Navios Maritime Partners L.P. (NMM) — Stock Correlations & Overview
Over the past year, NMM has moved most closely with CMBT, SBLK, BOAT. Explore the stocks most correlated and inversely correlated with NMM below, along with its price, financials, and company profile.
Stocks correlated with NMM
Correlation of daily returns. Higher positive values move with NMM; negative values move opposite it. Informational only, not investment advice.
Most correlated with NMM
| Symbol | Company | Correlation |
|---|---|---|
| CMBT | CMB.TECH NV | 0.69 |
| SBLK | Star Bulk Carriers Corp. | 0.67 |
| BOAT | SonicShares Global Shipping ETF | 0.66 |
| TEN | Tsakos Energy Navigation Ltd. | 0.64 |
| TRMD | TORM plc Class A Common Stock | 0.63 |
Most inversely correlated with NMM
| Symbol | Company | Correlation |
|---|---|---|
| BZQ | ProShares UltraShort MSCI Brazil Capped | -0.31 |
| EFZ | ProShares Trust Short MSCI EAFE | -0.25 |
| EFU | ProShares Trust UltraShort MSCI EAFE | -0.24 |
| UVIX | 2x Long VIX Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.24 |
| VIXY | ProShares VIX Short-Term Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.24 |
Frequently asked questions about NMM correlations
- Which stocks are most correlated with NMM?
- Based on one year of daily returns, the stocks most correlated with Navios Maritime Partners L.P. (NMM) are CMBT (0.69), SBLK (0.67) and BOAT (0.66). 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 NMM?
- Over the past year, the stocks most inversely correlated with Navios Maritime Partners L.P. (NMM) are BZQ (-0.31), EFZ (-0.25) and EFU (-0.24). 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 NMM correlations calculated?
- We compute the correlation of daily returns between NMM 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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