ASC vs INSW: Correlation
Ardmore Shipping Corporation (ASC) and International Seaways, Inc. (INSW) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASC and INSW?
Across a 3-year window, the weekly returns of ASC and INSW correlate at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.90) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 1184.9 %².
In ASC's tracked universe of 14 assets, INSW sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months INSW outperformed by 92.3 percentage points (+58.0% for ASC against +150.3% for INSW).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASC vs INSW: side by side
| ASC (Ardmore Shipping Corporation) | INSW (International Seaways, Inc.) | |
|---|---|---|
| 1-year return | +58.0% | +150.3% |
| 5-year return | +514.4% | +861.9% |
| Volatility (ann.) | 38.9% | 36.8% |
| Beta vs S&P 500 | 0.31 | 0.50 |
| Max drawdown (3Y) | -61.4% | -50.4% |
| Market cap | $0.7B | $4.9B |
| P/E (trailing) | 6.9 | 6.0 |
| Dividend yield | 8.07% | 0.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASC | INSW |
|---|---|---|
| 2022 | +326.3% | +162.5% |
| 2023 | +5.8% | +42.9% |
| 2024 | -8.2% | -10.9% |
| 2025 | -11.1% | +45.0% |
| 2026 | +71.7% | +123.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASC and INSW good diversifiers for each other?
No. With a correlation of 0.83, ASC and INSW move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ASC and INSW?
The ASC/INSW correlation stands at 0.83 on a 3-year window (1 year: 0.90, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is INSW a good diversifier for ASC?
No. With a correlation of 0.83, ASC and INSW move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
A reading of 0.83 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asc-vs-insw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asc-vs-insw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASC correlations · INSW correlations
