CMRE vs GNK: Correlation
Measured on weekly returns over the past three years, Costamare Inc. (CMRE) and Genco Shipping & Trading Limited (GNK) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRE and GNK?
On 3 years of weekly data the CMRE/GNK correlation comes out at 0.60, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 695.5 %².
By 3-year correlation, GNK places #4 of the 16 assets tracked against CMRE. The last year tells two different stories: GNK led by 30.8 percentage points, +32.8% for CMRE against +63.6% for GNK.
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.
CMRE vs GNK: side by side
| CMRE (Costamare Inc.) | GNK (Genco Shipping & Trading Limited) | |
|---|---|---|
| 1-year return | +32.8% | +63.6% |
| 5-year return | +30.5% | +93.4% |
| Volatility (ann.) | 35.3% | 33.1% |
| Beta vs S&P 500 | 0.73 | 0.98 |
| Max drawdown (3Y) | -57.8% | -47.1% |
| Market cap | $1.9B | $1.1B |
| P/E (trailing) | 5.6 | 28.4 |
| Dividend yield | 3.17% | 6.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRE | GNK |
|---|---|---|
| 2022 | -22.8% | +11.4% |
| 2023 | +16.2% | +14.4% |
| 2024 | +26.9% | -8.9% |
| 2025 | +26.5% | +39.1% |
| 2026 | -1.3% | +49.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRE and GNK good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMRE and GNK?
The CMRE/GNK correlation stands at 0.60 on a 3-year window (1 year: 0.65, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is GNK a good diversifier for CMRE?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/cmre-vs-gnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmre-vs-gnk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMRE correlations · GNK correlations
