INSW vs NAT: Correlation
Measured on weekly returns over the past three years, International Seaways, Inc. (INSW) and Nordic American Tankers Limited (NAT) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INSW and NAT?
On 3 years of weekly data the INSW/NAT correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 1080.0 %².
Among the 21 assets we track against INSW, NAT ranks #5 by 3-year correlation. The trailing year gives INSW the advantage: +150.3% versus +137.6%, a 12.7-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.
INSW vs NAT: side by side
| INSW (International Seaways, Inc.) | NAT (Nordic American Tankers Limited) | |
|---|---|---|
| 1-year return | +150.3% | +137.6% |
| 5-year return | +861.9% | +351.2% |
| Volatility (ann.) | 36.8% | 36.0% |
| Beta vs S&P 500 | 0.50 | 0.30 |
| Max drawdown (3Y) | -50.4% | -46.3% |
| Market cap | $4.9B | – |
| P/E (trailing) | 6.0 | 25.0 |
| Dividend yield | 0.51% | 9.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INSW | NAT |
|---|---|---|
| 2022 | +162.5% | +87.9% |
| 2023 | +42.9% | +55.8% |
| 2024 | -10.9% | -33.6% |
| 2025 | +45.0% | +44.6% |
| 2026 | +123.1% | +111.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INSW and NAT good diversifiers for each other?
No. With a correlation of 0.81, INSW and NAT move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between INSW and NAT?
As of 2026-08-27, the correlation of weekly returns between INSW and NAT is 0.81 over 3 years, 0.78 over 1 year and 0.69 over 5 years.
Is NAT a good diversifier for INSW?
No. With a correlation of 0.81, INSW and NAT move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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/insw-vs-nat.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/insw-vs-nat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INSW correlations · NAT correlations
