DSX vs GSL: Correlation
Measured on weekly returns over the past three years, Diana Shipping inc. (DSX) and Global Ship Lease Inc New Class A (GSL) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSX and GSL?
Across a 3-year window, the weekly returns of DSX and GSL correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 708.8 %².
By 3-year correlation, GSL places #4 of the 13 assets tracked against DSX. The trailing year gives DSX the advantage: +66.0% versus +60.1%, a 5.9-point spread.
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 GSL: side by side
| DSX (Diana Shipping inc.) | GSL (Global Ship Lease Inc New Class A) | |
|---|---|---|
| 1-year return | +66.0% | +60.1% |
| 5-year return | -10.5% | +211.3% |
| Volatility (ann.) | 38.7% | 29.8% |
| Beta vs S&P 500 | 0.89 | 0.72 |
| Max drawdown (3Y) | -60.1% | -35.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.5 | 4.3 |
| Dividend yield | 1.50% | 5.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSX | GSL |
|---|---|---|
| 2022 | +18.2% | -22.2% |
| 2023 | -15.0% | +29.0% |
| 2024 | -28.1% | +18.1% |
| 2025 | -13.7% | +73.5% |
| 2026 | +64.0% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSX and GSL good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DSX and GSL?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.63 over the last year and 0.57 over 5 years.
Is GSL a good diversifier for DSX?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/dsx-vs-gsl.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSX correlations · GSL correlations
