Diana Shipping Correlations

DSX Stock

USD 1.78 0.02 1.11%

The correlation of Diana Shipping 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.

Diana Shipping Correlation With Market

Average diversification

The correlation between Diana Shipping and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diana Shipping and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Diana Shipping. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Diana Stock please use our How to Invest in Diana Shipping guide.

Moving together with Diana Stock

0.68

NMM

Navios Maritime Partners

Pair Corr

Moving against Diana Stock

0.54	CMRE-PC	Costamare	Pair Corr
0.49	DSX-PB	Diana Shipping	Pair Corr
0.47	SB-PC	Safe Bulkers	Pair Corr
0.46	SB-PD	Safe Bulkers	Pair Corr
0.43	GSL-PB	Global Ship Lease	Pair Corr
0.38	CMRE-PD	Costamare	Pair Corr
0.5	DE	Deere Company	Pair Corr
0.46	CCEC	Capital Clean Energy Symbol Change	Pair Corr
0.46	BZ	Kanzhun Ltd ADR	Pair Corr

Related Correlations Analysis

	EGLE	SBLK	GOGL	GSL	GNK	DAC	GLBS	TOPS	NM	NPNYY
EGLE		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	EGLE
SBLK	0.0		-0.35	0.79	0.24	0.59	-0.06	-0.42	0.0	0.72	SBLK
GOGL	0.0	-0.35		-0.44	0.43	0.13	0.35	0.11	0.0	-0.18	GOGL
GSL	0.0	0.79	-0.44		-0.02	0.66	-0.1	-0.21	0.0	0.79	GSL
GNK	0.0	0.24	0.43	-0.02		0.28	0.36	0.14	0.0	-0.11	GNK
DAC	0.0	0.59	0.13	0.66	0.28		0.14	-0.26	0.0	0.6	DAC
GLBS	0.0	-0.06	0.35	-0.1	0.36	0.14		0.53	0.0	-0.2	GLBS
TOPS	0.0	-0.42	0.11	-0.21	0.14	-0.26	0.53		0.0	-0.51	TOPS
NM	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NM
NPNYY	0.0	0.72	-0.18	0.79	-0.11	0.6	-0.2	-0.51	0.0		NPNYY
	EGLE	SBLK	GOGL	GSL	GNK	DAC	GLBS	TOPS	NM	NPNYY

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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

GSL	+ 0.79	SBLK
NPNYY	+ 0.79	GSL
NPNYY	+ 0.72	SBLK
DAC	+ 0.66	GSL
NPNYY	+ 0.6	DAC
DAC	+ 0.59	SBLK

High negative correlations

NPNYY	- 0.51	TOPS
GSL	- 0.44	GOGL
TOPS	- 0.42	SBLK
GOGL	- 0.35	SBLK
TOPS	- 0.26	DAC
TOPS	- 0.21	GSL

Risk-Adjusted Indicators

There is a big difference between Diana Stock performing well and Diana Shipping 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 Diana Shipping'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
EGLE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBLK	1.61	0.17	0.10	0.89	2.14	(1.82)	3.51	(3.30)	12.42
GOGL	1.96	(0.24)	0.00	1.33	0.00	0.00	4.11	(3.02)	21.39
GSL	1.22	0.20	0.16	0.29	1.29	(1.28)	2.59	(2.29)	10.89
GNK	1.39	(0.06)	0.00	(0.19)	0.00	0.00	3.13	(2.66)	8.37
DAC	1.16	0.10	0.12	0.19	1.25	(1.32)	2.34	(2.53)	6.71
GLBS	2.53	0.05	0.00	(0.02)	0.00	0.00	5.30	(5.93)	16.23
TOPS	1.74	(0.01)	0.00	(0.09)	0.00	0.00	4.55	(3.73)	15.50
NM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NPNYY	1.14	0.17	0.12	0.31	1.64	(1.17)	2.36	(2.42)	8.45

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