DSX vs GMM: Correlation
How closely do Diana Shipping inc. (DSX) and Global Mofy AI Limited - Class A (GMM) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSX and GMM?
Over the past 3 years, DSX and GMM moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.15) runs above the 3-year figure (-0.24). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -10450.5 %².
GMM is close to the least connected end of DSX's tracked universe, ranking #11 of 13. Correlation aside, the last 12 months split them widely, with DSX ahead by 163.5 points (+66.0% versus -97.5%). Risk is not evenly split, since GMM carries 28.4 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.
DSX vs GMM: side by side
| DSX (Diana Shipping inc.) | GMM (Global Mofy AI Limited - Class A) | |
|---|---|---|
| 1-year return | +66.0% | -97.5% |
| 5-year return | -10.5% | n/a |
| Volatility (ann.) | 38.7% | 1098.3% |
| Beta vs S&P 500 | 0.89 | 2.95 |
| Max drawdown (3Y) | -60.1% | -99.7% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 1.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSX | GMM |
|---|---|---|
| 2022 | +18.2% | – |
| 2023 | -15.0% | – |
| 2024 | -28.1% | -30.5% |
| 2025 | -13.7% | -69.6% |
| 2026 | +64.0% | -95.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSX and GMM good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between DSX and GMM?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with 0.15 over the last year and n/a over 5 years.
Is GMM a good diversifier for DSX?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DSX correlations · GMM correlations
