LPG vs NVGS: Correlation
Dorian LPG Ltd. (LPG) and Navigator Holdings Ltd. (NVGS) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LPG and NVGS?
Across a 3-year window, the weekly returns of LPG and NVGS correlate at 0.66, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.66 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 893.8 %².
By 3-year correlation, NVGS places #5 of the 11 assets tracked against LPG. The last year tells two different stories: LPG led by 30.8 percentage points, +68.3% for LPG against +37.5% for NVGS. Risk is not evenly split, since LPG carries 1.6 times the volatility of the other side.
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.
LPG vs NVGS: side by side
| LPG (Dorian LPG Ltd.) | NVGS (Navigator Holdings Ltd.) | |
|---|---|---|
| 1-year return | +68.3% | +37.5% |
| 5-year return | +725.0% | +159.5% |
| Volatility (ann.) | 47.1% | 28.8% |
| Beta vs S&P 500 | 0.96 | 0.68 |
| Max drawdown (3Y) | -62.9% | -38.9% |
| Market cap | $2.1B | $1.4B |
| P/E (trailing) | 6.4 | 9.9 |
| Dividend yield | 6.99% | 1.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LPG | NVGS |
|---|---|---|
| 2022 | +109.6% | +34.8% |
| 2023 | +171.4% | +22.5% |
| 2024 | -37.8% | +6.8% |
| 2025 | +9.8% | +14.4% |
| 2026 | +116.9% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LPG and NVGS good diversifiers for each other?
To a limited degree. At 0.66 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 LPG and NVGS?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.63 over the last year and 0.57 over 5 years.
Is NVGS a good diversifier for LPG?
To a limited degree. At 0.66 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 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lpg-vs-nvgs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lpg-vs-nvgs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LPG correlations · NVGS correlations
