Euroseas Ltd.(Marshall Islands) (ESEA) — Stock Correlations & Overview
Over the past year, ESEA has moved most closely with GSL, DAC, CMRE. Explore the stocks most correlated and inversely correlated with ESEA below, along with its price, financials, and company profile.
Stocks correlated with ESEA
Correlation of daily returns. Higher positive values move with ESEA; negative values move opposite it. Informational only, not investment advice.
Most correlated with ESEA
| Symbol | Company | Correlation |
|---|---|---|
| GSL | Global Ship Lease, Inc. | 0.59 |
| DAC | Danaos Corporation | 0.54 |
| CMRE | Costamare Inc. | 0.54 |
| BOAT | SonicShares Global Shipping ETF | 0.52 |
| SHIP | Seanergy Maritime Holdings Corp. | 0.48 |
Most inversely correlated with ESEA
| Symbol | Company | Correlation |
|---|---|---|
| VIXY | ProShares VIX Short-Term Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.40 |
| UVIX | 2x Long VIX Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.39 |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -0.39 |
| UVXY | ProShares Ultra VIX Short-Term Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.38 |
| EPV | ProShares UltraShort FTSE Europe | -0.38 |
Frequently asked questions about ESEA correlations
- Which stocks are most correlated with ESEA?
- Based on one year of daily returns, the stocks most correlated with Euroseas Ltd.(Marshall Islands) (ESEA) are GSL (0.59), DAC (0.54) and CMRE (0.54). 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 ESEA?
- Over the past year, the stocks most inversely correlated with Euroseas Ltd.(Marshall Islands) (ESEA) are VIXY (-0.40), UVIX (-0.39) and VXX (-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 ESEA correlations calculated?
- We compute the correlation of daily returns between ESEA 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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