Genco Shipping Correlations

GNK Stock

USD 13.55 0.09 0.66%

The current 90-days correlation between Genco Shipping Trading and Golden Ocean Group is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Genco Shipping moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Genco Shipping Trading moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Genco Shipping Correlation With Market

Modest diversification

The correlation between Genco Shipping Trading and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genco Shipping Trading and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Genco Shipping Trading. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against Genco Stock

0.35

HSHP

Himalaya Shipping

Pair Corr

Related Correlations Analysis

	SBLK	GOGL	GSL	DAC	EGLE	DSX	CMRE	ASC	OP
SBLK		-0.42	0.83	0.63	0.0	-0.25	-0.55	-0.48	-0.77	SBLK
GOGL	-0.42		-0.5	0.04	0.0	0.42	0.12	0.14	0.5	GOGL
GSL	0.83	-0.5		0.68	0.0	-0.25	-0.41	-0.43	-0.7	GSL
DAC	0.63	0.04	0.68		0.0	0.12	-0.32	-0.28	-0.35	DAC
EGLE	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EGLE
DSX	-0.25	0.42	-0.25	0.12	0.0		0.44	0.42	0.55	DSX
CMRE	-0.55	0.12	-0.41	-0.32	0.0	0.44		0.87	0.66	CMRE
ASC	-0.48	0.14	-0.43	-0.28	0.0	0.42	0.87		0.71	ASC
OP	-0.77	0.5	-0.7	-0.35	0.0	0.55	0.66	0.71		OP
	SBLK	GOGL	GSL	DAC	EGLE	DSX	CMRE	ASC	OP

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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

ASC	+ 0.87	CMRE
GSL	+ 0.83	SBLK
OP	+ 0.71	ASC
DAC	+ 0.68	GSL
OP	+ 0.66	CMRE
DAC	+ 0.63	SBLK

High negative correlations

OP	- 0.77	SBLK
OP	- 0.7	GSL
CMRE	- 0.55	SBLK
GSL	- 0.5	GOGL
ASC	- 0.48	SBLK
ASC	- 0.43	GSL

Risk-Adjusted Indicators

There is a big difference between Genco Stock performing well and Genco 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 Genco 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
SBLK	1.64	0.16	0.08	1.63	2.23	(1.81)	3.51	(3.32)	12.42
GOGL	2.04	(0.14)	0.00	0.93	0.00	0.00	4.11	(3.64)	21.36
GSL	1.24	0.21	0.15	0.36	1.27	(1.29)	2.59	(2.35)	10.89
DAC	1.21	0.09	0.08	0.21	1.30	(1.41)	2.34	(2.62)	6.81
EGLE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DSX	1.48	(0.09)	0.00	(0.48)	0.00	0.00	3.21	(3.24)	10.12
CMRE	1.52	(0.37)	0.00	0.93	0.00	0.00	2.27	(3.52)	11.48
ASC	2.03	(0.27)	0.00	0.43	0.00	0.00	4.26	(5.08)	13.83
OP	2.39	(0.45)	0.00	(1.72)	0.00	0.00	5.32	(6.32)	16.30

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