NVGS vs TRMD: Correlation
Measured on weekly returns over the past three years, Navigator Holdings Ltd. (NVGS) and TORM plc (TRMD) 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 TRMD?
On 3 years of weekly data the NVGS/TRMD correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 800.5 %².
Within NVGS's tracked universe of 15 assets, TRMD comes in at #5 by 3-year correlation. The last year tells two different stories: TRMD led by 23.9 percentage points, +37.5% for NVGS against +61.4% for TRMD.
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 TRMD: side by side
| NVGS (Navigator Holdings Ltd.) | TRMD (TORM plc) | |
|---|---|---|
| 1-year return | +37.5% | +61.4% |
| 5-year return | +159.5% | +679.6% |
| Volatility (ann.) | 28.8% | 39.6% |
| Beta vs S&P 500 | 0.68 | 0.60 |
| Max drawdown (3Y) | -38.9% | -60.6% |
| Market cap | $1.4B | $3.3B |
| P/E (trailing) | 9.9 | 5.2 |
| Dividend yield | 1.30% | 7.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVGS | TRMD |
|---|---|---|
| 2022 | +34.8% | +297.7% |
| 2023 | +22.5% | +31.6% |
| 2024 | +6.8% | -23.5% |
| 2025 | +14.4% | +11.3% |
| 2026 | +28.1% | +70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVGS and TRMD 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 TRMD?
As of 2026-08-27, the correlation of weekly returns between NVGS and TRMD is 0.70 over 3 years, 0.75 over 1 year and 0.48 over 5 years.
Is TRMD 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?
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
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Related comparisons
Hubs: NVGS correlations · TRMD correlations
