FRO vs INSW: Correlation
Measured on weekly returns over the past three years, Frontline Plc (FRO) and International Seaways, Inc. (INSW) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRO and INSW?
On 3 years of weekly data the FRO/INSW correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 1373.2 %².
Few assets follow FRO as closely as INSW, which ranks #2 of 14 tracked partners. The last year tells two different stories: INSW led by 20.7 percentage points, +129.6% for FRO against +150.3% for INSW.
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.
FRO vs INSW: side by side
| FRO (Frontline Plc) | INSW (International Seaways, Inc.) | |
|---|---|---|
| 1-year return | +129.6% | +150.3% |
| 5-year return | +771.5% | +861.9% |
| Volatility (ann.) | 46.1% | 36.8% |
| Beta vs S&P 500 | 0.57 | 0.50 |
| Max drawdown (3Y) | -52.0% | -50.4% |
| Market cap | $9.7B | $4.9B |
| P/E (trailing) | 10.2 | 6.0 |
| Dividend yield | 7.60% | 0.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRO | INSW |
|---|---|---|
| 2022 | +73.7% | +162.5% |
| 2023 | +96.2% | +42.9% |
| 2024 | -22.5% | -10.9% |
| 2025 | +57.3% | +45.0% |
| 2026 | +115.9% | +123.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRO and INSW good diversifiers for each other?
No. With a correlation of 0.81, FRO and INSW move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FRO and INSW?
The FRO/INSW correlation stands at 0.81 on a 3-year window (1 year: 0.81, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is INSW a good diversifier for FRO?
No. With a correlation of 0.81, FRO and INSW move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 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/fro-vs-insw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fro-vs-insw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRO correlations · INSW correlations
