DAC vs GNK: Correlation
How closely do Danaos Corporation (DAC) and Genco Shipping & Trading Limited (GNK) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and GNK?
On 3 years of weekly data the DAC/GNK correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 534.1 %².
Among the 15 assets we track against DAC, GNK ranks #6 by 3-year correlation. Their 12-month results are close: +68.0% for DAC against +63.6% for GNK.
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 GNK: side by side
| DAC (Danaos Corporation) | GNK (Genco Shipping & Trading Limited) | |
|---|---|---|
| 1-year return | +68.0% | +63.6% |
| 5-year return | +112.7% | +93.4% |
| Volatility (ann.) | 25.3% | 33.1% |
| Beta vs S&P 500 | 0.58 | 0.98 |
| Max drawdown (3Y) | -28.9% | -47.1% |
| Market cap | – | $1.1B |
| P/E (trailing) | 5.0 | 28.4 |
| Dividend yield | 2.44% | 6.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | GNK |
|---|---|---|
| 2022 | -26.6% | +11.4% |
| 2023 | +47.5% | +14.4% |
| 2024 | +12.4% | -8.9% |
| 2025 | +20.0% | +39.1% |
| 2026 | +64.2% | +49.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and GNK 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 GNK?
As of 2026-08-27, the correlation of weekly returns between DAC and GNK is 0.64 over 3 years, 0.70 over 1 year and 0.60 over 5 years.
Is GNK 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-gnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dac-vs-gnk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAC correlations · GNK correlations
