Seanergy Maritime Correlations

SHIP Stock

USD 8.08 0.05 0.62%

The current 90-days correlation between Seanergy Maritime and TOP Ships is -0.02 (i.e., Good diversification). The correlation of Seanergy Maritime 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.

Seanergy Maritime Correlation With Market

Significant diversification

The correlation between Seanergy Maritime Holdings and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seanergy Maritime Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seanergy Maritime Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Seanergy Stock

0.93	SB	Safe Bulkers	Pair Corr
0.87	EDRY	EuroDry	Pair Corr
0.86	ESEA	Euroseas	Pair Corr
0.89	ASC	Ardmore Shpng	Pair Corr
0.9	DSX	Diana Shipping	Pair Corr
0.88	ECO	Okeanis Eco Tankers	Pair Corr
0.63	GNK	Genco Shipping Trading	Pair Corr
0.81	NMM	Navios Maritime Partners	Pair Corr
0.85	SFL	SFL Corporation	Pair Corr
0.76	GASS	StealthGas	Pair Corr
0.77	GLBS	Globus Maritime	Pair Corr
0.75	GOGL	Golden Ocean Group	Pair Corr
0.84	HAFN	Hafnia Limited	Pair Corr
0.84	HSHP	Himalaya Shipping	Pair Corr
0.66	KNOP	KNOT Offshore Partners	Pair Corr
0.88	PANL	Pangaea Logistic	Pair Corr
0.92	SBLK	Star Bulk Carriers	Pair Corr
0.79	SMHI	SEACOR Marine Holdings	Pair Corr
0.8	BWLP	BW LPG Limited	Pair Corr
0.76	TORO	Toro	Pair Corr

Moving against Seanergy Stock

0.76	HTCO	Caravelle International Symbol Change	Pair Corr
0.74	ULTRF	Ultrapetrol Bahamas	Pair Corr
0.7	SB-PD	Safe Bulkers	Pair Corr
0.59	SB-PC	Safe Bulkers	Pair Corr
0.51	MATX	Matson Inc	Pair Corr
0.36	ICON	Icon Energy Corp	Pair Corr
0.32	KEX	Kirby	Pair Corr
0.82	AZ	A2Z Smart Technologies	Pair Corr
0.67	BE	Bloom Energy Corp	Pair Corr
0.65	AL	Air Lease	Pair Corr
0.63	CR	Crane Company	Pair Corr
0.61	R	Ryder System	Pair Corr
0.55	CW	Curtiss Wright	Pair Corr
0.52	B	Barnes Group	Pair Corr
0.46	BV	BrightView Holdings	Pair Corr

Related Correlations Analysis

	TOPS	ESEA	PXS	CLCO	GLBS	USEA	PSHG	CTRM	TORO	DSX
TOPS		0.6	0.76	0.63	0.71	0.69	0.09	0.51	0.65	0.72	TOPS
ESEA	0.6		0.71	0.59	0.75	0.75	-0.11	0.43	0.57	0.75	ESEA
PXS	0.76	0.71		0.79	0.65	0.95	0.06	0.85	0.9	0.88	PXS
CLCO	0.63	0.59	0.79		0.52	0.77	0.21	0.59	0.72	0.88	CLCO
GLBS	0.71	0.75	0.65	0.52		0.72	-0.03	0.29	0.58	0.63	GLBS
USEA	0.69	0.75	0.95	0.77	0.72		0.1	0.79	0.92	0.87	USEA
PSHG	0.09	-0.11	0.06	0.21	-0.03	0.1		0.24	0.26	0.19	PSHG
CTRM	0.51	0.43	0.85	0.59	0.29	0.79	0.24		0.83	0.68	CTRM
TORO	0.65	0.57	0.9	0.72	0.58	0.92	0.26	0.83		0.81	TORO
DSX	0.72	0.75	0.88	0.88	0.63	0.87	0.19	0.68	0.81		DSX
	TOPS	ESEA	PXS	CLCO	GLBS	USEA	PSHG	CTRM	TORO	DSX

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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

USEA	+ 0.95	PXS
TORO	+ 0.92	USEA
TORO	+ 0.9	PXS
DSX	+ 0.88	PXS
DSX	+ 0.88	CLCO
DSX	+ 0.87	USEA

High negative correlations

PSHG	- 0.11	ESEA
PSHG	- 0.03	GLBS

Risk-Adjusted Indicators

There is a big difference between Seanergy Stock performing well and Seanergy Maritime 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 Seanergy Maritime'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TOPS	1.69	(0.23)	(1.48)	0.00	0.00	5.29	(2.95)	10.00
ESEA	2.16	(0.23)	(1.42)	0.00	0.00	3.85	(4.63)	16.76
PXS	1.36	(0.47)	(1.49)	0.00	0.00	1.86	(3.36)	8.44
CLCO	1.83	(0.28)	(0.81)	0.00	0.00	3.20	(4.06)	22.39
GLBS	2.75	0.01	0.14	2.63	(4.08)	9.55	(4.79)	18.26
USEA	1.43	(0.29)	(14.49)	0.00	0.00	2.53	(3.77)	10.21
PSHG	1.42	(0.12)	0.91	0.00	0.00	2.63	(3.54)	11.80
CTRM	1.65	(0.47)	(0.68)	0.00	0.00	3.18	(3.08)	10.60
TORO	1.91	(0.45)	(4.33)	0.00	0.00	2.96	(4.53)	12.72
DSX	1.92	(0.46)	(5.47)	0.00	0.00	3.14	(3.91)	17.12

Seanergy Maritime Corporate Management

Stelios Psillakis	Technical Director	Profile
Stamatios Tsantanis	Chairman CEO	Profile
Theodora Mitropetrou	General Secretary	Profile
Stavros Gyftakis	Chief Officer	Profile

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