StealthGas Correlations
| GASS Stock | USD 7.03 0.11 1.59% |
The current 90-days correlation between StealthGas and Mayfair Gold Corp is 0.03 (i.e., Significant diversification). The correlation of StealthGas 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.
StealthGas Correlation With Market
Significant diversification
The correlation between StealthGas and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding StealthGas and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with StealthGas Stock
| 0.76 | ET | Energy Transfer LP | PairCorr |
| 0.79 | DLNG | Dynagas LNG Partners | PairCorr |
| 0.61 | GLP | Global Partners LP | PairCorr |
| 0.63 | 0RG4 | Torm PLC Class | PairCorr |
| 0.61 | PAA | Plains All American | PairCorr |
| 0.69 | SFL | SFL Corporation | PairCorr |
| 0.62 | UFG | Uni Fuels Holdings | PairCorr |
Moving against StealthGas Stock
| 0.58 | EE | Excelerate Energy | PairCorr |
| 0.5 | SRR | Source Rock Royalties | PairCorr |
| 0.42 | ALA | AltaGas | PairCorr |
| 0.49 | ETP | Energy Transfer Partners | PairCorr |
| 0.68 | 601872 | China Merchants Energy | PairCorr |
| 0.55 | WMB | Williams Companies | PairCorr |
| 0.41 | 605090 | Jiangxi Jovo Energy | PairCorr |
Related Correlations Analysis
| -0.48 | 0.0 | 0.17 | -0.48 | 0.55 | 0.0 | MFGCF | ||
| -0.48 | 0.0 | -0.36 | 0.5 | -0.43 | -0.08 | GNL-PD | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | FSLUF | ||
| 0.17 | -0.36 | 0.0 | 0.3 | 0.62 | -0.28 | LTM | ||
| -0.48 | 0.5 | 0.0 | 0.3 | -0.13 | -0.26 | JAPSY | ||
| 0.55 | -0.43 | 0.0 | 0.62 | -0.13 | -0.28 | DAL | ||
| 0.0 | -0.08 | 0.0 | -0.28 | -0.26 | -0.28 | DINO | ||
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 StealthGas Stock performing well and StealthGas 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 StealthGas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MFGCF | 3.11 | 0.37 | 0.09 | 2.01 | 3.11 | 6.11 | 15.98 | |||
| GNL-PD | 0.50 | (0.05) | 0.00 | (0.11) | 0.00 | 0.95 | 3.18 | |||
| FSLUF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| LTM | 1.56 | (0.08) | (0.03) | (0.01) | 2.11 | 3.24 | 8.50 | |||
| JAPSY | 1.05 | (0.24) | 0.00 | (0.75) | 0.00 | 1.94 | 8.62 | |||
| DAL | 1.93 | 0.07 | 0.05 | 0.12 | 2.11 | 4.34 | 9.73 | |||
| DINO | 1.43 | (0.05) | 0.00 | (0.07) | 0.00 | 3.46 | 7.38 |