CTRM vs EDRY: Correlation
Measured on weekly returns over the past three years, Castor Maritime Inc. (CTRM) and EuroDry Ltd. (EDRY) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTRM and EDRY?
Across a 3-year window, the weekly returns of CTRM and EDRY correlate at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.36). Stretching to 5 years gives 0.30, with an annualized covariance of 944.2 %².
Few assets follow CTRM as closely as EDRY, which ranks #3 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months EDRY outperformed by 352.6 percentage points (+12.1% for CTRM against +364.7% for EDRY).
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 EDRY: side by side
| CTRM (Castor Maritime Inc.) | EDRY (EuroDry Ltd.) | |
|---|---|---|
| 1-year return | +12.1% | +364.7% |
| 5-year return | -89.2% | +66.1% |
| Volatility (ann.) | 51.7% | 50.8% |
| Beta vs S&P 500 | 0.35 | 0.68 |
| Max drawdown (3Y) | -72.3% | -67.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | 0.7 | 14.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTRM | EDRY |
|---|---|---|
| 2022 | -21.1% | -9.7% |
| 2023 | -62.1% | +10.9% |
| 2024 | -35.3% | -41.2% |
| 2025 | -24.7% | +14.6% |
| 2026 | +15.9% | +284.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTRM and EDRY good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CTRM and EDRY?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.25 over the last year and 0.30 over 5 years.
Is EDRY a good diversifier for CTRM?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/ctrm-vs-edry.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctrm-vs-edry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTRM correlations · EDRY correlations
