CMRE vs. NMM

Last updated Jun 3, 2026

CMRE (Costamare Inc.) and NMM (Navios Maritime Partners L.P.) are both stocks. Both operate in the Marine Shipping industry within the Industrials sector. Over the past 10 years, CMRE returned 13.89%/yr vs 15.95%/yr for NMM. At a 0.46 correlation, their price movements are largely independent.

Performance

CMRE vs. NMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Costamare Inc. (CMRE) and Navios Maritime Partners L.P. (NMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, CMRE has underperformed NMM with an annualized return of 13.89%, while NMM has yielded a comparatively higher 15.95% annualized return.

CMRE

• 1D: -0.38%
• 1M: -5.46%
• YTD: 0.00%
• 6M: -0.19%
• 1Y: 87.72%
• 3Y*: 41.91%
• 5Y*: 18.86%
• 10Y*: 13.89%

NMM

• 1D: 0.18%
• 1M: 1.22%
• YTD: 37.70%
• 6M: 32.79%
• 1Y: 83.22%
• 3Y*: 53.13%
• 5Y*: 23.92%
• 10Y*: 15.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMRE vs. NMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMRE Costamare Inc.	0.00%	73.07%	28.07%	17.60%	-21.93%	59.04%	-7.26%	132.86%	-19.11%	9.57%
NMM Navios Maritime Partners L.P.	37.70%	21.68%	55.59%	8.61%	4.18%	125.91%	-34.68%	57.42%	-62.79%	67.38%

Correlation

The correlation between CMRE and NMM is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 5, 2010	0.46

The correlation between CMRE and NMM shifts across timeframes, from 0.46 (all time) to 0.64 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CMRE : $1.88B NMM : $2.11B
EPS CMRE : $2.87 NMM : $11.86
PE Ratio CMRE : 5.43 NMM : 6.08
PS Ratio CMRE : 2.20 NMM : 1.51
PB Ratio CMRE : 0.87 NMM : 0.61
Total Revenue (TTM) CMRE : $849.60M NMM : $1.40B
Gross Profit (TTM) CMRE : $495.90M NMM : $919.38M
EBITDA (TTM) CMRE : $569.59M NMM : $708.29M

Return for Risk

CMRE vs. NMM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMRE

CMRE Risk / Return Rank: 91
CMRE Sharpe Ratio Rank: 93
CMRE Sortino Ratio Rank: 90
CMRE Omega Ratio Rank: 87
CMRE Calmar Ratio Rank: 93
CMRE Martin Ratio Rank: 94

NMM

NMM Risk / Return Rank: 91
NMM Sharpe Ratio Rank: 92
NMM Sortino Ratio Rank: 91
NMM Omega Ratio Rank: 87
NMM Calmar Ratio Rank: 89
NMM Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMRE vs. NMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Costamare Inc. (CMRE) and Navios Maritime Partners L.P. (NMM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CMRE	NMM	Difference
Sharpe ratio Return per unit of total volatility	2.72	2.57	+0.14
Sortino ratio Return per unit of downside risk	3.30	3.48	-0.18
Omega ratio Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio Return relative to maximum drawdown	6.05	4.53	+1.52
Martin ratio Return relative to average drawdown	18.26	16.05	+2.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMRE vs. NMM - Sharpe Ratio Comparison

The current CMRE Sharpe Ratio is 2.72, which is comparable to the NMM Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of CMRE and NMM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMRE	NMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.57	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.57	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.29	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	-0.02	+0.27

Drawdowns

CMRE vs. NMM - Drawdown Comparison

The maximum CMRE drawdown since its inception was -78.24%, smaller than the maximum NMM drawdown of -98.13%. Use the drawdown chart below to compare losses from any high point for CMRE and NMM.

Drawdown Indicators

	CMRE	NMM	Difference
Max Drawdown Largest peak-to-trough decline	-78.24%	-98.13%	+19.89%
Max Drawdown (1Y) Largest decline over 1 year	-14.61%	-18.69%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-50.07%	-53.75%	+3.68%
Max Drawdown (5Y) Largest decline over 5 years	-52.88%	-53.75%	+0.87%
Max Drawdown (10Y) Largest decline over 10 years	-66.54%	-87.93%	+21.39%
Current Drawdown Current decline from peak	-12.49%	-64.49%	+52.00%
Average Drawdown Average peak-to-trough decline	-33.50%	-58.83%	+25.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	5.28%	-0.44%

Volatility

CMRE vs. NMM - Volatility Comparison

The current volatility for Costamare Inc. (CMRE) is 11.61%, while Navios Maritime Partners L.P. (NMM) has a volatility of 13.27%. This indicates that CMRE experiences smaller price fluctuations and is considered to be less risky than NMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMRE	NMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.61%	13.27%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	23.34%	25.70%	-2.36%
Volatility (1Y) Calculated over the trailing 1-year period	32.47%	32.52%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.47%	42.33%	-3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.38%	54.91%	-10.53%

Dividends

CMRE vs. NMM - Dividend Comparison

CMRE's dividend yield for the trailing twelve months is around 2.95%, more than NMM's 0.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMRE Costamare Inc.	2.95%	2.54%	3.58%	4.42%	9.11%	3.40%	4.83%	4.20%	9.11%	6.93%	17.32%	11.04%
NMM Navios Maritime Partners L.P.	0.29%	0.38%	0.46%	0.72%	0.77%	0.80%	6.25%	6.44%	7.06%	0.00%	0.00%	50.99%

Financials

CMRE vs. NMM - Profitability Comparison

The chart below illustrates the profitability comparison between Costamare Inc. and Navios Maritime Partners L.P. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CMRE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Costamare Inc. reported a gross profit of 103.13M and revenue of 201.56M. Therefore, the gross margin over that period was 51.2%.

NMM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Navios Maritime Partners L.P. reported a gross profit of 244.43M and revenue of 357.01M. Therefore, the gross margin over that period was 68.5%.

CMRE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Costamare Inc. reported an operating income of 88.13M and revenue of 201.56M, resulting in an operating margin of 43.7%.

NMM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Navios Maritime Partners L.P. reported an operating income of 125.60M and revenue of 357.01M, resulting in an operating margin of 35.2%.

CMRE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Costamare Inc. reported a net income of 80.40M and revenue of 201.56M, resulting in a net margin of 39.9%.

NMM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Navios Maritime Partners L.P. reported a net income of 106.34M and revenue of 357.01M, resulting in a net margin of 29.8%.

Frequently Asked Questions

Can I hold both CMRE and NMM in my portfolio?

CMRE and NMM have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMRE or NMM?

NMM has higher volatility (13.27%) compared to CMRE (11.61%). In terms of maximum drawdown, CMRE dropped -78.24% vs NMM's -98.13%.

Which has better risk-adjusted returns?

CMRE currently has the higher Sharpe Ratio (2.72 vs 2.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.