Costamare Correlations

Preferred Stocks . USA . 
Preferred Stock . Costamare
CMRE-PD Preferred Stock  USD 26.43  0.09  0.34%   
The current 90-days correlation between Costamare and Costamare is -0.02 (i.e., Good diversification). The correlation of Costamare 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.

Costamare Correlation With Market

Weak diversification

The correlation between Costamare 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 Costamare and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Costamare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Costamare when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Costamare - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Costamare to buy it.

Moving together with Costamare Preferred Stock

  0.76SB-PC Safe BulkersPairCorr
  0.64ECO Okeanis Eco TankersPairCorr
  0.61GLBS Globus MaritimePairCorr
  0.87CMRE-PC CostamarePairCorr
  0.81DSX-PB Diana ShippingPairCorr
  0.65BWLP BW LPG LimitedPairCorr

Moving against Costamare Preferred Stock

  0.49ESEA EuroseasPairCorr
  0.47OP OceanpalPairCorr
  0.39ASC Ardmore ShpngPairCorr
  0.38DSX Diana ShippingPairCorr
  0.35EDRY EuroDryPairCorr
  0.34NMM Navios Maritime PartnersPairCorr
  0.84ICON Icon Energy CorpPairCorr
  0.52PSHG Performance ShippingPairCorr
  0.34HAFN Hafnia LimitedPairCorr
  0.73CMRE CostamarePairCorr
  0.71CISS C3is IncPairCorr
  0.69BW Babcock Wilcox EnterPairCorr
  0.66CTRM Castor MaritimePairCorr
  0.55BV BrightView HoldingsPairCorr
  0.38AL Air LeasePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Costamare Preferred Stock performing well and Costamare 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 Costamare'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Costamare without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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