Marine Petroleum Correlations

Stocks . USA . 
Stock . Marine Petroleum Trust
MARPS Stock  USD 3.79  0.01  0.26%   
The current 90-days correlation between Marine Petroleum Trust and Imperial Petroleum Preferred is -0.12 (i.e., Good diversification). The correlation of Marine Petroleum 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.

Marine Petroleum Correlation With Market

Significant diversification

The correlation between Marine Petroleum Trust and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Marine Petroleum Trust and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Marine Petroleum Trust. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Marine Stock

  0.67TK TeekayPairCorr
  0.68DHT DHT HoldingsPairCorr
  0.64FRO FrontlinePairCorr
  0.64LPG Dorian LPGPairCorr
  0.64NAT Nordic American TankersPairCorr
  0.63TEN Tsakos Energy Navigation Symbol ChangePairCorr
  0.66TNK Teekay TankersPairCorr

Moving against Marine Stock

  0.55IMPPP Imperial PetroleumPairCorr
  0.46EE Excelerate EnergyPairCorr
  0.46DTM DT MidstreamPairCorr
  0.45ET Energy Transfer LPPairCorr
  0.44KMI Kinder Morgan Fiscal Year End 15th of January 2025 PairCorr
  0.42LNG Cheniere EnergyPairCorr
  0.4OKE ONEOK IncPairCorr
  0.38DLNG Dynagas LNG PartnersPairCorr
  0.38CQP Cheniere Energy PartnersPairCorr
  0.37EPD Enterprise ProductsPairCorr
  0.36ENB EnbridgePairCorr
  0.32GLP Global Partners LPPairCorr
  0.48SEAL-PB Seapeak LLCPairCorr
  0.47KNTK Kinetik HoldingsPairCorr
  0.41GLOP-PB GasLog Partners LPPairCorr
  0.41ET-PI Energy Transfer LPPairCorr
  0.39WMB Williams CompaniesPairCorr
  0.39MPLX MPLX LPPairCorr
  0.37GLOP-PC GasLog Partners LPPairCorr

Related Correlations Analysis

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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   
HESM
+ 0.85
DLNG
IMPPP
+ 0.74
DLNG
DLNG
+ 0.72
GLOP-PB
STNG
+ 0.63
AVACF
HESM
+ 0.57
GLOP-PB
HESM
+ 0.54
IMPPP
  
High negative correlations   
STNG
- 0.79
IMPPP
STNG
- 0.78
DLNG
STNG
- 0.62
GLOP-PB
AVACF
- 0.57
GLOP-PB
STNG
- 0.53
HESM
AVACF
- 0.45
IMPPP

Risk-Adjusted Indicators

There is a big difference between Marine Stock performing well and Marine Petroleum 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 Marine Petroleum'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.

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