Oceanpal Correlations

OP Stock

USD 0.97 0.06 6.59%

The current 90-days correlation between Oceanpal and Globus Maritime is 0.29 (i.e., Modest diversification). The correlation of Oceanpal 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.

Oceanpal Correlation With Market

Significant diversification

The correlation between Oceanpal and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oceanpal and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oceanpal. 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.

To learn how to invest in Oceanpal Stock, please use our How to Invest in Oceanpal guide.

Moving together with Oceanpal Stock

0.71	EDRY	EuroDry	Pair Corr
0.65	ASC	Ardmore Shpng	Pair Corr
0.83	KEX	Kirby	Pair Corr
0.75	NMM	Navios Maritime Partners	Pair Corr
0.64	SFL	SFL Corporation	Pair Corr
0.7	HAFN	Hafnia Limited	Pair Corr
0.74	ICON	Icon Energy Corp	Pair Corr
0.67	SMHI	SEACOR Marine Holdings	Pair Corr
0.83	CISS	C3is Inc	Pair Corr
0.79	CMRE	Costamare	Pair Corr
0.85	CTRM	Castor Maritime	Pair Corr

Moving against Oceanpal Stock

0.46	SB-PC	Safe Bulkers	Pair Corr
0.35	SB-PD	Safe Bulkers	Pair Corr
0.67	CCEC	Capital Clean Energy Symbol Change	Pair Corr
0.61	CMRE-PC	Costamare	Pair Corr
0.54	DSX-PB	Diana Shipping	Pair Corr
0.53	CMRE-PD	Costamare	Pair Corr
0.41	CMRE-PB	Costamare	Pair Corr
0.35	GSL-PB	Global Ship Lease	Pair Corr
0.34	HSHP	Himalaya Shipping	Pair Corr
0.34	SBLK	Star Bulk Carriers Sell-off Trend	Pair Corr
0.55	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	GNK	GOGL	EGLE	SBLK	TOPS	SHIP	ESEA	CTRM	PSHG	GLBS
GNK		0.45	0.0	0.46	0.28	0.51	0.31	0.47	-0.06	0.37	GNK
GOGL	0.45		0.0	-0.04	0.11	-0.04	0.18	0.16	0.1	0.35	GOGL
EGLE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	EGLE
SBLK	0.46	-0.04	0.0		-0.27	0.47	0.15	-0.18	-0.62	0.07	SBLK
TOPS	0.28	0.11	0.0	-0.27		0.25	0.3	0.39	0.51	0.53	TOPS
SHIP	0.51	-0.04	0.0	0.47	0.25		0.21	0.09	-0.06	0.19	SHIP
ESEA	0.31	0.18	0.0	0.15	0.3	0.21		0.61	0.32	-0.25	ESEA
CTRM	0.47	0.16	0.0	-0.18	0.39	0.09	0.61		0.49	-0.08	CTRM
PSHG	-0.06	0.1	0.0	-0.62	0.51	-0.06	0.32	0.49		-0.04	PSHG
GLBS	0.37	0.35	0.0	0.07	0.53	0.19	-0.25	-0.08	-0.04		GLBS
	GNK	GOGL	EGLE	SBLK	TOPS	SHIP	ESEA	CTRM	PSHG	GLBS

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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

CTRM	+ 0.61	ESEA
GLBS	+ 0.53	TOPS
SHIP	+ 0.51	GNK
PSHG	+ 0.51	TOPS
PSHG	+ 0.49	CTRM
CTRM	+ 0.47	GNK

High negative correlations

PSHG	- 0.62	SBLK
TOPS	- 0.27	SBLK
GLBS	- 0.25	ESEA
CTRM	- 0.18	SBLK
GLBS	- 0.08	CTRM
PSHG	- 0.06	SHIP

Risk-Adjusted Indicators

There is a big difference between Oceanpal Stock performing well and Oceanpal 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 Oceanpal'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	(0.03)	0.00	(0.16)	0.00	0.00	3.13	(2.66)	8.37
GOGL	1.97	(0.27)	0.00	0.99	0.00	0.00	4.11	(3.02)	21.39
EGLE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBLK	1.67	0.10	0.08	0.42	2.22	(1.87)	3.51	(3.56)	12.42
TOPS	1.93	(0.23)	0.00	(0.58)	0.00	0.00	4.55	(5.56)	15.50
SHIP	1.56	0.07	0.08	0.32	2.06	(1.63)	3.42	(3.92)	9.66
ESEA	1.79	(0.16)	0.00	(0.45)	0.00	0.00	3.57	(3.65)	10.88
CTRM	2.11	(0.38)	0.00	(0.59)	0.00	0.00	4.38	(5.10)	15.91
PSHG	2.25	(0.21)	0.00	0.56	0.00	0.00	4.65	(3.98)	14.50
GLBS	2.56	0.10	0.00	(0.02)	0.00	0.00	5.30	(5.97)	16.23

Oceanpal Corporate Management

Ioannis Zafirakis	Interim Pres	Profile
Margarita Veniou	Chief Secretary	Profile
Vasiliki Plousaki	Chief Officer	Profile
Eleftherios Papatrifon	CEO Director	Profile
Robert Perri	Chief Officer	Profile

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