GNK vs PANL: Correlation
Genco Shipping & Trading Limited (GNK) and Pangaea Logistics Solutions Ltd. (PANL) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNK and PANL?
Over the past 3 years, GNK and PANL moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 758.2 %².
By 3-year correlation, PANL places #8 of the 13 assets tracked against GNK. On 12-month performance GNK holds a 13.9-point edge, +63.6% against +49.7%.
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 PANL: side by side
| GNK (Genco Shipping & Trading Limited) | PANL (Pangaea Logistics Solutions Ltd.) | |
|---|---|---|
| 1-year return | +63.6% | +49.7% |
| 5-year return | +93.4% | +109.8% |
| Volatility (ann.) | 33.1% | 42.2% |
| Beta vs S&P 500 | 0.98 | 0.96 |
| Max drawdown (3Y) | -47.1% | -54.8% |
| Market cap | $1.1B | $0.5B |
| P/E (trailing) | 28.4 | 10.8 |
| Dividend yield | 6.97% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNK | PANL |
|---|---|---|
| 2022 | +11.4% | +44.2% |
| 2023 | +14.4% | +70.6% |
| 2024 | -8.9% | -31.1% |
| 2025 | +39.1% | +34.6% |
| 2026 | +49.9% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNK and PANL good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GNK and PANL?
The GNK/PANL correlation stands at 0.54 on a 3-year window (1 year: 0.52, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is PANL a good diversifier for GNK?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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-panl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnk-vs-panl/)
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Related comparisons
Hubs: GNK correlations · PANL correlations
