Golden Ocean Correlations
| GOGL Stock | USD 7.68 0.29 3.64% |
The current 90-days correlation between Golden Ocean Group and Genco Shipping Trading is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Golden Ocean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Ocean Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Golden Ocean Correlation With Market
Good diversification
The correlation between Golden Ocean Group and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Ocean Group and DJI in the same portfolio, assuming nothing else is changed.
Golden |
Moving together with Golden Stock
Moving against Golden Stock
| 0.47 | GSL | Global Ship Lease | PairCorr |
| 0.4 | HSHP | Himalaya Shipping | PairCorr |
| 0.54 | CCEC | Capital Clean Energy Symbol Change | PairCorr |
| 0.41 | GSL-PB | Global Ship Lease | PairCorr |
| 0.4 | SBLK | Star Bulk Carriers | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Golden Stock performing well and Golden Ocean 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 Golden Ocean'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GNK | 1.42 | (0.04) | 0.00 | (0.16) | 0.00 | 3.13 | 8.37 | |||
| EGLE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GSL | 1.26 | 0.18 | 0.14 | 0.26 | 1.36 | 2.59 | 10.89 | |||
| DSX | 1.48 | (0.07) | 0.00 | (0.40) | 0.00 | 3.21 | 10.12 | |||
| SBLK | 1.63 | 0.17 | 0.10 | 1.01 | 2.22 | 3.51 | 12.42 | |||
| DAC | 1.22 | 0.08 | 0.09 | 0.14 | 1.33 | 2.34 | 6.71 | |||
| OP | 2.47 | (0.54) | 0.00 | (1.69) | 0.00 | 5.32 | 16.30 | |||
| CMRE | 1.50 | (0.32) | 0.00 | (1.21) | 0.00 | 2.50 | 11.48 | |||
| NMM | 1.53 | (0.08) | 0.00 | (0.23) | 0.00 | 2.95 | 11.57 |
Golden Ocean Corporate Executives
Elected by the shareholders, the Golden Ocean's board of directors comprises two types of representatives: Golden Ocean inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Golden. The board's role is to monitor Golden Ocean's management team and ensure that shareholders' interests are well served. Golden Ocean's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Golden Ocean's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Peder Simonsen | Interim CFO | Profile |