BORR vs PSHG: Correlation
Measured on weekly returns over the past three years, Borr Drilling Limited (BORR) and Performance Shipping Inc. (PSHG) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BORR and PSHG?
Across a 3-year window, the weekly returns of BORR and PSHG correlate at 0.31, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.31 over 3. Stretching to 5 years gives 0.21, with an annualized covariance of 807.0 %².
By 3-year correlation, PSHG places #7 of the 12 assets tracked against BORR. Correlation aside, the last 12 months split them widely, with BORR ahead by 66.6 points (+54.9% versus -11.7%).
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.
BORR vs PSHG: side by side
| BORR (Borr Drilling Limited) | PSHG (Performance Shipping Inc.) | |
|---|---|---|
| 1-year return | +54.9% | -11.7% |
| 5-year return | +246.5% | -97.7% |
| Volatility (ann.) | 58.6% | 44.0% |
| Beta vs S&P 500 | 1.05 | 0.16 |
| Max drawdown (3Y) | -77.1% | -45.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | 1.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | PSHG |
|---|---|---|
| 2022 | +141.3% | -93.6% |
| 2023 | +48.1% | -35.9% |
| 2024 | -43.3% | -18.1% |
| 2025 | +4.2% | +14.5% |
| 2026 | +12.7% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and PSHG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BORR and PSHG?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.36 over the last year and 0.21 over 5 years.
Is PSHG a good diversifier for BORR?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/borr-vs-pshg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/borr-vs-pshg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BORR correlations · PSHG correlations
