EDRY vs PXS: Correlation
EuroDry Ltd. (EDRY) and Pyxis Tankers Inc. (PXS) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDRY and PXS?
Over the past 3 years, EDRY and PXS moved with a correlation of 0.43, which is moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.43 over 3. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 824.2 %².
In EDRY's tracked universe of 11 assets, PXS sits right near the top at #3. Correlation aside, the last 12 months split them widely, with EDRY ahead by 264.7 points (+364.7% versus +100.0%).
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.
EDRY vs PXS: side by side
| EDRY (EuroDry Ltd.) | PXS (Pyxis Tankers Inc.) | |
|---|---|---|
| 1-year return | +364.7% | +100.0% |
| 5-year return | +66.1% | +92.9% |
| Volatility (ann.) | 50.8% | 37.9% |
| Beta vs S&P 500 | 0.68 | 0.42 |
| Max drawdown (3Y) | -67.8% | -54.5% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 14.6 | 15.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDRY | PXS |
|---|---|---|
| 2022 | -9.7% | +151.0% |
| 2023 | +10.9% | -13.5% |
| 2024 | -41.2% | -5.8% |
| 2025 | +14.6% | -28.5% |
| 2026 | +284.5% | +92.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDRY and PXS good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EDRY and PXS?
The EDRY/PXS correlation stands at 0.43 on a 3-year window (1 year: 0.38, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is PXS a good diversifier for EDRY?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/edry-vs-pxs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/edry-vs-pxs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EDRY correlations · PXS correlations
