Costamare Correlations

CMRE Stock

USD 13.20 0.11 0.83%

The current 90-days correlation between Costamare and Global Ship Lease is 0.75 (i.e., Poor 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

Average diversification

The correlation between Costamare and DJI is 0.19 (i.e., Average 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Costamare. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Costamare Stock refer to our How to Trade Costamare Stock guide.

Moving together with Costamare Stock

0.72	ESEA	Euroseas	Pair Corr
0.83	DAC	Danaos	Pair Corr
0.83	GNK	Genco Shipping Trading	Pair Corr
0.68	NMM	Navios Maritime Partners	Pair Corr
0.85	GOGL	Golden Ocean Group	Pair Corr
0.75	HSHP	Himalaya Shipping	Pair Corr
0.71	PANL	Pangaea Logistic	Pair Corr
0.71	SBLK	Star Bulk Carriers	Pair Corr

Moving against Costamare Stock

0.51	ULTRF	Ultrapetrol Bahamas	Pair Corr
0.44	ICON	Icon Energy Corp	Pair Corr
0.32	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	GSL	NMM	GNK	EGLE	DAC	ASC	ESEA	HSHP	KEX	EDRY
GSL		0.84	0.63	-0.36	0.58	0.69	0.83	0.78	-0.14	0.68	GSL
NMM	0.84		0.54	-0.63	0.6	0.65	0.77	0.75	-0.05	0.68	NMM
GNK	0.63	0.54		-0.46	0.56	0.39	0.75	0.89	0.31	0.3	GNK
EGLE	-0.36	-0.63	-0.46		-0.27	-0.55	-0.46	-0.61	0.0	-0.52	EGLE
DAC	0.58	0.6	0.56	-0.27		0.02	0.43	0.49	0.46	-0.01	DAC
ASC	0.69	0.65	0.39	-0.55	0.02		0.71	0.67	-0.54	0.97	ASC
ESEA	0.83	0.77	0.75	-0.46	0.43	0.71		0.85	-0.1	0.67	ESEA
HSHP	0.78	0.75	0.89	-0.61	0.49	0.67	0.85		0.05	0.62	HSHP
KEX	-0.14	-0.05	0.31	0.0	0.46	-0.54	-0.1	0.05		-0.55	KEX
EDRY	0.68	0.68	0.3	-0.52	-0.01	0.97	0.67	0.62	-0.55		EDRY
	GSL	NMM	GNK	EGLE	DAC	ASC	ESEA	HSHP	KEX	EDRY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

EDRY	+ 0.97	ASC
HSHP	+ 0.89	GNK
HSHP	+ 0.85	ESEA
NMM	+ 0.84	GSL
ESEA	+ 0.83	GSL
HSHP	+ 0.78	GSL

High negative correlations

EGLE	- 0.63	NMM
HSHP	- 0.61	EGLE
EDRY	- 0.55	KEX
ASC	- 0.55	EGLE
KEX	- 0.54	ASC
EDRY	- 0.52	EGLE

Risk-Adjusted Indicators

There is a big difference between Costamare 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GSL	1.24	(0.26)	0.00	(0.47)	0.00	0.00	2.46	(2.87)	8.24
NMM	1.72	(0.13)	0.00	(0.21)	0.00	0.00	4.85	(3.20)	12.91
GNK	1.44	(0.19)	0.00	(0.11)	0.00	0.00	2.54	(3.32)	9.22
EGLE	1.56	(0.09)	0.00	3.51	0.00	0.00	3.14	(3.92)	10.32
DAC	1.15	(0.05)	0.00	(0.23)	0.00	0.00	2.46	(3.14)	8.98
ASC	1.51	(0.77)	0.00	(2.20)	0.00	0.00	2.45	(3.85)	10.53
ESEA	2.16	(0.23)	0.00	(1.42)	0.00	0.00	3.85	(4.63)	16.76
HSHP	1.86	(0.29)	0.00	(0.45)	0.00	0.00	4.44	(3.36)	12.97
KEX	1.31	(0.09)	(0.01)	0.07	1.60	(1.43)	2.56	(2.52)	11.14
EDRY	1.39	(0.60)	0.00	(4.25)	0.00	0.00	1.96	(3.86)	8.90

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC