CMRE vs SB: Correlation
Costamare Inc. (CMRE) and Safe Bulkers, Inc (SB) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRE and SB?
Over the past 3 years, CMRE and SB moved with a correlation of 0.65, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.80 versus 0.65 over 3 years. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 757.9 %².
Few assets follow CMRE as closely as SB, which ranks #3 of 16 tracked partners. The last year tells two different stories: SB led by 68.0 percentage points, +32.8% for CMRE against +100.8% for SB.
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 SB: side by side
| CMRE (Costamare Inc.) | SB (Safe Bulkers, Inc) | |
|---|---|---|
| 1-year return | +32.8% | +100.8% |
| 5-year return | +30.5% | +151.1% |
| Volatility (ann.) | 35.3% | 33.0% |
| Beta vs S&P 500 | 0.73 | 0.88 |
| Max drawdown (3Y) | -57.8% | -49.7% |
| Market cap | $1.9B | $0.9B |
| P/E (trailing) | 5.6 | 10.9 |
| Dividend yield | 3.17% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRE | SB |
|---|---|---|
| 2022 | -22.8% | -18.7% |
| 2023 | +16.2% | +42.9% |
| 2024 | +26.9% | -5.1% |
| 2025 | +26.5% | +40.3% |
| 2026 | -1.3% | +79.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRE and SB good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMRE and SB?
As of 2026-08-27, the correlation of weekly returns between CMRE and SB is 0.65 over 3 years, 0.80 over 1 year and 0.62 over 5 years.
Is SB a good diversifier for CMRE?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmre-vs-sb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmre-vs-sb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMRE correlations · SB correlations
