Stealthgas Correlations

GASS
 Stock
  

USD 2.57  0.09  3.38%   

The correlation of Stealthgas 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 Stealthgas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stealthgas 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.
Please check Risk vs Return Analysis.
  
The ability to find closely correlated positions to Stealthgas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stealthgas 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 Stealthgas - 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 Stealthgas to buy it.

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

Stealthgas Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Stealthgas stock performing well and Stealthgas 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 Stealthgas' 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
CPLP 2.25 (0.12)  0.00 (0.05)  0.00 (0.0418)  0.00  5.69 (4.57)  13.72 
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 

Similar Equity Warning - GASS

Stealthgas was forked

The entity Stealthgas with a symbol GASS was recently forked. You can potentially use AMERICAN RESOURCES OFFSHORE with a symbol GASS1 from now on.

Invested in Stealthgas?

You need to understand the risk of investing before taking a position in Stealthgas. The danger of trading Stealthgas 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 Stealthgas 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 Stealthgas. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Stealthgas 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.
Please check Risk vs Return Analysis. Note that the Stealthgas information on this page should be used as a complementary analysis to other Stealthgas' 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 Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.

Complementary Tools for Stealthgas Stock analysis

When running Stealthgas price analysis, check to measure Stealthgas' 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 Stealthgas is operating at the current time. Most of Stealthgas' value examination focuses on studying past and present price action to predict the probability of Stealthgas' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Stealthgas' price. Additionally, you may evaluate how the addition of Stealthgas to your portfolios can decrease your overall portfolio volatility.
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Is Stealthgas' 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 Stealthgas. If investors know Stealthgas 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 Stealthgas 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
9.06
Market Capitalization
98.2 M
Quarterly Revenue Growth YOY
-0.041
Return On Assets
0.0142
Return On Equity
-0.0539
The market value of Stealthgas is measured differently than its book value, which is the value of Stealthgas that is recorded on the company's balance sheet. Investors also form their own opinion of Stealthgas' value that differs from its market value or its book value, called intrinsic value, which is Stealthgas' 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 Stealthgas' market value can be influenced by many factors that don't directly affect Stealthgas' 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 Stealthgas' value and its price as these two are different measures arrived at by different means. Investors typically determine Stealthgas value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Stealthgas' 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.