The risks differed sharply after Renown attacked Scharnhorst and Gneisenau off Norway. The German ships incurred damage and Hitler's displeasure without gaining the political value of sinking a British capital ship. If the action had continued, British destroyers were closing and would have added torpedo pressure. The Royal Navy might have accepted losing Renown and several destroyers in exchange for eliminating Germany's available heavy surface units. That unequal ability to absorb losses helps explain why disengagement could be rational even when the German ships appeared stronger on paper.
Notable Point · 1:38:46-1:40:21
Renown exploited an unequal risk calculus off Norway
Britain could contemplate trading Renown and destroyers for Scharnhorst and Gneisenau, while Germany could not readily absorb the loss of both heavy units.