Himalaya Shipping Correlations

HSHP Stock

6.21 0.16 2.51%

The current 90-days correlation between Himalaya Shipping and Citizens is 0.15 (i.e., Average diversification). The correlation of Himalaya 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Himalaya Shipping Correlation With Market

Average diversification

The correlation between Himalaya Shipping and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Himalaya Shipping 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 Himalaya 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.

To learn how to invest in Himalaya Stock, please use our How to Invest in Himalaya Shipping guide.

Moving together with Himalaya Stock

0.89	SB	Safe Bulkers	Pair Corr
0.62	EDRY	EuroDry	Pair Corr
0.85	ESEA	Euroseas	Pair Corr
0.67	ASC	Ardmore Shpng	Pair Corr
0.75	DSX	Diana Shipping	Pair Corr
0.74	ECO	Okeanis Eco Tankers	Pair Corr
0.89	GNK	Genco Shipping Trading	Pair Corr
0.75	NMM	Navios Maritime Partners	Pair Corr
0.76	SFL	SFL Corporation	Pair Corr
0.82	GASS	StealthGas	Pair Corr
0.71	GLBS	Globus Maritime	Pair Corr
0.95	GOGL	Golden Ocean Group	Pair Corr
0.7	HAFN	Hafnia Limited	Pair Corr
0.81	PANL	Pangaea Logistic	Pair Corr
0.94	SBLK	Star Bulk Carriers	Pair Corr
0.84	SHIP	Seanergy Maritime	Pair Corr
0.78	BWLP	BW LPG Limited	Pair Corr

Moving against Himalaya Stock

0.87	ULTRF	Ultrapetrol Bahamas	Pair Corr
0.63	HTCO	Caravelle International Symbol Change	Pair Corr
0.5	SB-PC	Safe Bulkers	Pair Corr
0.5	SB-PD	Safe Bulkers	Pair Corr
0.36	ICON	Icon Energy Corp	Pair Corr
0.65	AZ	A2Z Smart Technologies	Pair Corr
0.41	B	Barnes Group	Pair Corr
0.37	BV	BrightView Holdings	Pair Corr
0.36	CW	Curtiss Wright	Pair Corr
0.35	BE	Bloom Energy Corp	Pair Corr
0.34	J	Jacobs Solutions	Pair Corr
0.34	AL	Air Lease	Pair Corr

Related Correlations Analysis

	CIA	PLMR	MESA	LUV	TRUP	NOKFF	AHL-PD	JBLU
CIA		0.15	-0.73	0.67	0.75	0.0	0.19	0.64	CIA
PLMR	0.15		-0.21	0.62	0.28	0.0	0.15	0.0	PLMR
MESA	-0.73	-0.21		-0.66	-0.78	0.0	0.11	-0.35	MESA
LUV	0.67	0.62	-0.66		0.61	0.0	0.21	0.35	LUV
TRUP	0.75	0.28	-0.78	0.61		0.0	-0.07	0.32	TRUP
NOKFF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NOKFF
AHL-PD	0.19	0.15	0.11	0.21	-0.07	0.0		0.33	AHL-PD
JBLU	0.64	0.0	-0.35	0.35	0.32	0.0	0.33		JBLU
	CIA	PLMR	MESA	LUV	TRUP	NOKFF	AHL-PD	JBLU

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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

TRUP	+ 0.75	CIA
LUV	+ 0.67	CIA
JBLU	+ 0.64	CIA
LUV	+ 0.62	PLMR
TRUP	+ 0.61	LUV
JBLU	+ 0.35	LUV

High negative correlations

TRUP	- 0.78	MESA
MESA	- 0.73	CIA
LUV	- 0.66	MESA
JBLU	- 0.35	MESA
MESA	- 0.21	PLMR
AHL-PD	- 0.07	TRUP

Risk-Adjusted Indicators

There is a big difference between Himalaya Stock performing well and Himalaya 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 Himalaya 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
CIA	3.52	0.68	0.10	(11.22)	4.64	(3.88)	8.63	(8.12)	34.37
PLMR	1.53	(0.01)	0.03	0.12	1.78	(1.86)	4.52	(3.01)	12.94
MESA	2.82	(0.20)	0.00	(0.38)	0.00	0.00	6.19	(6.38)	28.65
LUV	1.31	0.12	0.03	0.31	1.65	(1.27)	2.96	(2.65)	10.99
TRUP	2.28	0.14	0.04	0.29	2.69	(2.52)	5.13	(3.89)	14.74
NOKFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AHL-PD	0.98	0.01	(0.06)	0.15	1.07	(1.11)	2.51	(1.90)	4.81
JBLU	3.03	0.17	0.06	0.22	4.15	(3.24)	7.53	(6.73)	31.32

Himalaya Shipping Corporate Management

Christian Dahll	Contracted Officer	Profile
Olav Eikrem	Chief Manager	Profile
LarsChristian Svensen	Contracted Officer	Profile
Alfi Lao	Chief Controller	Profile
Kseniia Sheiko	Financial Manager	Profile

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