Which stocks are most correlated with BOAT?

Based on one year of daily returns, the stocks most correlated with SonicShares Global Shipping ETF (BOAT) are SEA (0.75), TRMD (0.73) and ASC (0.70). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with BOAT?

Over the past year, the stocks most inversely correlated with SonicShares Global Shipping ETF (BOAT) are EFU (-0.40), BZQ (-0.39) and EPV (-0.39). A negative correlation means the two stocks have tended to move in opposite directions.

SonicShares Global Shipping ETF (BOAT) — Stock Correlations & Overview

Over the past year, BOAT has moved most closely with SEA, TRMD, ASC. Explore the stocks most correlated and inversely correlated with BOAT below, along with its price, financials, and company profile.

Stocks correlated with BOAT

Correlation of daily returns. Higher positive values move with BOAT; negative values move opposite it. Informational only, not investment advice.

Most correlated with BOAT

Symbol	Company	Correlation
SEA	U.S. Global Sea to Sky Cargo ETF	0.75
TRMD	TORM plc Class A Common Stock	0.73
ASC	ARDMORE SHIPPING CORPORATION	0.70
INSW	International Seaways, Inc. Common StockWATER TRANSPORTATION	0.70
TEN	Tsakos Energy Navigation Ltd.	0.69

Most inversely correlated with BOAT

Symbol	Company	Correlation
EFU	ProShares Trust UltraShort MSCI EAFE	-0.40
BZQ	ProShares UltraShort MSCI Brazil Capped	-0.39
EPV	ProShares UltraShort FTSE Europe	-0.39
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.37
SRTY	ProShares UltraPro Short Russell2000	-0.36

Frequently asked questions about BOAT correlations

Which stocks are most correlated with BOAT?: Based on one year of daily returns, the stocks most correlated with SonicShares Global Shipping ETF (BOAT) are SEA (0.75), TRMD (0.73) and ASC (0.70). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with BOAT?: Over the past year, the stocks most inversely correlated with SonicShares Global Shipping ETF (BOAT) are EFU (-0.40), BZQ (-0.39) and EPV (-0.39). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these BOAT correlations calculated?: We compute the correlation of daily returns between BOAT and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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