GNK vs HSHP: Correlation
Measured on weekly returns over the past three years, Genco Shipping & Trading Limited (GNK) and Himalaya Shipping Ltd. (HSHP) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNK and HSHP?
Over the past 3 years, GNK and HSHP moved with a correlation of 0.72, which is strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1027.0 %².
HSHP is one of the assets that tracks GNK most closely: it ranks #3 out of the 13 assets we track against GNK. Their recent paths diverged sharply: over the last 12 months HSHP outperformed by 69.0 percentage points (+63.6% for GNK against +132.6% for HSHP).
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.
GNK vs HSHP: side by side
| GNK (Genco Shipping & Trading Limited) | HSHP (Himalaya Shipping Ltd.) | |
|---|---|---|
| 1-year return | +63.6% | +132.6% |
| 5-year return | +93.4% | n/a |
| Volatility (ann.) | 33.1% | 43.3% |
| Beta vs S&P 500 | 0.98 | 0.81 |
| Max drawdown (3Y) | -47.1% | -51.5% |
| Market cap | $1.1B | $0.8B |
| P/E (trailing) | 28.4 | 14.4 |
| Dividend yield | 6.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNK | HSHP |
|---|---|---|
| 2022 | +11.4% | – |
| 2023 | +14.4% | – |
| 2024 | -8.9% | -23.5% |
| 2025 | +39.1% | +92.3% |
| 2026 | +49.9% | +94.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNK and HSHP good diversifiers for each other?
Only partially. A correlation of 0.72 means GNK and HSHP 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 GNK and HSHP?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.75 over the last year and n/a over 5 years.
Is HSHP a good diversifier for GNK?
Only partially. A correlation of 0.72 means GNK and HSHP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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/gnk-vs-hshp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnk-vs-hshp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GNK correlations · HSHP correlations
