DAC vs ESEA: Correlation
How closely do Danaos Corporation (DAC) and Euroseas Ltd. (ESEA) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and ESEA?
Across a 3-year window, the weekly returns of DAC and ESEA correlate at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.76) runs above the 3-year figure (0.53). Stretching to 5 years gives 0.52, with an annualized covariance of 603.8 %².
Among the 15 assets we track against DAC, ESEA ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DAC outperformed by 39.3 percentage points (+68.0% for DAC against +28.7% for ESEA). One caveat on sizing: ESEA 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.
DAC vs ESEA: side by side
| DAC (Danaos Corporation) | ESEA (Euroseas Ltd.) | |
|---|---|---|
| 1-year return | +68.0% | +28.7% |
| 5-year return | +112.7% | +417.1% |
| Volatility (ann.) | 25.3% | 45.2% |
| Beta vs S&P 500 | 0.58 | 0.96 |
| Max drawdown (3Y) | -28.9% | -38.0% |
| Market cap | – | $0.5B |
| P/E (trailing) | 5.0 | 3.8 |
| Dividend yield | 2.44% | 4.10% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | ESEA |
|---|---|---|
| 2022 | -26.6% | -21.0% |
| 2023 | +47.5% | +83.4% |
| 2024 | +12.4% | +23.6% |
| 2025 | +20.0% | +96.0% |
| 2026 | +64.2% | +43.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and ESEA good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DAC and ESEA?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.76 over the last year and 0.52 over 5 years.
Is ESEA a good diversifier for DAC?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/dac-vs-esea.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dac-vs-esea/)
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Related comparisons
Hubs: DAC correlations · ESEA correlations
