CTRM vs ECHO: Correlation
Measured on weekly returns over the past three years, Castor Maritime Inc. (CTRM) and EchoStar (ECHO) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTRM and ECHO?
On 3 years of weekly data the CTRM/ECHO correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.13) sits close to the 3-year figure. The 5-year figure is 0.02, and annualized covariance runs at -708.9 %².
Out of 12 assets tracked against CTRM, ECHO lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months ECHO outperformed by 35.1 percentage points (+12.1% for CTRM against +47.2% for ECHO). One caveat on sizing: ECHO is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CTRM vs ECHO: side by side
| CTRM (Castor Maritime Inc.) | ECHO (EchoStar) | |
|---|---|---|
| 1-year return | +12.1% | +47.2% |
| 5-year return | -89.2% | +227.3% |
| Volatility (ann.) | 51.7% | 91.1% |
| Beta vs S&P 500 | 0.35 | 1.17 |
| Max drawdown (3Y) | -72.3% | -50.1% |
| Market cap | – | $25.1B |
| P/E (trailing) | 0.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | CTRM | ECHO |
|---|---|---|
| 2022 | -21.1% | -36.7% |
| 2023 | -62.1% | -0.7% |
| 2024 | -35.3% | +38.2% |
| 2025 | -24.7% | +374.7% |
| 2026 | +15.9% | -20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTRM and ECHO good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CTRM and ECHO?
As of 2026-08-27, the correlation of weekly returns between CTRM and ECHO is -0.15 over 3 years, -0.13 over 1 year and 0.02 over 5 years.
Is ECHO a good diversifier for CTRM?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
A reading of -0.15 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/ctrm-vs-echo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctrm-vs-echo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTRM correlations · ECHO correlations
