ESEA vs SB: Correlation
Euroseas Ltd. (ESEA) and Safe Bulkers, Inc (SB) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESEA and SB?
On 3 years of weekly data the ESEA/SB correlation comes out at 0.53, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.80 versus 0.53 over 3 years. The 5-year figure is 0.51, and annualized covariance runs at 790.8 %².
SB is one of the assets that tracks ESEA most closely: it ranks #3 out of the 10 assets we track against ESEA. The last year tells two different stories: SB led by 72.1 percentage points, +28.7% for ESEA 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.
ESEA vs SB: side by side
| ESEA (Euroseas Ltd.) | SB (Safe Bulkers, Inc) | |
|---|---|---|
| 1-year return | +28.7% | +100.8% |
| 5-year return | +417.1% | +151.1% |
| Volatility (ann.) | 45.2% | 33.0% |
| Beta vs S&P 500 | 0.96 | 0.88 |
| Max drawdown (3Y) | -38.0% | -49.7% |
| Market cap | $0.5B | $0.9B |
| P/E (trailing) | 3.8 | 10.9 |
| Dividend yield | 4.10% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESEA | SB |
|---|---|---|
| 2022 | -21.0% | -18.7% |
| 2023 | +83.4% | +42.9% |
| 2024 | +23.6% | -5.1% |
| 2025 | +96.0% | +40.3% |
| 2026 | +43.3% | +79.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESEA and SB good diversifiers for each other?
Only partially. A correlation of 0.53 means ESEA 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 ESEA and SB?
As of 2026-08-27, the correlation of weekly returns between ESEA and SB is 0.53 over 3 years, 0.80 over 1 year and 0.51 over 5 years.
Is SB a good diversifier for ESEA?
Only partially. A correlation of 0.53 means ESEA 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 0.53 mean?
On the −1 to +1 scale, 0.53 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/esea-vs-sb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/esea-vs-sb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESEA correlations · SB correlations
