SMHI vs TDW: Correlation
Measured on weekly returns over the past three years, SEACOR Marine Holdings Inc. (SMHI) and Tidewater Inc. (TDW) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMHI and TDW?
Across a 3-year window, the weekly returns of SMHI and TDW correlate at 0.65, strong. The past 12 months show a weaker link (0.41) than the 3-year average (0.65). Stretching to 5 years gives 0.57, with an annualized covariance of 1648.4 %².
Few assets follow SMHI as closely as TDW, which ranks #1 of 12 tracked partners. The trailing year gives TDW the advantage: +47.2% versus +53.2%, a 6.0-point spread.
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.
SMHI vs TDW: side by side
| SMHI (SEACOR Marine Holdings Inc.) | TDW (Tidewater Inc.) | |
|---|---|---|
| 1-year return | +47.2% | +53.2% |
| 5-year return | +119.6% | +724.8% |
| Volatility (ann.) | 54.8% | 46.4% |
| Beta vs S&P 500 | 1.41 | 0.92 |
| Max drawdown (3Y) | -74.3% | -70.3% |
| Market cap | $0.3B | $4.6B |
| P/E (trailing) | – | 18.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMHI | TDW |
|---|---|---|
| 2022 | +169.4% | +244.1% |
| 2023 | +37.4% | +95.7% |
| 2024 | -47.9% | -24.1% |
| 2025 | -8.2% | -7.7% |
| 2026 | +58.0% | +84.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMHI and TDW good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SMHI and TDW?
As of 2026-08-27, the correlation of weekly returns between SMHI and TDW is 0.65 over 3 years, 0.41 over 1 year and 0.57 over 5 years.
Is TDW a good diversifier for SMHI?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: SMHI correlations · TDW correlations
