Gulf Island Correlations

GIFI Stock

USD 6.88 0.14 1.99%

The current 90-days correlation between Gulf Island Fabrication and Haynes International is -0.16 (i.e., Good diversification). The correlation of Gulf Island 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.

Gulf Island Correlation With Market

Weak diversification

The correlation between Gulf Island Fabrication and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gulf Island Fabrication and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gulf Stock

0.73	ESAB	ESAB Corp	Pair Corr
0.79	CRS	Carpenter Technology	Pair Corr
0.75	MLI	Mueller Industries	Pair Corr
0.83	RYI	Ryerson Holding Corp	Pair Corr
0.7	HAYN	Haynes International	Pair Corr
0.91	NWPX	Northwest Pipe	Pair Corr
0.89	PRLB	Proto Labs	Pair Corr
0.95	G	Genpact Limited	Pair Corr
0.87	R	Ryder System	Pair Corr
0.89	AL	Air Lease	Pair Corr
0.74	AZ	A2Z Smart Technologies	Pair Corr
0.8	BE	Bloom Energy Corp	Pair Corr
0.85	BR	Broadridge Financial	Pair Corr
0.89	CR	Crane Company	Pair Corr
0.67	CW	Curtiss Wright	Pair Corr

Moving against Gulf Stock

0.82	MEC	Mayville Engineering	Pair Corr
0.76	SGBX	SG Blocks	Pair Corr
0.38	ATI	Allegheny Technologies	Pair Corr
0.72	CP	Canadian Pacific Railway	Pair Corr
0.53	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.68	HY	Hyster Yale Materials	Pair Corr
0.66	GP	GreenPower Motor	Pair Corr
0.64	MG	Mistras Group	Pair Corr
0.58	OP	Oceanpal	Pair Corr

Related Correlations Analysis

	HAYN	IIIN	MEC	ESAB	NWPX	CRS	MLI	RYI
HAYN		-0.25	-0.62	0.73	0.76	0.55	0.71	0.76	HAYN
IIIN	-0.25		-0.25	-0.43	-0.15	-0.29	-0.39	-0.35	IIIN
MEC	-0.62	-0.25		-0.43	-0.66	-0.5	-0.53	-0.55	MEC
ESAB	0.73	-0.43	-0.43		0.89	0.83	0.92	0.94	ESAB
NWPX	0.76	-0.15	-0.66	0.89		0.89	0.86	0.93	NWPX
CRS	0.55	-0.29	-0.5	0.83	0.89		0.77	0.91	CRS
MLI	0.71	-0.39	-0.53	0.92	0.86	0.77		0.91	MLI
RYI	0.76	-0.35	-0.55	0.94	0.93	0.91	0.91		RYI
	HAYN	IIIN	MEC	ESAB	NWPX	CRS	MLI	RYI

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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

RYI	+ 0.94	ESAB
RYI	+ 0.93	NWPX
MLI	+ 0.92	ESAB
RYI	+ 0.91	CRS
RYI	+ 0.91	MLI
NWPX	+ 0.89	ESAB

High negative correlations

NWPX	- 0.66	MEC
MEC	- 0.62	HAYN
RYI	- 0.55	MEC
MLI	- 0.53	MEC
CRS	- 0.5	MEC
ESAB	- 0.43	MEC

Risk-Adjusted Indicators

There is a big difference between Gulf Stock performing well and Gulf Island 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 Gulf Island'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
HAYN	0.22	0.00	(0.28)	0.00	0.24	(0.24)	0.64	(0.43)	1.98
IIIN	1.58	(0.33)	0.00	(0.09)	0.00	0.00	3.00	(4.52)	11.16
MEC	2.03	(0.11)	0.00	0.31	0.00	0.00	4.55	(2.95)	25.65
ESAB	1.53	0.17	0.14	0.22	1.41	(1.81)	3.42	(2.26)	15.01
NWPX	1.64	0.19	0.17	0.24	1.09	(2.07)	3.47	(1.99)	12.92
CRS	1.96	0.20	0.14	0.20	2.13	(2.09)	5.44	(2.91)	13.31
MLI	1.74	0.04	0.07	0.14	1.88	(1.98)	2.93	(2.62)	20.61
RYI	1.97	0.08	0.13	0.14	1.93	(2.35)	4.48	(3.34)	21.43

Gulf Island Corporate Executives

Elected by the shareholders, the Gulf Island's board of directors comprises two types of representatives: Gulf Island inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Gulf. The board's role is to monitor Gulf Island's management team and ensure that shareholders' interests are well served. Gulf Island's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Gulf Island's outside directors are responsible for providing unbiased perspectives on the board's policies.

Westley CPA

CFO, VP

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