PSHG vs TDW: Correlation
How closely do Performance Shipping Inc. (PSHG) and Tidewater Inc. (TDW) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSHG and TDW?
Over the past 3 years, PSHG and TDW moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Over 5 years the correlation is 0.20, and the annualized covariance of weekly returns is 723.1 %².
In PSHG's tracked universe of 10 assets, TDW sits right near the top at #2. The last year tells two different stories: TDW led by 64.9 percentage points, -11.7% for PSHG against +53.2% for TDW.
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 TDW: side by side
| PSHG (Performance Shipping Inc.) | TDW (Tidewater Inc.) | |
|---|---|---|
| 1-year return | -11.7% | +53.2% |
| 5-year return | -97.7% | +724.8% |
| Volatility (ann.) | 44.0% | 46.4% |
| Beta vs S&P 500 | 0.16 | 0.92 |
| Max drawdown (3Y) | -45.3% | -70.3% |
| Market cap | – | $4.6B |
| P/E (trailing) | 1.9 | 18.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PSHG | TDW |
|---|---|---|
| 2022 | -93.6% | +244.1% |
| 2023 | -35.9% | +95.7% |
| 2024 | -18.1% | -24.1% |
| 2025 | +14.5% | -7.7% |
| 2026 | -20.0% | +84.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSHG and TDW good diversifiers for each other?
Reasonably. At 0.35, PSHG and TDW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PSHG and TDW?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.39 over the last year and 0.20 over 5 years.
Is TDW a good diversifier for PSHG?
Reasonably. At 0.35, PSHG and TDW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PSHG correlations · TDW correlations
