SB vs SHIP: Correlation
Measured on weekly returns over the past three years, Safe Bulkers, Inc (SB) and Seanergy Maritime Holdings Corp. (SHIP) 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 SB and SHIP?
On 3 years of weekly data the SB/SHIP correlation comes out at 0.70, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 1071.3 %².
By 3-year correlation, SHIP places #6 of the 15 assets tracked against SB. Their recent paths diverged sharply: over the last 12 months SHIP outperformed by 31.6 percentage points (+100.8% for SB against +132.4% for SHIP).
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.
SB vs SHIP: side by side
| SB (Safe Bulkers, Inc) | SHIP (Seanergy Maritime Holdings Corp.) | |
|---|---|---|
| 1-year return | +100.8% | +132.4% |
| 5-year return | +151.1% | +91.7% |
| Volatility (ann.) | 33.0% | 46.6% |
| Beta vs S&P 500 | 0.88 | 1.11 |
| Max drawdown (3Y) | -49.7% | -57.5% |
| Market cap | $0.9B | $0.4B |
| P/E (trailing) | 10.9 | 6.1 |
| Dividend yield | 1.21% | 5.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SB | SHIP |
|---|---|---|
| 2022 | -18.7% | -36.1% |
| 2023 | +42.9% | +59.6% |
| 2024 | -5.1% | -3.6% |
| 2025 | +40.3% | +38.5% |
| 2026 | +79.5% | +97.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SB and SHIP good diversifiers for each other?
Only partially. A correlation of 0.70 means SB and SHIP 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 SB and SHIP?
As of 2026-08-27, the correlation of weekly returns between SB and SHIP is 0.70 over 3 years, 0.74 over 1 year and 0.66 over 5 years.
Is SHIP a good diversifier for SB?
Only partially. A correlation of 0.70 means SB and SHIP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sb-vs-ship.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sb-vs-ship/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SB correlations · SHIP correlations
