DAC vs GSL: Correlation
Danaos Corporation (DAC) and Global Ship Lease Inc New Class A (GSL) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and GSL?
On 3 years of weekly data the DAC/GSL correlation comes out at 0.76, strong. Recent behaviour matches the longer record: 0.78 over 1 year against 0.76 over 3. The 5-year figure is 0.75, and annualized covariance runs at 575.6 %².
GSL is one of the assets that tracks DAC most closely: it ranks #1 out of the 15 assets we track against DAC. The trailing year gives DAC the advantage: +68.0% versus +60.1%, a 7.9-point spread.
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 GSL: side by side
| DAC (Danaos Corporation) | GSL (Global Ship Lease Inc New Class A) | |
|---|---|---|
| 1-year return | +68.0% | +60.1% |
| 5-year return | +112.7% | +211.3% |
| Volatility (ann.) | 25.3% | 29.8% |
| Beta vs S&P 500 | 0.58 | 0.72 |
| Max drawdown (3Y) | -28.9% | -35.8% |
| Market cap | – | – |
| P/E (trailing) | 5.0 | 4.3 |
| Dividend yield | 2.44% | 5.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | GSL |
|---|---|---|
| 2022 | -26.6% | -22.2% |
| 2023 | +47.5% | +29.0% |
| 2024 | +12.4% | +18.1% |
| 2025 | +20.0% | +73.5% |
| 2026 | +64.2% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and GSL good diversifiers for each other?
Only partially. A correlation of 0.76 means DAC and GSL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DAC and GSL?
The DAC/GSL correlation stands at 0.76 on a 3-year window (1 year: 0.78, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is GSL a good diversifier for DAC?
Only partially. A correlation of 0.76 means DAC and GSL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
A reading of 0.76 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-gsl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dac-vs-gsl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAC correlations · GSL correlations
