HSHP vs SB: Correlation
Measured on weekly returns over the past three years, Himalaya Shipping Ltd. (HSHP) and Safe Bulkers, Inc (SB) 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 HSHP and SB?
Over the past 3 years, HSHP and SB moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.72 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1030.4 %².
Few assets follow HSHP as closely as SB, which ranks #2 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months HSHP outperformed by 31.8 percentage points (+132.6% for HSHP 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.
HSHP vs SB: side by side
| HSHP (Himalaya Shipping Ltd.) | SB (Safe Bulkers, Inc) | |
|---|---|---|
| 1-year return | +132.6% | +100.8% |
| 5-year return | n/a | +151.1% |
| Volatility (ann.) | 43.3% | 33.0% |
| Beta vs S&P 500 | 0.81 | 0.88 |
| Max drawdown (3Y) | -51.5% | -49.7% |
| Market cap | $0.8B | $0.9B |
| P/E (trailing) | 14.4 | 10.9 |
| Dividend yield | 0.00% | 1.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSHP | SB |
|---|---|---|
| 2022 | – | -18.7% |
| 2023 | – | +42.9% |
| 2024 | -23.5% | -5.1% |
| 2025 | +92.3% | +40.3% |
| 2026 | +94.7% | +79.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSHP and SB good diversifiers for each other?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HSHP and SB?
The HSHP/SB correlation stands at 0.72 on a 3-year window (1 year: 0.70, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SB a good diversifier for HSHP?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.72 mean?
A reading of 0.72 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/hshp-vs-sb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hshp-vs-sb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HSHP correlations · SB correlations
