CNQ vs PSHG: Correlation
Canadian Natural Resources Limited (CNQ) and Performance Shipping Inc. (PSHG) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNQ and PSHG?
Across a 3-year window, the weekly returns of CNQ and PSHG correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.26 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.14, with an annualized covariance of 429.8 %².
By 3-year correlation, PSHG places #14 of the 20 assets tracked against CNQ. Correlation aside, the last 12 months split them widely, with CNQ ahead by 73.9 points (+62.2% versus -11.7%).
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.
CNQ vs PSHG: side by side
| CNQ (Canadian Natural Resources Limited) | PSHG (Performance Shipping Inc.) | |
|---|---|---|
| 1-year return | +62.2% | -11.7% |
| 5-year return | +281.3% | -97.7% |
| Volatility (ann.) | 29.4% | 44.0% |
| Beta vs S&P 500 | 0.06 | 0.16 |
| Max drawdown (3Y) | -35.9% | -45.3% |
| Market cap | $102.6B | – |
| P/E (trailing) | 12.3 | 1.9 |
| Dividend yield | 4.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNQ | PSHG |
|---|---|---|
| 2022 | +42.9% | -93.6% |
| 2023 | +23.7% | -35.9% |
| 2024 | -1.3% | -18.1% |
| 2025 | +12.6% | +14.5% |
| 2026 | +50.0% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNQ and PSHG good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CNQ and PSHG?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.26 over the last year and 0.14 over 5 years.
Is PSHG a good diversifier for CNQ?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnq-vs-pshg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnq-vs-pshg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNQ correlations · PSHG correlations
