GSL vs SBLK: Correlation
Global Ship Lease Inc New Class A (GSL) and Star Bulk Carriers Corp. (SBLK) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSL and SBLK?
Over the past 3 years, GSL and SBLK moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.78 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 661.8 %².
By 3-year correlation, SBLK places #4 of the 14 assets tracked against GSL. The trailing year gives SBLK the advantage: +60.1% versus +72.1%, a 12.0-point spread.
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.
GSL vs SBLK: side by side
| GSL (Global Ship Lease Inc New Class A) | SBLK (Star Bulk Carriers Corp.) | |
|---|---|---|
| 1-year return | +60.1% | +72.1% |
| 5-year return | +211.3% | +126.3% |
| Volatility (ann.) | 29.8% | 32.5% |
| Beta vs S&P 500 | 0.72 | 0.98 |
| Max drawdown (3Y) | -35.8% | -48.4% |
| Market cap | – | $3.4B |
| P/E (trailing) | 4.3 | 11.6 |
| Dividend yield | 5.66% | 6.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSL | SBLK |
|---|---|---|
| 2022 | -22.2% | +8.5% |
| 2023 | +29.0% | +19.2% |
| 2024 | +18.1% | -21.0% |
| 2025 | +73.5% | +30.8% |
| 2026 | +34.4% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSL and SBLK good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GSL and SBLK?
As of 2026-08-27, the correlation of weekly returns between GSL and SBLK is 0.68 over 3 years, 0.78 over 1 year and 0.59 over 5 years.
Is SBLK a good diversifier for GSL?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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/gsl-vs-sblk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gsl-vs-sblk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GSL correlations · SBLK correlations
