SB vs. DSX

Last updated Jun 3, 2026

SB (Safe Bulkers, Inc.) and DSX (Diana Shipping Inc.) are both stocks. Both operate in the Marine Shipping industry within the Industrials sector. Over the past 10 years, SB returned 22.32%/yr vs 5.97%/yr for DSX. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

SB vs. DSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Safe Bulkers, Inc. (SB) and Diana Shipping Inc. (DSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SB achieves a 35.05% return, which is significantly lower than DSX's 44.57% return. Over the past 10 years, SB has outperformed DSX with an annualized return of 22.32%, while DSX has yielded a comparatively lower 5.97% annualized return.

SB

• 1D: -2.42%
• 1M: -3.15%
• YTD: 35.05%
• 6M: 24.70%
• 1Y: 78.26%
• 3Y*: 29.01%
• 5Y*: 16.72%
• 10Y*: 22.32%

DSX

• 1D: -2.05%
• 1M: -6.64%
• YTD: 44.57%
• 6M: 28.32%
• 1Y: 51.73%
• 3Y*: -8.18%
• 5Y*: -1.61%
• 10Y*: 5.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SB vs. DSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SB Safe Bulkers, Inc.	35.05%	41.65%	-5.15%	42.94%	-18.68%	190.00%	-23.53%	-4.49%	-44.89%	180.87%
DSX Diana Shipping Inc.	44.57%	-13.29%	-28.12%	-11.15%	18.18%	134.77%	-37.94%	-2.20%	-21.87%	34.77%

Correlation

The correlation between SB and DSX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jun 2, 2008	0.54

The correlation between SB and DSX shifts across timeframes, from 0.54 (10 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SB : $661.03M DSX : $268.31M
EPS SB : $0.38 DSX : $0.39
PE Ratio SB : 17.15 DSX : 6.06
PS Ratio SB : 2.40 DSX : 1.25
PB Ratio SB : 0.80 DSX : 0.51
Total Revenue (TTM) SB : $275.74M DSX : $213.34M
Gross Profit (TTM) SB : $99.06M DSX : $85.80M
EBITDA (TTM) SB : $134.68M DSX : $103.02M

Return for Risk

SB vs. DSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SB

SB Risk / Return Rank: 90
SB Sharpe Ratio Rank: 91
SB Sortino Ratio Rank: 89
SB Omega Ratio Rank: 87
SB Calmar Ratio Rank: 92
SB Martin Ratio Rank: 93

DSX

DSX Risk / Return Rank: 74
DSX Sharpe Ratio Rank: 73
DSX Sortino Ratio Rank: 70
DSX Omega Ratio Rank: 65
DSX Calmar Ratio Rank: 82
DSX Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SB vs. DSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Safe Bulkers, Inc. (SB) and Diana Shipping Inc. (DSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SB	DSX	Difference
Sharpe ratio Return per unit of total volatility	2.41	1.09	+1.32
Sortino ratio Return per unit of downside risk	3.13	1.79	+1.34
Omega ratio Gain probability vs. loss probability	1.40	1.20	+0.20
Calmar ratio Return relative to maximum drawdown	5.25	2.99	+2.26
Martin ratio Return relative to average drawdown	16.06	7.09	+8.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SB vs. DSX - Sharpe Ratio Comparison

The current SB Sharpe Ratio is 2.41, which is higher than the DSX Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of SB and DSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SB	DSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	1.09	+1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	-0.03	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.11	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	-0.07	+0.04

Drawdowns

SB vs. DSX - Drawdown Comparison

The maximum SB drawdown since its inception was -97.38%, roughly equal to the maximum DSX drawdown of -96.20%. Use the drawdown chart below to compare losses from any high point for SB and DSX.

Drawdown Indicators

	SB	DSX	Difference
Max Drawdown Largest peak-to-trough decline	-97.38%	-96.20%	-1.18%
Max Drawdown (1Y) Largest decline over 1 year	-14.73%	-20.30%	+5.57%
Max Drawdown (3Y) Largest decline over 3 years	-49.71%	-60.40%	+10.69%
Max Drawdown (5Y) Largest decline over 5 years	-52.55%	-71.03%	+18.48%
Max Drawdown (10Y) Largest decline over 10 years	-78.46%	-78.94%	+0.48%
Current Drawdown Current decline from peak	-31.30%	-87.17%	+55.87%
Average Drawdown Average peak-to-trough decline	-63.13%	-70.19%	+7.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.82%	8.57%	-3.75%

Volatility

SB vs. DSX - Volatility Comparison

The current volatility for Safe Bulkers, Inc. (SB) is 14.82%, while Diana Shipping Inc. (DSX) has a volatility of 16.44%. This indicates that SB experiences smaller price fluctuations and is considered to be less risky than DSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SB	DSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.82%	16.44%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	24.03%	34.85%	-10.82%
Volatility (1Y) Calculated over the trailing 1-year period	32.69%	48.19%	-15.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.25%	47.10%	-4.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.66%	53.71%	+1.95%

Dividends

SB vs. DSX - Dividend Comparison

SB's dividend yield for the trailing twelve months is around 3.10%, more than DSX's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSX Diana Shipping Inc.	1.67%	2.41%	11.99%	20.20%	23.08%	2.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SB Safe Bulkers, Inc.	3.10%	4.15%	5.60%	5.09%	6.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.94%

Financials

SB vs. DSX - Profitability Comparison

The chart below illustrates the profitability comparison between Safe Bulkers, Inc. and Diana Shipping Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Safe Bulkers, Inc. reported a gross profit of 30.51M and revenue of 72.57M. Therefore, the gross margin over that period was 42.0%.

DSX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Diana Shipping Inc. reported a gross profit of 20.20M and revenue of 54.73M. Therefore, the gross margin over that period was 36.9%.

SB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Safe Bulkers, Inc. reported an operating income of 22.55M and revenue of 72.57M, resulting in an operating margin of 31.1%.

DSX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Diana Shipping Inc. reported an operating income of 11.23M and revenue of 54.73M, resulting in an operating margin of 20.5%.

SB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Safe Bulkers, Inc. reported a net income of 11.84M and revenue of 72.57M, resulting in a net margin of 16.3%.

DSX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Diana Shipping Inc. reported a net income of 29.15M and revenue of 54.73M, resulting in a net margin of 53.3%.

Frequently Asked Questions

Can I hold both SB and DSX in my portfolio?

SB and DSX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SB or DSX?

DSX has higher volatility (16.44%) compared to SB (14.82%). In terms of maximum drawdown, SB dropped -97.38% vs DSX's -96.20%.

Which has better risk-adjusted returns?

SB currently has the higher Sharpe Ratio (2.41 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.