DAC vs SB: Correlation
Danaos Corporation (DAC) and Safe Bulkers, Inc (SB) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and SB?
Across a 3-year window, the weekly returns of DAC and SB correlate at 0.71, strong. Lately the two have moved closer together, with the 1-year correlation at 0.83 versus 0.71 over 3 years. Stretching to 5 years gives 0.61, with an annualized covariance of 593.9 %².
In DAC's tracked universe of 15 assets, SB sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months SB outperformed by 32.8 percentage points (+68.0% for DAC against +100.8% for SB).
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 SB: side by side
| DAC (Danaos Corporation) | SB (Safe Bulkers, Inc) | |
|---|---|---|
| 1-year return | +68.0% | +100.8% |
| 5-year return | +112.7% | +151.1% |
| Volatility (ann.) | 25.3% | 33.0% |
| Beta vs S&P 500 | 0.58 | 0.88 |
| Max drawdown (3Y) | -28.9% | -49.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | 5.0 | 10.9 |
| Dividend yield | 2.44% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | SB |
|---|---|---|
| 2022 | -26.6% | -18.7% |
| 2023 | +47.5% | +42.9% |
| 2024 | +12.4% | -5.1% |
| 2025 | +20.0% | +40.3% |
| 2026 | +64.2% | +79.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and SB good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DAC and SB?
The DAC/SB correlation stands at 0.71 on a 3-year window (1 year: 0.83, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SB a good diversifier for DAC?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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-sb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dac-vs-sb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAC correlations · SB correlations
