Aggregated price index with volume information
Summary:
- Marine Shipping stocks up 0.1% on average while median return up -0.2% in a day
- Marine Shipping stocks up 2.6% on average while median return up 2.5% in a week
- Marine Shipping stocks up 6.6% on average while median return up 1.8% 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 $GLBS 104.4%, $KNOP 36.1%, $NM 25.0%, $GRIN 17.1%, $LPG 13.6%
- 1M losers are : Losers for past month are $CPLP -5.0%, $ESEA -5.0%, $TK -6.4%, $EURN -8.0%, $CMRE -8.1%
- 1W winners are : Winners for past week are $GLBS 23.5%, $INSW 5.7%, $TNP 5.4%, $EGLE 5.3%, $OSG 5.0%
- 1W losers are : Losers for past week are $KEX -0.7%, $PXS -1.6%, $LPG -2.2%, $PSHG -2.5%, $EURN -4.5%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 19.3%, for the past 3 months is 22.8%
In the past month for a 5 days rolling window, the highest corrrelation is 31.3%, the lowest correlation is -1.4%, the latest correlation is 9.3%
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 85.0% between EGLE and GNK
The lowest correlation is -49.9% between KNOP and NMM
SINGAPORE, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or the “Company” or “we” or “us” or “our”), a global provider of maritime transportation services predominantly in the drybulk sector, today announced the effective date of the proposed capital reduction and notice of the record date and the cash distribution date. Introduction The board of directors (the “Board”) of the Company refers to the Notice of Extraordinary Genera
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Today, we delve into Euronav NV (NYSE:EURN)'s valuation, considering its daily loss of 8.5%, a 3-month gain of 12.1%, and an Earnings Per Share (EPS) (EPS) of 2.92. This article aims to provide a thorough valuation analysis of Euronav NV (NYSE:EURN) to answer this question. Euronav NV, with its primary operations in maritime shipping and storage of crude oil and petroleum products, has established itself as a significant player in the industry.
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Friday, September 29, 2023 Dear Shareholders and Investors, Please see our web page www.nat.bm and scroll down to "In the News" for a read on our latest topic; The market is good for our ships. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor
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