Seanergy Maritime Correlations

SHIP Stock

USD 6.93 0.11 1.56%

The current 90-days correlation between Seanergy Maritime and TOP Ships is -0.07 (i.e., Good diversification). The correlation of Seanergy Maritime 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.

Seanergy Maritime Correlation With Market

Significant diversification

The correlation between Seanergy Maritime Holdings and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seanergy Maritime Holdings 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 Seanergy Maritime Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving against Seanergy Stock

0.4	SFL	SFL Corporation	Pair Corr
0.39	OP	Oceanpal	Pair Corr
0.34	PXS	Pyxis Tankers	Pair Corr
0.34	GOGL	Golden Ocean Group	Pair Corr
0.33	ESEA	Euroseas	Pair Corr
0.32	HTCO	Caravelle International Symbol Change	Pair Corr
0.44	CISS	C3is Inc	Pair Corr
0.42	BW	Babcock Wilcox Enter	Pair Corr
0.38	BV	BrightView Holdings	Pair Corr
0.36	TORO	Toro	Pair Corr
0.36	J	Jacobs Solutions	Pair Corr
0.32	SMHI	SEACOR Marine Holdings	Pair Corr

Related Correlations Analysis

	TOPS	ESEA	PXS	CLCO	GLBS	USEA	PSHG	CTRM	TORO	DSX
TOPS		0.26	0.56	0.54	0.39	-0.16	0.65	0.54	0.72	0.08	TOPS
ESEA	0.26		0.47	0.32	-0.05	-0.08	0.48	0.42	0.45	0.57	ESEA
PXS	0.56	0.47		0.9	0.5	0.37	0.72	0.74	0.92	0.55	PXS
CLCO	0.54	0.32	0.9		0.59	0.4	0.78	0.81	0.88	0.5	CLCO
GLBS	0.39	-0.05	0.5	0.59		0.44	0.21	0.25	0.5	0.14	GLBS
USEA	-0.16	-0.08	0.37	0.4	0.44		0.03	0.17	0.27	0.37	USEA
PSHG	0.65	0.48	0.72	0.78	0.21	0.03		0.83	0.77	0.49	PSHG
CTRM	0.54	0.42	0.74	0.81	0.25	0.17	0.83		0.75	0.52	CTRM
TORO	0.72	0.45	0.92	0.88	0.5	0.27	0.77	0.75		0.4	TORO
DSX	0.08	0.57	0.55	0.5	0.14	0.37	0.49	0.52	0.4		DSX
	TOPS	ESEA	PXS	CLCO	GLBS	USEA	PSHG	CTRM	TORO	DSX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TORO	+ 0.92	PXS
CLCO	+ 0.9	PXS
TORO	+ 0.88	CLCO
CTRM	+ 0.83	PSHG
CTRM	+ 0.81	CLCO
PSHG	+ 0.78	CLCO

High negative correlations

USEA	- 0.16	TOPS
USEA	- 0.08	ESEA
GLBS	- 0.05	ESEA

Risk-Adjusted Indicators

There is a big difference between Seanergy Stock performing well and Seanergy Maritime 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 Seanergy Maritime'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
TOPS	1.57	0.10	0.05	0.28	1.97	(1.76)	3.75	(3.43)	15.50
ESEA	2.26	(0.10)	0.00	(0.12)	0.00	0.00	5.44	(3.65)	26.48
PXS	1.40	(0.14)	0.00	(1.28)	0.00	0.00	2.74	(2.84)	9.96
CLCO	2.11	(0.54)	0.00	(3.37)	0.00	0.00	3.95	(5.23)	16.61
GLBS	2.41	0.07	0.02	0.12	2.85	(2.90)	5.30	(4.35)	16.23
USEA	2.01	(0.26)	0.00	(0.56)	0.00	0.00	3.45	(5.66)	20.89
PSHG	1.98	(0.18)	0.00	(0.29)	0.00	0.00	4.52	(3.91)	12.23
CTRM	1.91	(0.20)	0.00	(0.27)	0.00	0.00	4.38	(4.45)	13.10
TORO	1.81	(0.21)	0.00	(0.55)	0.00	0.00	3.56	(4.02)	12.94
DSX	1.47	(0.15)	0.00	(1.28)	0.00	0.00	2.79	(3.24)	10.12

Seanergy Maritime Corporate Management

Stelios Psillakis	Technical Director	Profile
Stamatios Tsantanis	Chairman CEO	Profile
Theodora Mitropetrou	General Secretary	Profile
Stavros Gyftakis	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC