Castor Maritime Correlations

CTRM
 Stock
  

USD 1.69  0.05  2.87%   

The correlation of Castor Maritime is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Castor Maritime moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Castor Maritime moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Castor Maritime could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Castor Maritime 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 Castor Maritime - 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 Castor Maritime to buy it.

Moving together with Castor Maritime

0.88CMRECostamarePairCorr
0.63CPLPCapital Product PartPairCorr
0.95DACDanaos CorpPairCorr
0.72DSXDiana ShippingPairCorr
0.84EDRYEurodryPairCorr
0.88EGLEEagle Bulk ShipPairCorr
0.67ESEAEuroseasPairCorr
0.62GLBSGlobus Maritime Limi Earnings Call  TomorrowPairCorr
0.77GNKGenco Shipping TradingPairCorr
0.82GOGLGolden Ocean Gp Downward RallyPairCorr
0.91GRINGrindrod Shipping Earnings Call  This WeekPairCorr
0.96GSLGlobal Ship LeasePairCorr
0.66INSWInternational SeawaysPairCorr
0.76KEXKirby CorpPairCorr
0.82MATXMatson IncPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
DDCVX
DDBAC
DDHPQ
DISBAC
CVXHPQ
BACHPQ
  
High negative correlations   
DIST
TCSCO
DISIBM
CSCOIBM
DISJNJ
BACIBM

Castor Maritime Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Castor Maritime stock performing well and Castor Maritime company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Castor Maritime's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
HPQ 2.03 (0.20)  0.00 (0.06)  0.00 (0.06)  0.00  4.22 (4.31)  12.62 
CVX 1.75 (0.04) (0.02)  0.02  2.34 (0.0222) (1.68)  3.06 (4.35)  11.62 
IBM 1.10  0.04  0.00  0.14  1.65  0.003 (1.04)  2.09 (2.47)  7.86 
BAC 1.53 (0.05) (0.02)  0.03  1.64 (0.0146) (1.74)  3.38 (3.07)  9.79 
CSCO 1.37 (0.14)  0.00 (0.06)  0.00 (0.06)  0.00  2.73 (1.76)  17.00 
JNJ 0.83 (0.13)  0.00 (0.23)  0.00 (0.16)  0.00  1.75 (2.01)  5.07 
T 0.79 (0.08)  0.00  0.88  0.00 (0.14)  0.00  1.69 (1.63)  7.50 
DD 1.63 (0.08) (0.03)  0.01  1.96 (0.0284) (1.81)  3.56 (3.21)  9.48 
DIS 1.88  0.10  0.07  0.14  1.81  0.06 (2.27)  3.98 (3.76)  7.34 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Castor Maritime without increasing your portfolio risk or giving up 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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Invested in Castor Maritime?

You need to understand the risk of investing before taking a position in Castor Maritime. The danger of trading Castor Maritime is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Castor Maritime is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Castor Maritime. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Castor Maritime is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Continue to Trending Equities. Note that the Castor Maritime information on this page should be used as a complementary analysis to other Castor Maritime's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.

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When running Castor Maritime price analysis, check to measure Castor Maritime's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Castor Maritime is operating at the current time. Most of Castor Maritime's value examination focuses on studying past and present price action to predict the probability of Castor Maritime's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Castor Maritime's price. Additionally, you may evaluate how the addition of Castor Maritime to your portfolios can decrease your overall portfolio volatility.
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Is Castor Maritime's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Castor Maritime. If investors know Castor will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Castor Maritime listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
3.07
Market Capitalization
164.6 M
Quarterly Revenue Growth YOY
2.1
Return On Assets
0.13
Return On Equity
0.26
The market value of Castor Maritime is measured differently than its book value, which is the value of Castor that is recorded on the company's balance sheet. Investors also form their own opinion of Castor Maritime's value that differs from its market value or its book value, called intrinsic value, which is Castor Maritime's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Castor Maritime's market value can be influenced by many factors that don't directly affect Castor Maritime's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Castor Maritime's value and its price as these two are different measures arrived at by different means. Investors typically determine Castor Maritime value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Castor Maritime's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.