Danaos Corporation (DAC) — Stock Correlations & Overview
Over the past year, DAC has moved most closely with GSL, CMRE, BOAT. Explore the stocks most correlated and inversely correlated with DAC below, along with its price, financials, and company profile.
Stocks correlated with DAC
Correlation of daily returns. Higher positive values move with DAC; negative values move opposite it. Informational only, not investment advice.
Most correlated with DAC
| Symbol | Company | Correlation |
|---|---|---|
| GSL | Global Ship Lease, Inc. | 0.71 |
| CMRE | Costamare Inc. | 0.68 |
| BOAT | SonicShares Global Shipping ETF | 0.63 |
| NMM | Navios Maritime Partners L.P. | 0.62 |
| SBLK | Star Bulk Carriers Corp. | 0.62 |
Most inversely correlated with DAC
| Symbol | Company | Correlation |
|---|---|---|
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.38 |
| EUM | ProShares Trust Short MSCI Emerging Markets | -0.38 |
| EEV | ProShares Trust UltraShort MSCI Emerging Markets | -0.38 |
| BZQ | ProShares UltraShort MSCI Brazil Capped | -0.34 |
| SPDN | Direxion Daily S&P 500 Bear 1X ETF | -0.34 |
Frequently asked questions about DAC correlations
- Which stocks are most correlated with DAC?
- Based on one year of daily returns, the stocks most correlated with Danaos Corporation (DAC) are GSL (0.71), CMRE (0.68) and BOAT (0.63). 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 DAC?
- Over the past year, the stocks most inversely correlated with Danaos Corporation (DAC) are EDZ (-0.38), EUM (-0.38) and EEV (-0.38). 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 DAC correlations calculated?
- We compute the correlation of daily returns between DAC 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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