Cross-Asset Correlation
Co-movement of daily changes across the dry-bulk classes, the tanker indices and marine fuel.
Six of the 24 published pairings carry evidence behind them, and the strongest crosses segments: Dirty Tanker Index against Supramax at +0.43. Marine fuel sits apart from all of it, every one of its seven freight readings inside ±0.20.
Every pairing
Deeper colour is a stronger reading; thinner samples and weaker evidence paint lighter. Cells that clear the evidence bar are ringed. Select any cell for its detail.
How the complexes cohere
Each block is the plain average of its pairings, shown beside the range it spans — so a two-sided block never reads as a consensus.
The whole board on one axis
Every non-definitional pairing on a single scale, so the spread of the board and how much of it carries evidence read together.
Selected pairing
Dirty Tanker Index × Supramax
The board carries 28 pairings. Four of them sit between the composite index and its own size classes: definitional rather than a market reading, so they are greyed in the matrix and are excluded from the read above, the block roll-up and the axis plot. The block roll-up groups 22 of the remaining 24; two readings fall outside these four blocks and are carried only by the matrix and the axis plot. Each reading rests on 33 to 62 overlapping days inside a 65 to 86 day window — short, and the colouring is scaled accordingly. Six of the 24 clear the evidence bar today and are ringed; the rest are shown but should not be leaned on. Association over a short window, not causation, and not advice.