HSHP vs SBLK: Correlation
How closely do Himalaya Shipping Ltd. (HSHP) and Star Bulk Carriers Corp. (SBLK) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSHP and SBLK?
Across a 3-year window, the weekly returns of HSHP and SBLK correlate at 0.68, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 960.1 %².
SBLK is one of the assets that tracks HSHP most closely: it ranks #3 out of the 12 assets we track against HSHP. Their recent paths diverged sharply: over the last 12 months HSHP outperformed by 60.5 percentage points (+132.6% for HSHP against +72.1% for SBLK).
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 SBLK: side by side
| HSHP (Himalaya Shipping Ltd.) | SBLK (Star Bulk Carriers Corp.) | |
|---|---|---|
| 1-year return | +132.6% | +72.1% |
| 5-year return | n/a | +126.3% |
| Volatility (ann.) | 43.3% | 32.5% |
| Beta vs S&P 500 | 0.81 | 0.98 |
| Max drawdown (3Y) | -51.5% | -48.4% |
| Market cap | $0.8B | $3.4B |
| P/E (trailing) | 14.4 | 11.6 |
| Dividend yield | 0.00% | 6.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSHP | SBLK |
|---|---|---|
| 2022 | – | +8.5% |
| 2023 | – | +19.2% |
| 2024 | -23.5% | -21.0% |
| 2025 | +92.3% | +30.8% |
| 2026 | +94.7% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSHP and SBLK good diversifiers for each other?
Only partially. A correlation of 0.68 means HSHP and SBLK 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 HSHP and SBLK?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.72 over the last year and n/a over 5 years.
Is SBLK a good diversifier for HSHP?
Only partially. A correlation of 0.68 means HSHP and SBLK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 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
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Related comparisons
Hubs: HSHP correlations · SBLK correlations
