Western Bulk Correlations

WSSTF Stock

USD 1.18 0.00 0.00%

The correlation of Western Bulk 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.

Western Bulk Correlation With Market

Average diversification

The correlation between Western Bulk Chartering and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Bulk Chartering and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Western Bulk could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Western Bulk when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Western Bulk - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Western Bulk Chartering to buy it.

Moving against Western Pink Sheet

0.8	SSNLF	Samsung Electronics	Pair Corr
0.47	CWCO	Consolidated Water Earnings Call Today	Pair Corr
0.46	WM	Waste Management	Pair Corr
0.4	GTN	Gray Television	Pair Corr
0.65	MMM	3M Company	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.63	HROWM	Harrow Health, 11875	Pair Corr
0.42	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.4	IBM	International Business	Pair Corr
0.4	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	SITIY	PCFBY	SITIF	MSLOY	NYUKF	OROVF	CITAF	AMKAF	NPNYY	MSLOF
SITIY		0.31	0.24	0.17	0.0	0.42	0.0	0.19	0.21	0.0	SITIY
PCFBY	0.31		0.32	0.08	0.0	-0.03	0.0	0.09	0.15	0.0	PCFBY
SITIF	0.24	0.32		-0.24	0.0	0.36	0.0	-0.28	-0.18	0.0	SITIF
MSLOY	0.17	0.08	-0.24		0.0	-0.07	0.0	0.86	0.94	0.0	MSLOY
NYUKF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NYUKF
OROVF	0.42	-0.03	0.36	-0.07	0.0		0.0	-0.15	-0.03	0.0	OROVF
CITAF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CITAF
AMKAF	0.19	0.09	-0.28	0.86	0.0	-0.15	0.0		0.91	0.0	AMKAF
NPNYY	0.21	0.15	-0.18	0.94	0.0	-0.03	0.0	0.91		0.0	NPNYY
MSLOF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MSLOF
	SITIY	PCFBY	SITIF	MSLOY	NYUKF	OROVF	CITAF	AMKAF	NPNYY	MSLOF

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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

NPNYY	+ 0.94	MSLOY
NPNYY	+ 0.91	AMKAF
AMKAF	+ 0.86	MSLOY
OROVF	+ 0.42	SITIY
OROVF	+ 0.36	SITIF
SITIF	+ 0.32	PCFBY

High negative correlations

AMKAF	- 0.28	SITIF
MSLOY	- 0.24	SITIF
NPNYY	- 0.18	SITIF
AMKAF	- 0.15	OROVF
OROVF	- 0.07	MSLOY
NPNYY	- 0.03	OROVF

Risk-Adjusted Indicators

There is a big difference between Western Pink Sheet performing well and Western Bulk 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 Western Bulk'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
SITIY	3.72	0.18	0.02	0.09	4.66	(6.97)	11.66	(9.28)	32.48
PCFBY	3.60	0.23	0.04	0.45	4.73	(6.16)	12.00	(7.08)	36.45
SITIF	0.82	0.08	0.00	(1.17)	0.00	0.00	1.20	(0.83)	26.62
MSLOY	1.19	0.13	0.09	0.27	1.55	(1.19)	2.29	(2.97)	7.67
NYUKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OROVF	1.34	(0.04)	0.00	(0.09)	0.00	0.00	4.73	(4.86)	28.47
CITAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMKAF	2.06	0.09	0.03	(23.90)	2.76	(3.32)	6.06	(5.72)	24.07
NPNYY	1.14	0.09	0.08	(0.23)	1.63	(1.19)	2.36	(2.42)	8.45
MSLOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Western Bulk without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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