NVGS vs SFL: Correlation
Measured on weekly returns over the past three years, Navigator Holdings Ltd. (NVGS) and SFL Corporation Ltd (SFL) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVGS and SFL?
Over the past 3 years, NVGS and SFL moved with a correlation of 0.70, which is strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.70 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 560.1 %².
SFL is one of the assets that tracks NVGS most closely: it ranks #3 out of the 15 assets we track against NVGS. The last year tells two different stories: SFL led by 17.9 percentage points, +37.5% for NVGS against +55.4% for SFL.
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.
NVGS vs SFL: side by side
| NVGS (Navigator Holdings Ltd.) | SFL (SFL Corporation Ltd) | |
|---|---|---|
| 1-year return | +37.5% | +55.4% |
| 5-year return | +159.5% | +130.7% |
| Volatility (ann.) | 28.8% | 28.0% |
| Beta vs S&P 500 | 0.68 | 0.53 |
| Max drawdown (3Y) | -38.9% | -46.4% |
| Market cap | $1.4B | $1.7B |
| P/E (trailing) | 9.9 | 25.2 |
| Dividend yield | 1.30% | 3.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVGS | SFL |
|---|---|---|
| 2022 | +34.8% | +23.5% |
| 2023 | +22.5% | +34.5% |
| 2024 | +6.8% | -0.8% |
| 2025 | +14.4% | -18.6% |
| 2026 | +28.1% | +64.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVGS and SFL good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NVGS and SFL?
As of 2026-08-27, the correlation of weekly returns between NVGS and SFL is 0.70 over 3 years, 0.76 over 1 year and 0.61 over 5 years.
Is SFL a good diversifier for NVGS?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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.
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Related comparisons
Hubs: NVGS correlations · SFL correlations
