PANL vs SBLK: Correlation
How closely do Pangaea Logistics Solutions Ltd. (PANL) and Star Bulk Carriers Corp. (SBLK) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PANL and SBLK?
Over the past 3 years, PANL and SBLK moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 748.6 %².
Few assets follow PANL as closely as SBLK, which ranks #1 of 11 tracked partners. The last year tells two different stories: SBLK led by 22.4 percentage points, +49.7% for PANL against +72.1% for SBLK.
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.
PANL vs SBLK: side by side
| PANL (Pangaea Logistics Solutions Ltd.) | SBLK (Star Bulk Carriers Corp.) | |
|---|---|---|
| 1-year return | +49.7% | +72.1% |
| 5-year return | +109.8% | +126.3% |
| Volatility (ann.) | 42.2% | 32.5% |
| Beta vs S&P 500 | 0.96 | 0.98 |
| Max drawdown (3Y) | -54.8% | -48.4% |
| Market cap | $0.5B | $3.4B |
| P/E (trailing) | 10.8 | 11.6 |
| Dividend yield | 2.53% | 6.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PANL | SBLK |
|---|---|---|
| 2022 | +44.2% | +8.5% |
| 2023 | +70.6% | +19.2% |
| 2024 | -31.1% | -21.0% |
| 2025 | +34.6% | +30.8% |
| 2026 | +16.2% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PANL and SBLK good diversifiers for each other?
Only partially. A correlation of 0.55 means PANL and SBLK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PANL and SBLK?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.53 over the last year and 0.52 over 5 years.
Is SBLK a good diversifier for PANL?
Only partially. A correlation of 0.55 means PANL and SBLK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/panl-vs-sblk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/panl-vs-sblk/)
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Related comparisons
Hubs: PANL correlations · SBLK correlations
