GNK vs SB: Correlation
Measured on weekly returns over the past three years, Genco Shipping & Trading Limited (GNK) and Safe Bulkers, Inc (SB) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNK and SB?
Across a 3-year window, the weekly returns of GNK and SB correlate at 0.74, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.74 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 814.4 %².
In GNK's tracked universe of 13 assets, SB sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months SB outperformed by 37.2 percentage points (+63.6% for GNK 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.
GNK vs SB: side by side
| GNK (Genco Shipping & Trading Limited) | SB (Safe Bulkers, Inc) | |
|---|---|---|
| 1-year return | +63.6% | +100.8% |
| 5-year return | +93.4% | +151.1% |
| Volatility (ann.) | 33.1% | 33.0% |
| Beta vs S&P 500 | 0.98 | 0.88 |
| Max drawdown (3Y) | -47.1% | -49.7% |
| Market cap | $1.1B | $0.9B |
| P/E (trailing) | 28.4 | 10.9 |
| Dividend yield | 6.97% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNK | SB |
|---|---|---|
| 2022 | +11.4% | -18.7% |
| 2023 | +14.4% | +42.9% |
| 2024 | -8.9% | -5.1% |
| 2025 | +39.1% | +40.3% |
| 2026 | +49.9% | +79.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNK and SB good diversifiers for each other?
Only partially. A correlation of 0.74 means GNK 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 GNK and SB?
The GNK/SB correlation stands at 0.74 on a 3-year window (1 year: 0.70, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is SB a good diversifier for GNK?
Only partially. A correlation of 0.74 means GNK 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 0.74 mean?
A reading of 0.74 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gnk-vs-sb.json
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[](https://www.pairbook.io/pair/gnk-vs-sb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GNK correlations · SB correlations
