Castor Maritime Correlations

CTRM Stock

USD 2.52 0.03 1.18%

The current 90-days correlation between Castor Maritime and Seanergy Maritime Holdings is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Castor Maritime moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Castor Maritime moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Castor Maritime Correlation With Market

Average diversification

The correlation between Castor Maritime 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 Castor Maritime 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 Castor Maritime. 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.

To learn how to invest in Castor Stock, please use our How to Invest in Castor Maritime guide.

Moving together with Castor Stock

0.78	OP	Oceanpal	Pair Corr
0.76	ASC	Ardmore Shpng	Pair Corr
0.73	KEX	Kirby	Pair Corr
0.76	NMM	Navios Maritime Partners	Pair Corr
0.72	PXS	Pyxis Tankers	Pair Corr
0.62	SFL	SFL Corporation	Pair Corr
0.77	HAFN	Hafnia Limited	Pair Corr
0.62	HTCO	Caravelle International Symbol Change	Pair Corr
0.78	ICON	Icon Energy Corp	Pair Corr
0.83	PSHG	Performance Shipping	Pair Corr
0.75	SMHI	SEACOR Marine Holdings	Pair Corr

Moving against Castor Stock

0.7	SB	Safe Bulkers	Pair Corr
0.65	CMRE-PB	Costamare	Pair Corr
0.63	HSHP	Himalaya Shipping	Pair Corr
0.63	CMRE-PC	Costamare	Pair Corr
0.57	SB-PC	Safe Bulkers	Pair Corr
0.56	DSX-PB	Diana Shipping	Pair Corr
0.53	GSL	Global Ship Lease	Pair Corr
0.5	CMRE-PD	Costamare	Pair Corr
0.45	GSL-PB	Global Ship Lease	Pair Corr
0.44	SB-PD	Safe Bulkers	Pair Corr
0.34	PXSAW	Pyxis Tankers	Pair Corr
0.61	SBLK	Star Bulk Carriers	Pair Corr
0.58	BZ	Kanzhun Ltd ADR	Pair Corr
0.49	CCEC	Capital Clean Energy Symbol Change	Pair Corr
0.48	EH	Ehang Holdings Downward Rally	Pair Corr
0.47	DE	Deere Company	Pair Corr

Related Correlations Analysis

	SHIP	TOPS	USEA	NAT	GLBS	SB	ESEA	PSHG	GNK	GOGL
SHIP		-0.03	0.06	0.12	-0.12	0.38	-0.33	-0.14	0.23	-0.37	SHIP
TOPS	-0.03		-0.15	0.53	0.44	-0.67	0.25	0.65	0.0	0.09	TOPS
USEA	0.06	-0.15		0.14	0.32	-0.19	-0.23	-0.08	0.45	0.27	USEA
NAT	0.12	0.53	0.14		0.47	-0.3	-0.08	0.24	0.57	0.12	NAT
GLBS	-0.12	0.44	0.32	0.47		-0.39	-0.15	0.12	0.35	0.37	GLBS
SB	0.38	-0.67	-0.19	-0.3	-0.39		-0.23	-0.68	0.02	-0.22	SB
ESEA	-0.33	0.25	-0.23	-0.08	-0.15	-0.23		0.48	0.01	0.51	ESEA
PSHG	-0.14	0.65	-0.08	0.24	0.12	-0.68	0.48		0.0	0.27	PSHG
GNK	0.23	0.0	0.45	0.57	0.35	0.02	0.01	0.0		0.44	GNK
GOGL	-0.37	0.09	0.27	0.12	0.37	-0.22	0.51	0.27	0.44		GOGL
	SHIP	TOPS	USEA	NAT	GLBS	SB	ESEA	PSHG	GNK	GOGL

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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

PSHG	+ 0.65	TOPS
GNK	+ 0.57	NAT
NAT	+ 0.53	TOPS
GOGL	+ 0.51	ESEA
PSHG	+ 0.48	ESEA
GLBS	+ 0.47	NAT

High negative correlations

PSHG	- 0.68	SB
SB	- 0.67	TOPS
SB	- 0.39	GLBS
GOGL	- 0.37	SHIP
ESEA	- 0.33	SHIP
SB	- 0.3	NAT

Risk-Adjusted Indicators

There is a big difference between Castor Stock performing well and Castor 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 Castor 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SHIP	1.57	0.04	0.05	4.31	2.16	(1.57)	3.42	(3.92)	9.66
TOPS	1.56	0.03	0.06	(0.18)	1.95	(1.73)	3.17	(3.43)	15.50
USEA	1.87	(0.17)	0.00	0.44	0.00	0.00	3.45	(3.30)	20.89
NAT	1.70	0.10	0.10	(0.39)	1.73	(2.17)	3.77	(2.62)	12.47
GLBS	2.47	0.23	0.08	0.62	2.84	(2.96)	5.30	(4.35)	16.23
SB	1.66	0.09	0.09	(0.26)	1.88	(1.97)	3.30	(3.42)	9.49
ESEA	2.27	(0.08)	0.00	1.03	0.00	0.00	5.44	(3.65)	26.48
PSHG	2.03	(0.15)	0.00	(3.62)	0.00	0.00	4.52	(3.91)	12.23
GNK	1.38	0.00	0.05	(0.07)	1.64	(1.50)	3.13	(2.50)	8.37
GOGL	2.05	(0.13)	0.00	(0.26)	0.00	0.00	4.11	(3.02)	21.39

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