PXS vs TRMD: Correlation
Measured on weekly returns over the past three years, Pyxis Tankers Inc. (PXS) and TORM plc (TRMD) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PXS and TRMD?
Across a 3-year window, the weekly returns of PXS and TRMD correlate at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.58). Stretching to 5 years gives 0.43, with an annualized covariance of 874.5 %².
Among the 11 assets we track against PXS, TRMD ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PXS ahead by 38.6 points (+100.0% versus +61.4%).
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.
PXS vs TRMD: side by side
| PXS (Pyxis Tankers Inc.) | TRMD (TORM plc) | |
|---|---|---|
| 1-year return | +100.0% | +61.4% |
| 5-year return | +92.9% | +679.6% |
| Volatility (ann.) | 37.9% | 39.6% |
| Beta vs S&P 500 | 0.42 | 0.60 |
| Max drawdown (3Y) | -54.5% | -60.6% |
| Market cap | $0.1B | $3.3B |
| P/E (trailing) | 15.4 | 5.2 |
| Dividend yield | 0.00% | 7.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PXS | TRMD |
|---|---|---|
| 2022 | +151.0% | +297.7% |
| 2023 | -13.5% | +31.6% |
| 2024 | -5.8% | -23.5% |
| 2025 | -28.5% | +11.3% |
| 2026 | +92.2% | +70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PXS and TRMD good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PXS and TRMD?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.37 over the last year and 0.43 over 5 years.
Is TRMD a good diversifier for PXS?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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: PXS correlations · TRMD correlations
