PSHG vs SDRL: Correlation
Measured on weekly returns over the past three years, Performance Shipping Inc. (PSHG) and Seadrill Limited (SDRL) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSHG and SDRL?
Over the past 3 years, PSHG and SDRL moved with a correlation of 0.32, which is moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.32). Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 555.9 %².
Among the 10 assets we track against PSHG, SDRL ranks #4 by 3-year correlation. The last year tells two different stories: SDRL led by 63.0 percentage points, -11.7% for PSHG against +51.3% for SDRL.
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.
PSHG vs SDRL: side by side
| PSHG (Performance Shipping Inc.) | SDRL (Seadrill Limited) | |
|---|---|---|
| 1-year return | -11.7% | +51.3% |
| 5-year return | -97.7% | n/a |
| Volatility (ann.) | 44.0% | 38.9% |
| Beta vs S&P 500 | 0.16 | 0.91 |
| Max drawdown (3Y) | -45.3% | -66.1% |
| Market cap | – | $3.0B |
| P/E (trailing) | 1.9 | 1612.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PSHG | SDRL |
|---|---|---|
| 2022 | -93.6% | – |
| 2023 | -35.9% | +44.9% |
| 2024 | -18.1% | -17.7% |
| 2025 | +14.5% | -11.1% |
| 2026 | -20.0% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSHG and SDRL good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PSHG and SDRL?
As of 2026-08-27, the correlation of weekly returns between PSHG and SDRL is 0.32 over 3 years, 0.16 over 1 year and 0.20 over 5 years.
Is SDRL a good diversifier for PSHG?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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/pshg-vs-sdrl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pshg-vs-sdrl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PSHG correlations · SDRL correlations
