Navios Maritime Correlations

NMM Stock

USD 40.35 0.11 0.27%

The current 90-days correlation between Navios Maritime Partners and Global Ship Lease is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Navios Maritime moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Navios Maritime Partners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Navios Maritime Correlation With Market

Modest diversification

The correlation between Navios Maritime Partners and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Navios Maritime Partners 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 Navios Maritime Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Navios Stock

0.75	OP	Oceanpal	Pair Corr
0.63	ESEA	Euroseas	Pair Corr
0.71	ASC	Ardmore Shpng	Pair Corr
0.73	DSX	Diana Shipping	Pair Corr
0.68	SFL	SFL Corporation	Pair Corr
0.84	HAFN	Hafnia Limited	Pair Corr
0.64	HTCO	Caravelle International Symbol Change	Pair Corr
0.63	PSHG	Performance Shipping	Pair Corr
0.74	SMHI	SEACOR Marine Holdings	Pair Corr
0.65	TORO	Toro	Pair Corr
0.69	CISS	C3is Inc	Pair Corr
0.65	CTRM	Castor Maritime	Pair Corr

Moving against Navios Stock

0.44	SB-PD	Safe Bulkers	Pair Corr
0.42	SB	Safe Bulkers	Pair Corr
0.38	SB-PC	Safe Bulkers	Pair Corr
0.35	GSL	Global Ship Lease	Pair Corr
0.7	GSL-PB	Global Ship Lease	Pair Corr
0.55	CMRE-PC	Costamare	Pair Corr
0.5	DSX-PB	Diana Shipping	Pair Corr
0.49	CMRE-PB	Costamare	Pair Corr
0.48	HSHP	Himalaya Shipping	Pair Corr
0.42	SBLK	Star Bulk Carriers	Pair Corr
0.32	CMRE-PD	Costamare	Pair Corr
0.6	CCEC	Capital Clean Energy Symbol Change	Pair Corr

Related Correlations Analysis

	GSL	CMRE	GNK	EGLE	DAC	CPLP	ESEA	ASC	EDRY
GSL		-0.58	-0.04	0.0	0.68	0.0	-0.2	-0.51	-0.27	GSL
CMRE	-0.58		-0.05	0.0	-0.5	0.0	0.44	0.84	0.54	CMRE
GNK	-0.04	-0.05		0.0	0.32	0.0	0.03	0.19	0.17	GNK
EGLE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EGLE
DAC	0.68	-0.5	0.32	0.0		0.0	0.09	-0.33	-0.3	DAC
CPLP	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CPLP
ESEA	-0.2	0.44	0.03	0.0	0.09	0.0		0.36	0.04	ESEA
ASC	-0.51	0.84	0.19	0.0	-0.33	0.0	0.36		0.5	ASC
EDRY	-0.27	0.54	0.17	0.0	-0.3	0.0	0.04	0.5		EDRY
	GSL	CMRE	GNK	EGLE	DAC	CPLP	ESEA	ASC	EDRY

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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	+ 0.84	CMRE
DAC	+ 0.68	GSL
EDRY	+ 0.54	CMRE
EDRY	+ 0.5	ASC
ESEA	+ 0.44	CMRE
ASC	+ 0.36	ESEA

High negative correlations

CMRE	- 0.58	GSL
ASC	- 0.51	GSL
DAC	- 0.5	CMRE
ASC	- 0.33	DAC
EDRY	- 0.3	DAC
EDRY	- 0.27	GSL

Risk-Adjusted Indicators

There is a big difference between Navios Stock performing well and Navios Maritime 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 Navios Maritime'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
GSL	1.24	0.21	0.15	0.36	1.27	(1.29)	2.59	(2.35)	10.89
CMRE	1.50	(0.29)	0.00	(1.04)	0.00	0.00	2.50	(3.52)	11.48
GNK	1.42	(0.06)	0.00	(0.18)	0.00	0.00	3.13	(2.66)	8.37
EGLE	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
CPLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESEA	2.24	(0.05)	0.00	(0.09)	0.00	0.00	5.44	(3.65)	26.48
ASC	2.03	(0.10)	0.00	0.36	0.00	0.00	5.08	(5.08)	13.83
EDRY	1.98	(0.03)	0.00	(0.13)	0.00	0.00	4.10	(3.91)	14.67

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