BWLP vs LPG: Correlation
Measured on weekly returns over the past three years, BW LPG Limited (BWLP) and Dorian LPG Ltd. (LPG) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWLP and LPG?
Across a 3-year window, the weekly returns of BWLP and LPG correlate at 0.76, strong. Lately the two have moved closer together, with the 1-year correlation at 0.87 versus 0.76 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 1741.7 %².
Few assets follow BWLP as closely as LPG, which ranks #1 of 12 tracked partners. Their 12-month results are close: +72.4% for BWLP against +68.3% for LPG.
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 LPG: side by side
| BWLP (BW LPG Limited) | LPG (Dorian LPG Ltd.) | |
|---|---|---|
| 1-year return | +72.4% | +68.3% |
| 5-year return | +841.4% | +725.0% |
| Volatility (ann.) | 48.8% | 47.1% |
| Beta vs S&P 500 | 0.74 | 0.96 |
| Max drawdown (3Y) | -54.3% | -62.9% |
| Market cap | $3.7B | $2.1B |
| P/E (trailing) | 9.9 | 6.4 |
| Dividend yield | 7.90% | 6.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWLP | LPG |
|---|---|---|
| 2022 | +60.4% | +109.6% |
| 2023 | +157.7% | +171.4% |
| 2024 | -7.2% | -37.8% |
| 2025 | +22.9% | +9.8% |
| 2026 | +99.6% | +116.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWLP and LPG good diversifiers for each other?
To a limited degree. At 0.76 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 LPG?
As of 2026-08-27, the correlation of weekly returns between BWLP and LPG is 0.76 over 3 years, 0.87 over 1 year and 0.58 over 5 years.
Is LPG a good diversifier for BWLP?
To a limited degree. At 0.76 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 0.76 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-lpg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwlp-vs-lpg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWLP correlations · LPG correlations
