BWLP vs DAC: Correlation
BW LPG Limited (BWLP) and Danaos Corporation (DAC) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWLP and DAC?
Over the past 3 years, BWLP and DAC moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 733.7 %².
Among the 12 assets we track against BWLP, DAC ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +72.4% for BWLP and +68.0% for DAC. Note the risk asymmetry: BWLP runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BWLP vs DAC: side by side
| BWLP (BW LPG Limited) | DAC (Danaos Corporation) | |
|---|---|---|
| 1-year return | +72.4% | +68.0% |
| 5-year return | +841.4% | +112.7% |
| Volatility (ann.) | 48.8% | 25.3% |
| Beta vs S&P 500 | 0.74 | 0.58 |
| Max drawdown (3Y) | -54.3% | -28.9% |
| Market cap | $3.7B | – |
| P/E (trailing) | 9.9 | 5.0 |
| Dividend yield | 7.90% | 2.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWLP | DAC |
|---|---|---|
| 2022 | +60.4% | -26.6% |
| 2023 | +157.7% | +47.5% |
| 2024 | -7.2% | +12.4% |
| 2025 | +22.9% | +20.0% |
| 2026 | +99.6% | +64.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWLP and DAC good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BWLP and DAC?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.53 over the last year and 0.35 over 5 years.
Is DAC a good diversifier for BWLP?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 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/bwlp-vs-dac.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bwlp-vs-dac/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: BWLP correlations · DAC correlations
