Euroseas Correlations

ESEA Stock

USD 31.39 1.55 5.19%

The correlation of Euroseas 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.

Euroseas Correlation With Market

Average diversification

The correlation between Euroseas 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 Euroseas 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 Euroseas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

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

Moving together with Euroseas Stock

0.65	DSX	Diana Shipping	Pair Corr
0.63	NMM	Navios Maritime Partners	Pair Corr
0.61	ZIM	ZIM Integrated Shipping	Pair Corr
0.63	ICON	Icon Energy Corp	Pair Corr

Moving against Euroseas Stock

0.45	SB-PC	Safe Bulkers	Pair Corr
0.41	SB-PD	Safe Bulkers	Pair Corr
0.38	ECO	Okeanis Eco Tankers	Pair Corr
0.68	DSX-PB	Diana Shipping	Pair Corr
0.67	CMRE-PC	Costamare	Pair Corr
0.64	CMRE-PD	Costamare	Pair Corr
0.35	CCEC	Capital Clean Energy Symbol Change	Pair Corr
0.34	GSL-PB	Global Ship Lease	Pair Corr
0.54	CP	Canadian Pacific Railway	Pair Corr
0.4	BR	Broadridge Financial	Pair Corr
0.36	AP	Ampco Pittsburgh Earnings Call This Week	Pair Corr
0.34	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	CPLP	PXS	PCFBF	DMCOF	DAC	GSL	NMM	CMRE	HSHP	KEX
CPLP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CPLP
PXS	0.0		-0.12	0.79	-0.12	-0.52	0.64	0.55	-0.56	0.51	PXS
PCFBF	0.0	-0.12		0.12	-0.22	-0.17	0.35	0.59	0.02	0.5	PCFBF
DMCOF	0.0	0.79	0.12		-0.11	-0.37	0.71	0.69	-0.36	0.47	DMCOF
DAC	0.0	-0.12	-0.22	-0.11		0.63	0.3	-0.45	0.45	-0.16	DAC
GSL	0.0	-0.52	-0.17	-0.37	0.63		-0.21	-0.6	0.82	-0.61	GSL
NMM	0.0	0.64	0.35	0.71	0.3	-0.21		0.59	-0.26	0.61	NMM
CMRE	0.0	0.55	0.59	0.69	-0.45	-0.6	0.59		-0.53	0.67	CMRE
HSHP	0.0	-0.56	0.02	-0.36	0.45	0.82	-0.26	-0.53		-0.44	HSHP
KEX	0.0	0.51	0.5	0.47	-0.16	-0.61	0.61	0.67	-0.44		KEX
	CPLP	PXS	PCFBF	DMCOF	DAC	GSL	NMM	CMRE	HSHP	KEX

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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

HSHP	+ 0.82	GSL
DMCOF	+ 0.79	PXS
NMM	+ 0.71	DMCOF
CMRE	+ 0.69	DMCOF
KEX	+ 0.67	CMRE
NMM	+ 0.64	PXS

High negative correlations

KEX	- 0.61	GSL
CMRE	- 0.6	GSL
HSHP	- 0.56	PXS
HSHP	- 0.53	CMRE
GSL	- 0.52	PXS
CMRE	- 0.45	DAC

Risk-Adjusted Indicators

There is a big difference between Euroseas Stock performing well and Euroseas 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 Euroseas' 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
CPLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PXS	1.45	(0.12)	0.00	(1.79)	0.00	0.00	2.96	(2.84)	9.96
PCFBF	2.49	(0.47)	0.00	1.81	0.00	0.00	12.00	(10.00)	36.13
DMCOF	1.27	(0.22)	0.00	1.14	0.00	0.00	3.16	(4.26)	14.96
DAC	1.18	0.02	0.00	(0.05)	0.00	0.00	2.34	(2.62)	6.71
GSL	1.23	0.15	0.12	0.17	1.39	(1.27)	2.59	(2.40)	10.89
NMM	1.57	(0.17)	0.00	(0.40)	0.00	0.00	2.95	(3.55)	11.57
CMRE	1.45	(0.33)	0.00	(1.47)	0.00	0.00	2.50	(3.25)	11.48
HSHP	2.38	0.18	0.07	0.19	2.74	(2.59)	4.80	(4.14)	11.70
KEX	1.34	(0.14)	0.00	(0.22)	0.00	0.00	2.41	(3.12)	9.03

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