DHT vs FRO: Correlation
DHT Holdings, Inc. (DHT) and Frontline Plc (FRO) show a very strong relationship: their 3-year correlation of weekly returns is 0.86.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHT and FRO?
On 3 years of weekly data the DHT/FRO correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.86 over 3. The 5-year figure is 0.81, and annualized covariance runs at 1321.9 %².
In DHT's tracked universe of 12 assets, FRO sits right near the top at #1. Correlation aside, the last 12 months split them widely, with FRO ahead by 39.9 points (+89.7% versus +129.6%).
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 FRO: side by side
| DHT (DHT Holdings, Inc.) | FRO (Frontline Plc) | |
|---|---|---|
| 1-year return | +89.7% | +129.6% |
| 5-year return | +422.1% | +771.5% |
| Volatility (ann.) | 33.2% | 46.1% |
| Beta vs S&P 500 | 0.29 | 0.57 |
| Max drawdown (3Y) | -25.0% | -52.0% |
| Market cap | $3.1B | $9.7B |
| P/E (trailing) | 6.6 | 10.2 |
| Dividend yield | 13.37% | 7.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHT | FRO |
|---|---|---|
| 2022 | +73.9% | +73.7% |
| 2023 | +24.1% | +96.2% |
| 2024 | +3.6% | -22.5% |
| 2025 | +35.2% | +57.3% |
| 2026 | +79.6% | +115.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHT and FRO good diversifiers for each other?
No. With a correlation of 0.86, DHT and FRO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between DHT and FRO?
As of 2026-08-27, the correlation of weekly returns between DHT and FRO is 0.86 over 3 years, 0.84 over 1 year and 0.81 over 5 years.
Is FRO a good diversifier for DHT?
No. With a correlation of 0.86, DHT and FRO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
A reading of 0.86 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/dht-vs-fro.json
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[](https://www.pairbook.io/pair/dht-vs-fro/)
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Related comparisons
Hubs: DHT correlations · FRO correlations
