TOP Ships Correlations
| TOPS Stock | USD 5.90 0.25 4.07% |
The current 90-days correlation between TOP Ships and Seanergy Maritime Holdings is 0.05 (i.e., Significant diversification). The correlation of TOP Ships 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.
TOP Ships Correlation With Market
Good diversification
The correlation between TOP Ships and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TOP Ships and DJI in the same portfolio, assuming nothing else is changed.
Moving against TOP Stock
Related Correlations Analysis
| 0.48 | 0.61 | 0.84 | 0.38 | 0.51 | 0.57 | SHIP | ||
| 0.48 | 0.5 | 0.6 | 0.34 | 0.58 | 0.36 | GLBS | ||
| 0.61 | 0.5 | 0.66 | 0.51 | 0.57 | 0.93 | USEA | ||
| 0.84 | 0.6 | 0.66 | 0.32 | 0.58 | 0.63 | PSHG | ||
| 0.38 | 0.34 | 0.51 | 0.32 | 0.44 | 0.49 | CTRM | ||
| 0.51 | 0.58 | 0.57 | 0.58 | 0.44 | 0.51 | XTIA | ||
| 0.57 | 0.36 | 0.93 | 0.63 | 0.49 | 0.51 | ESEA | ||
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Risk-Adjusted Indicators
There is a big difference between TOP Stock performing well and TOP Ships 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 TOP Ships' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SHIP | 1.90 | 0.29 | 0.11 | 0.60 | 1.72 | 4.17 | 10.47 | |||
| GLBS | 3.05 | 0.21 | (0.03) | (0.09) | 3.17 | 10.58 | 27.68 | |||
| USEA | 2.67 | 0.63 | 0.13 | (4.43) | 2.84 | 6.31 | 38.04 | |||
| PSHG | 2.90 | 0.58 | 0.11 | (1.63) | 2.83 | 6.86 | 20.56 | |||
| CTRM | 2.22 | 0.12 | 0.01 | 0.42 | 2.45 | 5.53 | 13.20 | |||
| XTIA | 8.63 | 1.90 | 0.12 | (1.26) | 10.11 | 22.73 | 105.36 | |||
| ESEA | 1.65 | 0.82 | 0.37 | 2.31 | 1.12 | 4.67 | 13.75 |