Odyssey Marine Correlations

OMEX Stock

USD 0.59 0.01 1.72%

The current 90-days correlation between Odyssey Marine Explo and First Advantage Corp is 0.07 (i.e., Significant diversification). The correlation of Odyssey Marine 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.

Odyssey Marine Correlation With Market

Good diversification

The correlation between Odyssey Marine Exploration and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Odyssey Marine Exploration and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Odyssey Marine Exploration. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Odyssey Stock

0.84	DLHC	DLH Holdings Corp Fiscal Year End 4th of December 2024	Pair Corr
0.64	VIRC	Virco Manufacturing	Pair Corr
0.8	WHLM	Wilhelmina	Pair Corr
0.63	BTM	Bitcoin Depot	Pair Corr
0.74	FORR	Forrester Research Earnings Call This Week	Pair Corr
0.72	DSS	DSS Inc	Pair Corr

Moving against Odyssey Stock

0.92	AXR	AMREP	Pair Corr
0.89	ESGL	ESGL Holdings Limited	Pair Corr
0.88	EXPO	Exponent Earnings Call This Week	Pair Corr
0.84	WLDN	Willdan Group	Pair Corr
0.81	NL	NL Industries	Pair Corr
0.76	ADP	Automatic Data Processing	Pair Corr
0.71	FA	First Advantage Corp	Pair Corr
0.7	BV	BrightView Holdings Fiscal Year End 21st of November 2024	Pair Corr
0.65	ARC	ARC Document Solutions	Pair Corr
0.65	AWX	Avalon Holdings	Pair Corr
0.61	DRVN	Driven Brands Holdings	Pair Corr
0.6	VLTO	Veralto Earnings Call This Week	Pair Corr
0.6	CIX	CompX International	Pair Corr
0.55	BCO	Brinks Company	Pair Corr
0.47	MG	Mistras Group	Pair Corr
0.7	CLH	Clean Harbors	Pair Corr
0.6	EBF	Ennis Inc	Pair Corr
0.59	NCI	Neo Concept Internat	Pair Corr
0.58	KFY	Korn Ferry	Pair Corr
0.5	HNI	HNI Corp	Pair Corr
0.48	MHH	Mastech Holdings	Pair Corr
0.34	FCN	FTI Consulting Earnings Call This Week	Pair Corr
0.31	PBI	Pitney Bowes	Pair Corr

Related Correlations Analysis

	FA	CASS	CVEO	NTIP	BV	MMS	CBZ	AZZ
FA		0.5	0.72	-0.5	0.85	0.23	-0.63	0.28	FA
CASS	0.5		0.45	-0.01	0.47	0.43	-0.08	0.43	CASS
CVEO	0.72	0.45		-0.23	0.77	-0.07	-0.78	-0.12	CVEO
NTIP	-0.5	-0.01	-0.23		-0.59	-0.21	0.41	-0.08	NTIP
BV	0.85	0.47	0.77	-0.59		0.19	-0.69	0.16	BV
MMS	0.23	0.43	-0.07	-0.21	0.19		0.3	0.77	MMS
CBZ	-0.63	-0.08	-0.78	0.41	-0.69	0.3		0.34	CBZ
AZZ	0.28	0.43	-0.12	-0.08	0.16	0.77	0.34		AZZ
	FA	CASS	CVEO	NTIP	BV	MMS	CBZ	AZZ

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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

BV	+ 0.85	FA
BV	+ 0.77	CVEO
AZZ	+ 0.77	MMS
CVEO	+ 0.72	FA
CASS	+ 0.5	FA
BV	+ 0.47	CASS

High negative correlations

CBZ	- 0.78	CVEO
CBZ	- 0.69	BV
CBZ	- 0.63	FA
BV	- 0.59	NTIP
NTIP	- 0.5	FA
NTIP	- 0.23	CVEO

Risk-Adjusted Indicators

There is a big difference between Odyssey Stock performing well and Odyssey Marine 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 Odyssey Marine'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
FA	0.95	0.21	0.19	0.33	0.79	(1.16)	2.48	(1.72)	6.30
CASS	1.42	(0.10)	(0.02)	0.03	1.96	(1.52)	3.12	(3.42)	10.27
CVEO	1.17	0.11	0.05	0.25	1.37	(1.22)	3.14	(2.39)	8.45
NTIP	2.04	(0.24)	0.00	(0.35)	0.00	0.00	4.00	(3.82)	32.25
BV	1.80	0.25	0.13	0.26	1.94	(2.11)	4.67	(4.02)	14.55
MMS	0.85	(0.09)	0.00	(0.01)	0.00	0.00	1.75	(2.02)	5.24
CBZ	1.54	(0.35)	0.00	(0.41)	0.00	0.00	2.55	(2.99)	21.85
AZZ	1.74	(0.29)	0.00	(0.05)	0.00	0.00	3.18	(3.26)	11.68

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