Pyxis Tankers Correlations
| PXSAW Stock | USD 0.50 0.00 0.00% |
The current 90-days correlation between Pyxis Tankers and Pyxis Tankers is -0.34 (i.e., Very good 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
Average diversification
The correlation between Pyxis Tankers and DJI is 0.11 (i.e., Average 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.
Pyxis |
Moving together with Pyxis Stock
Moving against Pyxis Stock
| 0.7 | EE | Excelerate Energy | PairCorr |
| 0.69 | DTM | DT Midstream | PairCorr |
| 0.68 | GLP | Global Partners LP | PairCorr |
| 0.68 | KMI | Kinder Morgan Sell-off Trend | PairCorr |
| 0.67 | ET | Energy Transfer LP Aggressive Push | PairCorr |
| 0.66 | ENLC | EnLink Midstream LLC | PairCorr |
| 0.66 | CQP | Cheniere Energy Partners | PairCorr |
| 0.66 | LNG | Cheniere Energy Sell-off Trend | PairCorr |
| 0.65 | ENB | Enbridge | PairCorr |
| 0.64 | DLNG | Dynagas LNG Partners Earnings Call Tomorrow | PairCorr |
| 0.64 | EPD | Enterprise Products | PairCorr |
| 0.62 | IMPPP | Imperial Petroleum | PairCorr |
| 0.59 | AM | Antero Midstream Partners | PairCorr |
| 0.55 | VNOM | Viper Energy Ut | PairCorr |
| 0.69 | OKE | ONEOK Inc | PairCorr |
| 0.68 | WMB | Williams Companies | PairCorr |
| 0.63 | TRP | TC Energy Corp | PairCorr |
| 0.58 | PBT | Permian Basin Royalty | PairCorr |
| 0.55 | GLOP-PC | GasLog Partners LP | PairCorr |
| 0.54 | GLOP-PB | GasLog Partners LP | PairCorr |
| 0.52 | SEAL-PA | Seapeak LLC | PairCorr |
| 0.46 | GLOP-PA | GasLog Partners LP | PairCorr |
| 0.44 | SEAL-PB | Seapeak LLC | PairCorr |
| 0.38 | GLNG | Golar LNG Limited | PairCorr |
| 0.37 | PBA | Pembina Pipeline Corp | PairCorr |
| 0.37 | EP-PC | El Paso Energy | PairCorr |
Related Correlations Analysis
| -0.46 | -0.28 | -0.19 | 0.22 | UKOMW | ||
| -0.46 | -0.1 | 0.38 | -0.08 | THWWW | ||
| -0.28 | -0.1 | 0.16 | -0.71 | PXSAP | ||
| -0.19 | 0.38 | 0.16 | -0.29 | LGHLW | ||
| 0.22 | -0.08 | -0.71 | -0.29 | TBLTW | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UKOMW | 9.15 | 2.05 | 0.09 | (0.50) | 9.31 | 28.32 | 100.06 | |||
| THWWW | 6.01 | (0.04) | 0.00 | 0.08 | 6.18 | 15.26 | 65.09 | |||
| PXSAP | 0.24 | 0.02 | (0.19) | 0.49 | 0.23 | 0.70 | 1.91 | |||
| LGHLW | 4.79 | 0.62 | 0.05 | (0.22) | 5.20 | 12.70 | 31.65 | |||
| TBLTW | 7.70 | 0.56 | 0.02 | (0.34) | 10.09 | 22.50 | 90.48 |
Pyxis Tankers Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Pyxis Tankers stock to make a market-neutral strategy. Peer analysis of Pyxis Tankers could also be used in its relative valuation, which is a method of valuing Pyxis Tankers by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
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.
| Konstantinos Lytras | COO Secretary | Profile |