BWLP vs GASS: Correlation
How closely do BW LPG Limited (BWLP) and StealthGas, Inc. (GASS) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWLP and GASS?
Across a 3-year window, the weekly returns of BWLP and GASS correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.34, with an annualized covariance of 1089.6 %².
Within BWLP's tracked universe of 12 assets, GASS comes in at #6 by 3-year correlation. The last year tells two different stories: BWLP led by 48.6 percentage points, +72.4% for BWLP against +23.8% for GASS.
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 GASS: side by side
| BWLP (BW LPG Limited) | GASS (StealthGas, Inc.) | |
|---|---|---|
| 1-year return | +72.4% | +23.8% |
| 5-year return | +841.4% | +247.3% |
| Volatility (ann.) | 48.8% | 40.3% |
| Beta vs S&P 500 | 0.74 | 0.28 |
| Max drawdown (3Y) | -54.3% | -44.3% |
| Market cap | $3.7B | $0.4B |
| P/E (trailing) | 9.9 | 5.4 |
| Dividend yield | 7.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWLP | GASS |
|---|---|---|
| 2022 | +60.4% | +27.0% |
| 2023 | +157.7% | +141.0% |
| 2024 | -7.2% | -12.5% |
| 2025 | +22.9% | +24.2% |
| 2026 | +99.6% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWLP and GASS good diversifiers for each other?
To a limited degree. At 0.55 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 GASS?
The BWLP/GASS correlation stands at 0.55 on a 3-year window (1 year: 0.59, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is GASS a good diversifier for BWLP?
To a limited degree. At 0.55 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 0.55 mean?
On the −1 to +1 scale, 0.55 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BWLP correlations · GASS correlations
