DSX vs SB: Correlation
Measured on weekly returns over the past three years, Diana Shipping inc. (DSX) and Safe Bulkers, Inc (SB) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSX and SB?
On 3 years of weekly data the DSX/SB correlation comes out at 0.71, strong. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 912.7 %².
SB is one of the assets that tracks DSX most closely: it ranks #1 out of the 13 assets we track against DSX. The last year tells two different stories: SB led by 34.8 percentage points, +66.0% for DSX 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.
DSX vs SB: side by side
| DSX (Diana Shipping inc.) | SB (Safe Bulkers, Inc) | |
|---|---|---|
| 1-year return | +66.0% | +100.8% |
| 5-year return | -10.5% | +151.1% |
| Volatility (ann.) | 38.7% | 33.0% |
| Beta vs S&P 500 | 0.89 | 0.88 |
| Max drawdown (3Y) | -60.1% | -49.7% |
| Market cap | $0.3B | $0.9B |
| P/E (trailing) | 5.5 | 10.9 |
| Dividend yield | 1.50% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSX | SB |
|---|---|---|
| 2022 | +18.2% | -18.7% |
| 2023 | -15.0% | +42.9% |
| 2024 | -28.1% | -5.1% |
| 2025 | -13.7% | +40.3% |
| 2026 | +64.0% | +79.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSX and SB good diversifiers for each other?
Only partially. A correlation of 0.71 means DSX and SB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DSX and SB?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.72 over the last year and 0.71 over 5 years.
Is SB a good diversifier for DSX?
Only partially. A correlation of 0.71 means DSX and SB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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-sb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dsx-vs-sb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSX correlations · SB correlations
