MSLE vs PANL: Correlation
Satellos Bioscience Inc. (MSLE) and Pangaea Logistics Solutions Ltd. (PANL) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSLE and PANL?
On 3 years of weekly data the MSLE/PANL correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.34 over 3. The 5-year figure is 0.05, and annualized covariance runs at 1148.2 %².
In MSLE's tracked universe of 10 assets, PANL sits right near the top at #1. The last year tells two different stories: MSLE led by 32.3 percentage points, +82.0% for MSLE against +49.7% for PANL. Risk is not evenly split, since MSLE carries 1.9 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.
MSLE vs PANL: side by side
| MSLE (Satellos Bioscience Inc.) | PANL (Pangaea Logistics Solutions Ltd.) | |
|---|---|---|
| 1-year return | +82.0% | +49.7% |
| 5-year return | -36.4% | +109.8% |
| Volatility (ann.) | 80.3% | 42.2% |
| Beta vs S&P 500 | 0.86 | 0.96 |
| Max drawdown (3Y) | -57.0% | -54.8% |
| Market cap | $0.2B | $0.5B |
| P/E (trailing) | – | 10.8 |
| Dividend yield | 0.00% | 2.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSLE | PANL |
|---|---|---|
| 2022 | -78.8% | +44.2% |
| 2023 | +89.0% | +70.6% |
| 2024 | +81.5% | -31.1% |
| 2025 | -16.9% | +34.6% |
| 2026 | +63.4% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSLE and PANL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MSLE and PANL?
The MSLE/PANL correlation stands at 0.34 on a 3-year window (1 year: 0.39, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is PANL a good diversifier for MSLE?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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/msle-vs-panl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msle-vs-panl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MSLE correlations · PANL correlations
