DAC vs HSHP: Correlation
Danaos Corporation (DAC) and Himalaya Shipping Ltd. (HSHP) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and HSHP?
Over the past 3 years, DAC and HSHP moved with a correlation of 0.61, which is strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 674.4 %².
By 3-year correlation, HSHP places #7 of the 15 assets tracked against DAC. Correlation aside, the last 12 months split them widely, with HSHP ahead by 64.6 points (+68.0% versus +132.6%). Risk is not evenly split, since HSHP carries 1.7 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 HSHP: side by side
| DAC (Danaos Corporation) | HSHP (Himalaya Shipping Ltd.) | |
|---|---|---|
| 1-year return | +68.0% | +132.6% |
| 5-year return | +112.7% | n/a |
| Volatility (ann.) | 25.3% | 43.3% |
| Beta vs S&P 500 | 0.58 | 0.81 |
| Max drawdown (3Y) | -28.9% | -51.5% |
| Market cap | – | $0.8B |
| P/E (trailing) | 5.0 | 14.4 |
| Dividend yield | 2.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | HSHP |
|---|---|---|
| 2022 | -26.6% | – |
| 2023 | +47.5% | – |
| 2024 | +12.4% | -23.5% |
| 2025 | +20.0% | +92.3% |
| 2026 | +64.2% | +94.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and HSHP good diversifiers for each other?
Only partially. A correlation of 0.61 means DAC and HSHP 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 HSHP?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.67 over the last year and n/a over 5 years.
Is HSHP a good diversifier for DAC?
Only partially. A correlation of 0.61 means DAC and HSHP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dac-vs-hshp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dac-vs-hshp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DAC correlations · HSHP correlations
