Pyxis Tankers Correlations

PXS Stock

USD 3.30 0.01 0.30%

The current 90-days correlation between Pyxis Tankers and EuroDry is 0.14 (i.e., Average diversification). The correlation of Pyxis Tankers 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.

Pyxis Tankers Correlation With Market

Significant diversification

The correlation between Pyxis Tankers and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pyxis Tankers 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 Pyxis 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 interest.

For more information on how to buy Pyxis Stock please use our How to Invest in Pyxis Tankers guide.

Moving together with Pyxis Stock

0.63	EE	Excelerate Energy	Pair Corr
0.65	ET	Energy Transfer LP	Pair Corr
0.82	TK	Teekay	Pair Corr
0.79	DLNG	Dynagas LNG Partners	Pair Corr
0.74	VNOM	Viper Energy Ut	Pair Corr
0.67	FLNG	FLEX LNG	Pair Corr
0.74	DTM	DT Midstream	Pair Corr
0.82	LPG	Dorian LPG	Pair Corr
0.65	NAT	Nordic American Tankers	Pair Corr
0.68	NGL	NGL Energy Partners	Pair Corr
0.61	OKE	ONEOK Inc	Pair Corr
0.64	PBT	Permian Basin Royalty	Pair Corr
0.86	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.84	TNK	Teekay Tankers	Pair Corr
0.75	GLNG	Golar LNG Limited	Pair Corr

Moving against Pyxis Stock

0.73	GEL	Genesis Energy LP	Pair Corr
0.39	AM	Antero Midstream Partners	Pair Corr
0.31	CQP	Cheniere Energy Partners	Pair Corr
0.31	GLP	Global Partners LP	Pair Corr
0.68	GLOP-PA	GasLog Partners LP	Pair Corr
0.61	GLOP-PC	GasLog Partners LP	Pair Corr
0.6	PBA	Pembina Pipeline Corp	Pair Corr
0.6	GLOP-PB	GasLog Partners LP	Pair Corr

Related Correlations Analysis

	EDRY	CMRE	CPLP	GSL	DAC	ESEA	HSHP	KEX	NMM
EDRY		0.59	0.0	-0.31	-0.3	0.22	-0.17	0.62	0.25	EDRY
CMRE	0.59		0.0	-0.57	-0.49	0.46	-0.58	0.62	0.58	CMRE
CPLP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CPLP
GSL	-0.31	-0.57	0.0		0.66	-0.17	0.86	-0.68	-0.3	GSL
DAC	-0.3	-0.49	0.0	0.66		0.11	0.46	-0.27	0.21	DAC
ESEA	0.22	0.46	0.0	-0.17	0.11		-0.23	0.33	0.63	ESEA
HSHP	-0.17	-0.58	0.0	0.86	0.46	-0.23		-0.6	-0.42	HSHP
KEX	0.62	0.62	0.0	-0.68	-0.27	0.33	-0.6		0.57	KEX
NMM	0.25	0.58	0.0	-0.3	0.21	0.63	-0.42	0.57		NMM
	EDRY	CMRE	CPLP	GSL	DAC	ESEA	HSHP	KEX	NMM

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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

HSHP	+ 0.86	GSL
DAC	+ 0.66	GSL
NMM	+ 0.63	ESEA
KEX	+ 0.62	EDRY
KEX	+ 0.62	CMRE
CMRE	+ 0.59	EDRY

High negative correlations

KEX	- 0.68	GSL
KEX	- 0.6	HSHP
HSHP	- 0.58	CMRE
GSL	- 0.57	CMRE
DAC	- 0.49	CMRE
NMM	- 0.42	HSHP

Risk-Adjusted Indicators

There is a big difference between Pyxis Stock performing well and Pyxis Tankers 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 Pyxis Tankers' 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
EDRY	2.10	(0.18)	0.00	(0.47)	0.00	0.00	4.10	(5.36)	14.67
CMRE	1.46	(0.27)	0.00	(1.00)	0.00	0.00	2.50	(3.25)	11.48
CPLP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GSL	1.22	0.20	0.16	0.29	1.29	(1.28)	2.59	(2.29)	10.89
DAC	1.16	0.10	0.12	0.19	1.25	(1.32)	2.34	(2.53)	6.71
ESEA	2.23	(0.03)	0.00	(0.11)	0.00	0.00	5.44	(3.65)	26.48
HSHP	2.35	0.24	0.09	0.31	2.68	(2.55)	4.80	(4.15)	11.71
KEX	1.38	(0.15)	0.00	(0.21)	0.00	0.00	2.41	(3.12)	9.03
NMM	1.53	(0.13)	0.00	(0.32)	0.00	0.00	2.95	(3.30)	11.57

Pyxis Tankers Corporate Executives

Elected by the shareholders, the Pyxis Tankers' board of directors comprises two types of representatives: Pyxis Tankers inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pyxis. The board's role is to monitor Pyxis Tankers' management team and ensure that shareholders' interests are well served. Pyxis Tankers' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Pyxis Tankers' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Henry Williams	CFO and Treasurer	Profile
	Konstantinos Lytras	COO Secretary	Profile

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