DAC vs DSX: Correlation
Measured on weekly returns over the past three years, Danaos Corporation (DAC) and Diana Shipping inc. (DSX) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and DSX?
Over the past 3 years, DAC and DSX moved with a correlation of 0.64, which is strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 625.8 %².
Among the 15 assets we track against DAC, DSX ranks #5 by 3-year correlation. Neither side won the trailing year by much: +68.0% against +66.0%. Risk is not evenly split, since DSX carries 1.5 times the volatility of the other side.
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.
DAC vs DSX: side by side
| DAC (Danaos Corporation) | DSX (Diana Shipping inc.) | |
|---|---|---|
| 1-year return | +68.0% | +66.0% |
| 5-year return | +112.7% | -10.5% |
| Volatility (ann.) | 25.3% | 38.7% |
| Beta vs S&P 500 | 0.58 | 0.89 |
| Max drawdown (3Y) | -28.9% | -60.1% |
| Market cap | – | $0.3B |
| P/E (trailing) | 5.0 | 5.5 |
| Dividend yield | 2.44% | 1.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | DSX |
|---|---|---|
| 2022 | -26.6% | +18.2% |
| 2023 | +47.5% | -15.0% |
| 2024 | +12.4% | -28.1% |
| 2025 | +20.0% | -13.7% |
| 2026 | +64.2% | +64.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and DSX good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DAC and DSX?
The DAC/DSX correlation stands at 0.64 on a 3-year window (1 year: 0.63, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is DSX a good diversifier for DAC?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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/dac-vs-dsx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dac-vs-dsx/)
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Related comparisons
Hubs: DAC correlations · DSX correlations
