HSHP vs SHIP: Correlation
Himalaya Shipping Ltd. (HSHP) and Seanergy Maritime Holdings Corp. (SHIP) 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 HSHP and SHIP?
Across a 3-year window, the weekly returns of HSHP and SHIP correlate at 0.68, strong. The link has tightened recently: the 1-year correlation (0.80) runs above the 3-year figure (0.68). Stretching to 5 years gives n/a, with an annualized covariance of 1369.9 %².
Among the 12 assets we track against HSHP, SHIP ranks #4 by 3-year correlation. Neither side won the trailing year by much: +132.6% against +132.4%.
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 SHIP: side by side
| HSHP (Himalaya Shipping Ltd.) | SHIP (Seanergy Maritime Holdings Corp.) | |
|---|---|---|
| 1-year return | +132.6% | +132.4% |
| 5-year return | n/a | +91.7% |
| Volatility (ann.) | 43.3% | 46.6% |
| Beta vs S&P 500 | 0.81 | 1.11 |
| Max drawdown (3Y) | -51.5% | -57.5% |
| Market cap | $0.8B | $0.4B |
| P/E (trailing) | 14.4 | 6.1 |
| Dividend yield | 0.00% | 5.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HSHP | SHIP |
|---|---|---|
| 2022 | – | -36.1% |
| 2023 | – | +59.6% |
| 2024 | -23.5% | -3.6% |
| 2025 | +92.3% | +38.5% |
| 2026 | +94.7% | +97.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSHP and SHIP 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 HSHP and SHIP?
The HSHP/SHIP correlation stands at 0.68 on a 3-year window (1 year: 0.80, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SHIP a good diversifier for HSHP?
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/hshp-vs-ship.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HSHP correlations · SHIP correlations
