EDRY vs SBLK: Correlation
EuroDry Ltd. (EDRY) and Star Bulk Carriers Corp. (SBLK) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDRY and SBLK?
On 3 years of weekly data the EDRY/SBLK correlation comes out at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 723.0 %².
SBLK is one of the assets that tracks EDRY most closely: it ranks #1 out of the 11 assets we track against EDRY. Correlation aside, the last 12 months split them widely, with EDRY ahead by 292.6 points (+364.7% versus +72.1%). Note the risk asymmetry: EDRY runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SBLK: side by side
| EDRY (EuroDry Ltd.) | SBLK (Star Bulk Carriers Corp.) | |
|---|---|---|
| 1-year return | +364.7% | +72.1% |
| 5-year return | +66.1% | +126.3% |
| Volatility (ann.) | 50.8% | 32.5% |
| Beta vs S&P 500 | 0.68 | 0.98 |
| Max drawdown (3Y) | -67.8% | -48.4% |
| Market cap | $0.1B | $3.4B |
| P/E (trailing) | 14.6 | 11.6 |
| Dividend yield | 0.00% | 6.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDRY | SBLK |
|---|---|---|
| 2022 | -9.7% | +8.5% |
| 2023 | +10.9% | +19.2% |
| 2024 | -41.2% | -21.0% |
| 2025 | +14.6% | +30.8% |
| 2026 | +284.5% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDRY and SBLK good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EDRY and SBLK?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.39 over the last year and 0.44 over 5 years.
Is SBLK a good diversifier for EDRY?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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-sblk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/edry-vs-sblk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EDRY correlations · SBLK correlations
