Aggregated price index with volume information
Summary:
- Marine Shipping stocks down 1.1% on average while median return down 1.1% in a day
- Marine Shipping stocks down 3.3% on average while median return down 3.1% in a week
- Marine Shipping stocks down 0.7% on average while median return down 1.5% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $GRIN 26.7%, $DLNG 16.2%, $EURN 6.3%, $KEX 5.5%, $LPG 4.7%
- 1M losers are : Losers for past month are $GASS -4.9%, $STNG -5.6%, $CPLP -5.6%, $TRMD -6.2%, $ESEA -8.1%
- 1W winners are : Winners for past week are $DLNG 5.3%, $DSX 1.4%, $GRIN 1.4%, $CPLP 0.8%
- 1W losers are : Losers for past week are $TNK -5.6%, $CMRE -6.1%, $FRO -6.5%, $ESEA -8.4%, $TRMD -10.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 21.0%, for the past 3 months is 16.2%
In the past month for a 5 days rolling window, the highest corrrelation is 38.9%, the lowest correlation is -1.0%, the latest correlation is 15.3%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 91.0% between GNK and GOGL
The lowest correlation is -50.8% between EURN and GASS
NEW YORK, April 18, 2024--GK Investor LLC ("GK"), an affiliate of George Economou that is an approximately 5.3% shareholder of Genco Shipping & Trading Limited ("Genco" or the "Company") (NYSE: GNK), today announced that it has filed its definitive proxy statement with the U.S. Securities and Exchange Commission in connection with Genco’s 2024 Annual Meeting of Shareholders (the "Annual Meeting"), scheduled for May 23, 2024. In addition, GK is sending a letter to the Company’s shareholders which
ATHENS, Greece, April 18, 2024 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Bohai Shipping (HEBEI) Co., Ltd, for one of its Capesize dry bulk vessels, the m/v P. S. Palios. The gross charter rate is US$27,150 per day, minus a 5% commission paid to third parti
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ATHENS, Greece, April 18, 2024 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a time charter contract for its 1,740 teu feeder containership, M/V EM Hydra, for a minimum period of ten to a maximum period of twelve months at the option of the charterer, at a gross daily rate of $13,000 in direct continuation of its existing charter.
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Maroussi, Greece – April 17, 2024 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an international shipping company, announced today that its Annual Report on Form 20-F for the year ended December 31, 2023 has been filed with the Securities and Exchange Commission and can be accessed on our website, www.pyxistankers.com. Alternatively, shareholders may also request a hard copy of the annual report containing our audited financial statements, free of charge, by contacting us using the contact detail
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