Safe Bulkers Correlations

SB Stock

USD 3.84 0.14 3.52%

The current 90-days correlation between Safe Bulkers and Global Ship Lease is 0.54 (i.e., Very weak diversification). The correlation of Safe Bulkers 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.

Safe Bulkers Correlation With Market

Weak diversification

The correlation between Safe Bulkers and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Safe Bulkers and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Safe Bulkers. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade Safe Stock refer to our How to Trade Safe Stock guide.

Moving together with Safe Stock

0.77	EDRY	EuroDry	Pair Corr
0.82	ESEA	Euroseas	Pair Corr
0.85	ASC	Ardmore Shpng	Pair Corr
0.87	DSX	Diana Shipping	Pair Corr
0.77	ECO	Okeanis Eco Tankers	Pair Corr
0.72	GNK	Genco Shipping Trading	Pair Corr
0.8	SFL	SFL Corporation	Pair Corr
0.66	GASS	StealthGas	Pair Corr
0.81	GOGL	Golden Ocean Group Earnings Call Tomorrow	Pair Corr
0.86	HAFN	Hafnia Limited Earnings Call Today	Pair Corr
0.86	HSHP	Himalaya Shipping	Pair Corr
0.76	KNOP	KNOT Offshore Partners	Pair Corr
0.81	PANL	Pangaea Logistic	Pair Corr
0.92	SBLK	Star Bulk Carriers	Pair Corr
0.91	SHIP	Seanergy Maritime	Pair Corr
0.81	SMHI	SEACOR Marine Holdings	Pair Corr
0.82	BWLP	BW LPG Limited Earnings Call This Week	Pair Corr
0.62	TORO	Toro	Pair Corr

Moving against Safe Stock

0.73	SB-PC	Safe Bulkers	Pair Corr
0.71	SB-PD	Safe Bulkers	Pair Corr
0.81	HTCO	Caravelle International Symbol Change	Pair Corr
0.64	ULTRF	Ultrapetrol Bahamas	Pair Corr
0.53	CMRE-PC	Costamare	Pair Corr
0.43	MATX	Matson Inc	Pair Corr
0.42	CMRE-PD	Costamare	Pair Corr
0.4	ZIM	ZIM Integrated Shipping	Pair Corr
0.32	CMRE-PB	Costamare	Pair Corr
0.64	B	Barnes Group	Pair Corr
0.56	J	Jacobs Solutions	Pair Corr
0.51	R	Ryder System	Pair Corr
0.45	G	Genpact Limited	Pair Corr
0.45	AL	Air Lease	Pair Corr
0.33	CCEC	Capital Clean Energy Symbol Change	Pair Corr

Related Correlations Analysis

	GSL	CMRE	NMM	GNK	EGLE	SBLK	GOGL	DSX	USEA	TOPS
GSL		0.72	0.79	0.61	-0.32	0.83	0.74	0.85	0.68	0.69	GSL
CMRE	0.72		0.67	0.82	-0.32	0.69	0.83	0.44	0.22	0.27	CMRE
NMM	0.79	0.67		0.52	-0.56	0.73	0.62	0.69	0.65	0.7	NMM
GNK	0.61	0.82	0.52		-0.57	0.84	0.95	0.5	0.36	0.21	GNK
EGLE	-0.32	-0.32	-0.56	-0.57		-0.57	-0.51	-0.39	-0.5	-0.3	EGLE
SBLK	0.83	0.69	0.73	0.84	-0.57		0.91	0.83	0.74	0.49	SBLK
GOGL	0.74	0.83	0.62	0.95	-0.51	0.91		0.64	0.47	0.33	GOGL
DSX	0.85	0.44	0.69	0.5	-0.39	0.83	0.64		0.86	0.7	DSX
USEA	0.68	0.22	0.65	0.36	-0.5	0.74	0.47	0.86		0.62	USEA
TOPS	0.69	0.27	0.7	0.21	-0.3	0.49	0.33	0.7	0.62		TOPS
	GSL	CMRE	NMM	GNK	EGLE	SBLK	GOGL	DSX	USEA	TOPS

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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

GOGL	+ 0.95	GNK
GOGL	+ 0.91	SBLK
USEA	+ 0.86	DSX
DSX	+ 0.85	GSL
SBLK	+ 0.84	GNK
SBLK	+ 0.83	GSL

High negative correlations

SBLK	- 0.57	EGLE
EGLE	- 0.57	GNK
EGLE	- 0.56	NMM
GOGL	- 0.51	EGLE
USEA	- 0.5	EGLE
DSX	- 0.39	EGLE

Risk-Adjusted Indicators

There is a big difference between Safe Stock performing well and Safe Bulkers 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 Safe Bulkers' 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	1.26	(0.27)	0.00	(0.48)	0.00	0.00	2.46	(2.87)	8.24
CMRE	1.75	(0.10)	0.00	(0.06)	0.00	0.00	3.19	(4.34)	9.49
NMM	1.72	(0.19)	0.00	(0.33)	0.00	0.00	4.85	(3.20)	12.91
GNK	1.41	(0.09)	(0.07)	0.01	1.61	(1.57)	2.54	(2.83)	7.25
EGLE	1.56	(0.13)	0.00	(0.34)	0.00	0.00	3.14	(3.92)	10.32
SBLK	1.56	(0.30)	0.00	(0.29)	0.00	0.00	3.44	(3.57)	10.19
GOGL	1.70	(0.22)	0.00	(0.24)	0.00	0.00	3.81	(4.16)	12.54
DSX	1.84	(0.46)	0.00	(16.06)	0.00	0.00	3.14	(3.91)	17.12
USEA	1.41	0.00	0.00	0.00	0.00	0.00	2.38	(3.77)	10.21
TOPS	1.68	(0.25)	0.00	(0.38)	0.00	0.00	5.29	(2.95)	10.00

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