DHT vs EDRY: Correlation
Measured on weekly returns over the past three years, DHT Holdings, Inc. (DHT) and EuroDry Ltd. (EDRY) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHT and EDRY?
Across a 3-year window, the weekly returns of DHT and EDRY correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.29, with an annualized covariance of 723.1 %².
Within DHT's tracked universe of 12 assets, EDRY comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EDRY ahead by 275.0 points (+89.7% versus +364.7%). Risk is not evenly split, since EDRY carries 1.5 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.
DHT vs EDRY: side by side
| DHT (DHT Holdings, Inc.) | EDRY (EuroDry Ltd.) | |
|---|---|---|
| 1-year return | +89.7% | +364.7% |
| 5-year return | +422.1% | +66.1% |
| Volatility (ann.) | 33.2% | 50.8% |
| Beta vs S&P 500 | 0.29 | 0.68 |
| Max drawdown (3Y) | -25.0% | -67.8% |
| Market cap | $3.1B | $0.1B |
| P/E (trailing) | 6.6 | 14.6 |
| Dividend yield | 13.37% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHT | EDRY |
|---|---|---|
| 2022 | +73.9% | -9.7% |
| 2023 | +24.1% | +10.9% |
| 2024 | +3.6% | -41.2% |
| 2025 | +35.2% | +14.6% |
| 2026 | +79.6% | +284.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHT and EDRY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DHT and EDRY?
As of 2026-08-27, the correlation of weekly returns between DHT and EDRY is 0.43 over 3 years, 0.49 over 1 year and 0.29 over 5 years.
Is EDRY a good diversifier for DHT?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/dht-vs-edry.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dht-vs-edry/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHT correlations · EDRY correlations
