Okeanis Eco Correlations
| ECO Stock | 35.94 1.01 2.89% |
The correlation of Okeanis Eco 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Okeanis Eco moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Okeanis Eco Tankers 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.
Good diversification
The correlation between Okeanis Eco Tankers and NYA is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Okeanis Eco Tankers and NYA in the same portfolio, assuming nothing else is changed.
Okeanis |
The ability to find closely correlated positions to Okeanis Eco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Okeanis Eco 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 Okeanis Eco - 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 Okeanis Eco Tankers to buy it.
Moving together with Okeanis Stock
| 0.8 | SB | Safe Bulkers | PairCorr |
| 0.74 | SB-PC | Safe Bulkers | PairCorr |
| 0.63 | SB-PD | Safe Bulkers | PairCorr |
| 0.76 | PXSAP | Pyxis Tankers | PairCorr |
| 0.88 | ASC | Ardmore Shpng | PairCorr |
| 0.9 | DAC | Danaos Earnings Call This Week | PairCorr |
| 0.69 | DSX | Diana Shipping inc Earnings Call This Week | PairCorr |
| 0.79 | GNK | Genco Shipping Trading | PairCorr |
| 0.89 | GSL | Global Ship Lease | PairCorr |
| 0.87 | KEX | Kirby | PairCorr |
| 0.68 | NMM | Navios Maritime Partners Financial Report 28th of May 2024 | PairCorr |
| 0.73 | PXS | Pyxis Tankers | PairCorr |
| 0.67 | SFL | SFL Corporation | PairCorr |
| 0.73 | ZIM | ZIM Integrated Shipping Earnings Call Today | PairCorr |
Moving against Okeanis Stock
Related Correlations Analysis
| -0.02 | 0.0 | 0.0 | -0.05 | -0.41 | 0.39 | PCT | ||
| -0.02 | 0.0 | 0.0 | 0.87 | 0.34 | 0.18 | TBBB | ||
| 0.0 | 0.0 | -1.0 | 0.0 | 0.0 | 0.0 | LNDT | ||
| 0.0 | 0.0 | -1.0 | 0.0 | 0.0 | 0.0 | HNFSB | ||
| -0.05 | 0.87 | 0.0 | 0.0 | 0.24 | -0.05 | AXTA | ||
| -0.41 | 0.34 | 0.0 | 0.0 | 0.24 | 0.1 | FSI | ||
| 0.39 | 0.18 | 0.0 | 0.0 | -0.05 | 0.1 | ECVT | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Okeanis Stock performing well and Okeanis Eco 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 Okeanis Eco's 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PCT | 3.48 | (0.08) | 0.00 | 0.03 | 4.16 | 8.50 | 20.52 | |||
| TBBB | 2.26 | 0.25 | 0.10 | 0.37 | 2.21 | 5.96 | 16.15 | |||
| LNDT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HNFSB | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AXTA | 0.99 | 0.10 | 0.08 | 0.17 | 1.15 | 1.81 | 11.47 | |||
| FSI | 2.07 | 0.27 | 0.10 | 2.35 | 1.87 | 5.47 | 14.65 | |||
| ECVT | 1.55 | 0.07 | 0.01 | 0.42 | 1.98 | 2.74 | 12.19 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Okeanis Eco without increasing your portfolio risk or giving up the 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.Did you try this?
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Okeanis Eco Corporate Management
Elected by the shareholders, the Okeanis Eco's board of directors comprises two types of representatives: Okeanis Eco inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Okeanis. The board's role is to monitor Okeanis Eco's management team and ensure that shareholders' interests are well served. Okeanis Eco's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Okeanis Eco's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Iraklis Sbarounis | Chief Officer | Profile | |
| Thalia Kalafati | Treasurer | Profile | |
| Aristidis Alafouzos | Chief Officer | Profile | |
| Christopher Papaioannou | Chief Officer | Profile | |
| Dimitra Kontogogou | Company Secretary | Profile | |
| Konstantinos Oikonomopoulos | Chief Officer | Profile |
Already Invested in Okeanis Eco Tankers?
The danger of trading Okeanis Eco Tankers 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 Okeanis Eco 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 Okeanis Eco. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Okeanis Eco Tankers 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.
When determining whether Okeanis Eco Tankers offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Okeanis Eco's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Okeanis Eco Tankers Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Okeanis Eco Tankers Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Okeanis Eco Tankers. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. Note that the Okeanis Eco Tankers information on this page should be used as a complementary analysis to other Okeanis Eco'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 the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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When running Okeanis Eco's price analysis, check to measure Okeanis Eco'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 Okeanis Eco is operating at the current time. Most of Okeanis Eco's value examination focuses on studying past and present price action to predict the probability of Okeanis Eco's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Okeanis Eco's price. Additionally, you may evaluate how the addition of Okeanis Eco to your portfolios can decrease your overall portfolio volatility.
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Is Okeanis Eco'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 Okeanis Eco. If investors know Okeanis 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 Okeanis Eco 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 0.029 | Dividend Share 5.25 | Revenue Per Share 13.408 | Quarterly Revenue Growth 0.287 | Return On Assets 0.123 |
The market value of Okeanis Eco Tankers is measured differently than its book value, which is the value of Okeanis that is recorded on the company's balance sheet. Investors also form their own opinion of Okeanis Eco's value that differs from its market value or its book value, called intrinsic value, which is Okeanis Eco'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 Okeanis Eco's market value can be influenced by many factors that don't directly affect Okeanis Eco'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 Okeanis Eco's value and its price as these two are different measures arrived at by different means. Investors typically determine if Okeanis Eco is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Okeanis Eco'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.