Marine Petroleum Correlations

MARPS Stock

USD 3.92 0.01 0.25%

The correlation of Marine Petroleum 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.

Marine Petroleum Correlation With Market

Significant diversification

The correlation between Marine Petroleum Trust and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Marine Petroleum Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Marine Petroleum Trust. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Marine Stock

0.71	TK	Teekay	Pair Corr
0.66	FLNG	FLEX LNG	Pair Corr
0.63	DTM	DT Midstream	Pair Corr
0.67	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.76	LNG	Cheniere Energy	Pair Corr
0.68	NAT	Nordic American Tankers	Pair Corr
0.61	PXS	Pyxis Tankers	Pair Corr
0.68	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.72	TNK	Teekay Tankers	Pair Corr

Moving against Marine Stock

0.46	BPT	BP Prudhoe Bay	Pair Corr
0.33	PXSAW	Pyxis Tankers	Pair Corr
0.61	MMLP	Martin Midstream Partners	Pair Corr

Related Correlations Analysis

	GLOP-PA	GLOP-PC	BROG	DLNG-PB	GLOP	DLNG-PA	MMLP
GLOP-PA		0.7	-0.31	0.41	0.0	0.35	0.26	GLOP-PA
GLOP-PC	0.7		-0.4	0.54	0.0	0.5	-0.07	GLOP-PC
BROG	-0.31	-0.4		-0.28	0.0	-0.22	0.26	BROG
DLNG-PB	0.41	0.54	-0.28		0.0	0.72	-0.24	DLNG-PB
GLOP	0.0	0.0	0.0	0.0		0.0	0.0	GLOP
DLNG-PA	0.35	0.5	-0.22	0.72	0.0		-0.19	DLNG-PA
MMLP	0.26	-0.07	0.26	-0.24	0.0	-0.19		MMLP
	GLOP-PA	GLOP-PC	BROG	DLNG-PB	GLOP	DLNG-PA	MMLP

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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

DLNG-PA	+ 0.72	DLNG-PB
GLOP-PC	+ 0.7	GLOP-PA
DLNG-PB	+ 0.54	GLOP-PC
DLNG-PA	+ 0.5	GLOP-PC
DLNG-PB	+ 0.41	GLOP-PA
DLNG-PA	+ 0.35	GLOP-PA

High negative correlations

BROG	- 0.4	GLOP-PC
BROG	- 0.31	GLOP-PA
DLNG-PB	- 0.28	BROG
MMLP	- 0.24	DLNG-PB
DLNG-PA	- 0.22	BROG
MMLP	- 0.19	DLNG-PA

Risk-Adjusted Indicators

There is a big difference between Marine Stock performing well and Marine Petroleum 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 Marine Petroleum'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
GLOP-PA	0.50	0.03	0.10	0.94	0.85	(0.53)	1.42	(1.30)	4.47
GLOP-PC	0.38	0.05	0.20	(17.98)	0.43	(0.42)	0.77	(1.01)	2.69
BROG	4.86	(0.36)	0.00	(0.89)	0.00	0.00	9.01	(12.59)	36.49
DLNG-PB	0.29	0.02	0.22	0.73	0.34	(0.31)	0.64	(0.70)	2.10
GLOP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DLNG-PA	0.28	0.03	0.22	1.00	0.35	(0.30)	0.72	(0.71)	1.95
MMLP	1.54	(0.05)	0.00	(0.13)	0.00	0.00	2.79	(3.48)	11.47

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