GNK vs SHIP: Correlation
Measured on weekly returns over the past three years, Genco Shipping & Trading Limited (GNK) and Seanergy Maritime Holdings Corp. (SHIP) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNK and SHIP?
On 3 years of weekly data the GNK/SHIP correlation comes out at 0.63, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.63 over 3. The 5-year figure is 0.62, and annualized covariance runs at 970.6 %².
By 3-year correlation, SHIP places #5 of the 13 assets tracked against GNK. Their recent paths diverged sharply: over the last 12 months SHIP outperformed by 68.8 percentage points (+63.6% for GNK against +132.4% for SHIP).
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 SHIP: side by side
| GNK (Genco Shipping & Trading Limited) | SHIP (Seanergy Maritime Holdings Corp.) | |
|---|---|---|
| 1-year return | +63.6% | +132.4% |
| 5-year return | +93.4% | +91.7% |
| Volatility (ann.) | 33.1% | 46.6% |
| Beta vs S&P 500 | 0.98 | 1.11 |
| Max drawdown (3Y) | -47.1% | -57.5% |
| Market cap | $1.1B | $0.4B |
| P/E (trailing) | 28.4 | 6.1 |
| Dividend yield | 6.97% | 5.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNK | SHIP |
|---|---|---|
| 2022 | +11.4% | -36.1% |
| 2023 | +14.4% | +59.6% |
| 2024 | -8.9% | -3.6% |
| 2025 | +39.1% | +38.5% |
| 2026 | +49.9% | +97.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNK and SHIP good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GNK and SHIP?
The GNK/SHIP correlation stands at 0.63 on a 3-year window (1 year: 0.69, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is SHIP a good diversifier for GNK?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/gnk-vs-ship.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gnk-vs-ship/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GNK correlations · SHIP correlations
