BOAT SonicShares Global Shipping ETF

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

BOAT vs SEA

Both indexed to 100 at 2026-05-11.

BOAT SEA · range 91–135 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

SEA U.S. Global Sea to Sky Cargo ETF

ρ +0.81beyond mkt +0.75holdout +0.87stable 100%robust

FRO Frontline Plc

ρ +0.70beyond mkt +0.69holdout +0.74stable 100%robust

INSW International Seaways, Inc. Common Stock

ρ +0.70beyond mkt +0.68holdout +0.71stable 100%robust

TRMD TORM plc Class A Common Stock

ρ +0.71beyond mkt +0.68holdout +0.73stable 100%robust

DHT DHT HOLDINGS, INC.

ρ +0.67beyond mkt +0.67holdout +0.68stable 100%robust

TEN Tsakos Energy Navigation Ltd.

ρ +0.69beyond mkt +0.65holdout +0.71stable 100%robust

No day-to-day relationship, but 5- or 10-day returns move together.

BWET Breakwave Tanker Shipping ETF

horizon 10dρ +0.56holdout +0.71stable 38%moderate

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

SNDL SNDL Inc. Common Shares

Δ -0.53recent -0.39prior +0.14beyond mkt -0.07

MMT Aberdeen Multi-Market Income Fund

Δ -0.50recent -0.38prior +0.12beyond mkt -0.07

EW Edwards Lifesciences Corp

Δ -0.49recent -0.34prior +0.14beyond mkt +0.02

STFS Star Fashion Culture Holdings Limited Class A Ordinary Shares

Δ -0.41recent -0.42prior -0.01beyond mkt -0.07

BINV Brandes International ETF

Δ -0.40recent -0.02prior +0.39beyond mkt +0.02

NAVI Navient Holdings, Inc. Common Stock

Δ +0.38recent +0.45prior +0.06beyond mkt +0.01

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
SEA U.S. Global Sea to Sky Cargo ETF	+0.75	+0.81	27
FRO Frontline Plc	+0.69	+0.70	27
TRMD TORM plc Class A Common Stock	+0.68	+0.71	27
DHT DHT HOLDINGS, INC.	+0.67	+0.67	27
ASC ARDMORE SHIPPING CORPORATION	+0.63	+0.66	27
TNK Teekay Tankers Ltd.	+0.62	+0.65	27