GNK	0.82		0.7	0.74	0.73	0.84	0.74	GNK
SHIP	0.91	0.7		0.82	0.94	0.91	0.91	SHIP
NMM	0.89	0.74	0.82		0.86	0.82	0.77	NMM
GSL	0.95	0.73	0.94	0.86		0.96	0.95	GSL
SBLK	0.96	0.84	0.91	0.82	0.96		0.96	SBLK
ESEA	0.93	0.74	0.91	0.77	0.95	0.96		ESEA
	DAC	GNK	SHIP	NMM	GSL	SBLK	ESEA

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Risk-Adjusted Indicators

There is a big difference between Safe Stock performing well and Safe Bulkers 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 Safe Bulkers' 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	1.20	0.20	0.08	0.74	1.24	(1.34)	2.81	(2.20)	8.35
GNK	1.45	0.22	0.10	0.55	1.24	(1.68)	3.63	(2.40)	8.04
SHIP	1.96	0.27	0.12	0.41	1.82	(2.27)	4.86	(3.29)	10.47
NMM	1.45	0.28	0.13	1.25	1.22	(1.70)	4.25	(2.25)	8.71
GSL	1.21	0.45	0.24	1.06	1.00	(1.40)	3.67	(2.69)	7.94
SBLK	1.37	0.35	0.17	0.80	1.31	(1.59)	3.28	(2.56)	7.20
ESEA	1.67	0.78	0.36	2.08	1.19	(2.02)	4.67	(2.33)	13.75

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