In this my backtest studying the relation between the Bulk Dry Index and some of popular stocks in marine shipping sector, using CAGR as parameter of performance. CAGR is calculated from swing-high/swing-low to swing-low/swing-high of Baltic Dry index (ticker:BDI) over last years.
Marine shipping stocks are strongly correlated with the Bulk Dry Index. Stocks dropping during Index falling and stocks raising during Index raising. When Index raising and finding a potential swing-low, I will looking for that stock with the highest correlation whit BDI. From my backtest, those stocks are Star Bulk Carriers Corp, Knot Offshore Partners LP, Safe Bulkers Inc
Appreciate the insights - was alerted to this potential investment idea elsewhere, and your write-up had me look into further points. Will continue deep-diving on this stock, but thanks for sharing your idea.