Performance Shipping Correlations

PSHG Stock

USD 1.55 0.01 0.64%

The current 90-days correlation between Performance Shipping and Seanergy Maritime Holdings is 0.23 (i.e., Modest diversification). The correlation of Performance Shipping 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.

Performance Shipping Correlation With Market

Good diversification

The correlation between Performance Shipping and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Performance Shipping 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 Performance Shipping. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more detail on how to invest in Performance Stock please use our How to Invest in Performance Shipping guide.

Moving together with Performance Stock

0.74	OP	Oceanpal	Pair Corr
0.61	PXSAW	Pyxis Tankers	Pair Corr
0.77	ASC	Ardmore Shpng	Pair Corr
0.63	NMM	Navios Maritime Partners	Pair Corr
0.67	PXS	Pyxis Tankers	Pair Corr
0.64	SFL	SFL Corporation	Pair Corr
0.77	HAFN	Hafnia Limited	Pair Corr
0.83	ICON	Icon Energy Corp	Pair Corr
0.63	SMHI	SEACOR Marine Holdings	Pair Corr
0.75	TORO	Toro	Pair Corr

Moving against Performance Stock

0.71	SB-PC	Safe Bulkers	Pair Corr
0.68	SB	Safe Bulkers	Pair Corr
0.68	SB-PD	Safe Bulkers	Pair Corr
0.67	CMRE-PC	Costamare	Pair Corr
0.57	CMRE-PB	Costamare	Pair Corr
0.56	HSHP	Himalaya Shipping	Pair Corr
0.56	CMRE-PD	Costamare	Pair Corr
0.55	GSL	Global Ship Lease	Pair Corr
0.37	DAC	Danaos	Pair Corr
0.76	G	Genpact Limited	Pair Corr
0.69	SBLK	Star Bulk Carriers	Pair Corr
0.68	CCEC	Capital Clean Energy Symbol Change	Pair Corr
0.46	DSX-PB	Diana Shipping	Pair Corr
0.43	GSL-PB	Global Ship Lease	Pair Corr

Related Correlations Analysis

	GNK	GOGL	EGLE	SBLK	OP	SHIP	GLBS	USEA	CTRM
GNK		0.46	0.0	0.2	0.23	0.32	0.41	0.45	0.04	GNK
GOGL	0.46		0.0	-0.4	0.46	-0.28	0.36	0.31	0.15	GOGL
EGLE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EGLE
SBLK	0.2	-0.4	0.0		-0.74	0.55	-0.08	-0.14	-0.62	SBLK
OP	0.23	0.46	0.0	-0.74		-0.36	0.24	0.11	0.75	OP
SHIP	0.32	-0.28	0.0	0.55	-0.36		0.1	0.08	-0.31	SHIP
GLBS	0.41	0.36	0.0	-0.08	0.24	0.1		0.31	-0.2	GLBS
USEA	0.45	0.31	0.0	-0.14	0.11	0.08	0.31		0.01	USEA
CTRM	0.04	0.15	0.0	-0.62	0.75	-0.31	-0.2	0.01		CTRM
	GNK	GOGL	EGLE	SBLK	OP	SHIP	GLBS	USEA	CTRM

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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	+ 0.75	OP
SHIP	+ 0.55	SBLK
GOGL	+ 0.46	GNK
OP	+ 0.46	GOGL
USEA	+ 0.45	GNK
GLBS	+ 0.41	GNK

High negative correlations

OP	- 0.74	SBLK
CTRM	- 0.62	SBLK
SBLK	- 0.4	GOGL
SHIP	- 0.36	OP
CTRM	- 0.31	SHIP
SHIP	- 0.28	GOGL

Risk-Adjusted Indicators

There is a big difference between Performance Stock performing well and Performance Shipping 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 Performance Shipping'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	0.00	3.13	(2.66)	8.37
GOGL	2.02	(0.21)	0.00	0.90	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	1.63	0.17	0.10	1.01	2.22	(1.81)	3.51	(3.32)	12.42
OP	2.47	(0.54)	0.00	(1.69)	0.00	0.00	5.32	(6.62)	16.30
SHIP	1.58	0.03	0.04	0.10	2.09	(1.61)	3.42	(3.92)	9.66
GLBS	2.53	0.16	0.05	0.09	2.96	(2.98)	5.30	(5.93)	16.23
USEA	1.94	(0.21)	0.00	(0.60)	0.00	0.00	3.45	(5.66)	20.89
CTRM	2.08	(0.18)	0.00	(0.27)	0.00	0.00	5.22	(4.78)	15.91

Performance Shipping Corporate Management

Eleni Leontari	Financial Director	Profile
Andreas Michalopoulos	CEO, MD	Profile
Captain Gavalas	Operations Director	Profile
Andreas Mavrommatis	Chief Accountant	Profile
Argyris Chachalis	Technical Director	Profile
Aikaterini Oikonomea	Legal Counsel	Profile
Anthony Argyropoulos	Chief Officer	Profile

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