Nordic American Correlations

NAT Stock

USD 2.58 0.02 0.78%

The current 90-days correlation between Nordic American Tankers and Genco Shipping Trading is 0.44 (i.e., Very weak diversification). The correlation of Nordic American 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.

Nordic American Correlation With Market

Good diversification

The correlation between Nordic American Tankers and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordic American Tankers 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 Nordic American Tankers. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nordic Stock

0.85	TK	Teekay	Pair Corr
0.83	FLNG	FLEX LNG	Pair Corr
0.67	DHT	DHT Holdings	Pair Corr
0.81	FRO	Frontline	Pair Corr
0.62	LNG	Cheniere Energy	Pair Corr
0.73	LPG	Dorian LPG	Pair Corr
0.9	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.91	TNK	Teekay Tankers	Pair Corr
0.87	INSW	International Seaways	Pair Corr

Moving against Nordic Stock

0.38	BPT	BP Prudhoe Bay	Pair Corr
0.51	MMLP	Martin Midstream Partners	Pair Corr

Related Correlations Analysis

	GNK	GOGL	EGLE	SBLK	OP	NM	DAC	CMRE	GSL	ESEA
GNK		0.49	0.0	0.18	0.22	0.0	0.32	-0.05	-0.04	0.03	GNK
GOGL	0.49		0.0	-0.42	0.5	0.0	0.04	0.11	-0.5	0.49	GOGL
EGLE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	EGLE
SBLK	0.18	-0.42	0.0		-0.77	0.0	0.63	-0.66	0.83	-0.42	SBLK
OP	0.22	0.5	0.0	-0.77		0.0	-0.35	0.76	-0.7	0.54	OP
NM	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NM
DAC	0.32	0.04	0.0	0.63	-0.35	0.0		-0.5	0.68	0.09	DAC
CMRE	-0.05	0.11	0.0	-0.66	0.76	0.0	-0.5		-0.58	0.44	CMRE
GSL	-0.04	-0.5	0.0	0.83	-0.7	0.0	0.68	-0.58		-0.2	GSL
ESEA	0.03	0.49	0.0	-0.42	0.54	0.0	0.09	0.44	-0.2		ESEA
	GNK	GOGL	EGLE	SBLK	OP	NM	DAC	CMRE	GSL	ESEA

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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	+ 0.83	SBLK
CMRE	+ 0.76	OP
GSL	+ 0.68	DAC
DAC	+ 0.63	SBLK
ESEA	+ 0.54	OP
OP	+ 0.5	GOGL

High negative correlations

OP	- 0.77	SBLK
GSL	- 0.7	OP
CMRE	- 0.66	SBLK
GSL	- 0.58	CMRE
CMRE	- 0.5	DAC
GSL	- 0.5	GOGL

Risk-Adjusted Indicators

There is a big difference between Nordic Stock performing well and Nordic American 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 Nordic American'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	(0.06)	0.00	(0.18)	0.00	0.00	3.13	(2.66)	8.37
GOGL	2.04	(0.14)	0.00	0.93	0.00	0.00	4.11	(3.64)	21.36
EGLE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBLK	1.64	0.16	0.08	1.63	2.23	(1.81)	3.51	(3.32)	12.42
OP	2.39	(0.45)	0.00	(1.72)	0.00	0.00	5.32	(6.32)	16.30
NM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DAC	1.21	0.09	0.08	0.21	1.30	(1.41)	2.34	(2.62)	6.81
CMRE	1.50	(0.29)	0.00	(1.04)	0.00	0.00	2.50	(3.52)	11.48
GSL	1.24	0.21	0.15	0.36	1.27	(1.29)	2.59	(2.35)	10.89
ESEA	2.24	(0.05)	0.00	(0.09)	0.00	0.00	5.44	(3.65)	26.48

Nordic American Corporate Executives

Elected by the shareholders, the Nordic American's board of directors comprises two types of representatives: Nordic American inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nordic. The board's role is to monitor Nordic American's management team and ensure that shareholders' interests are well served. Nordic American'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, Nordic American's outside directors are responsible for providing unbiased perspectives on the board's policies.

Bjorn Giaever

Chief Financial Officer, Secretary

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