Teekay Tankers Correlations

TNK Stock

USD 45.42 1.25 2.68%

The current 90-days correlation between Teekay Tankers and Scorpio Tankers is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Teekay Tankers moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Teekay Tankers moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Teekay Tankers Correlation With Market

Modest diversification

The correlation between Teekay Tankers and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teekay Tankers and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Teekay Tankers. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Teekay Stock please use our How to buy in Teekay Stock guide.

Moving together with Teekay Stock

0.75	AM	Antero Midstream Partners	Pair Corr
0.96	TK	Teekay	Pair Corr
0.88	FLNG	FLEX LNG	Pair Corr
0.92	DHT	DHT Holdings	Pair Corr
0.88	DTM	DT Midstream	Pair Corr
0.8	ENB	Enbridge	Pair Corr
0.96	FRO	Frontline	Pair Corr
0.61	GEL	Genesis Energy LP	Pair Corr
0.73	LNG	Cheniere Energy Sell-off Trend	Pair Corr
0.71	LPG	Dorian LPG	Pair Corr
0.76	PBT	Permian Basin Royalty	Pair Corr
0.72	GLOP-PB	GasLog Partners LP	Pair Corr
0.74	GLOP-PC	GasLog Partners LP	Pair Corr
0.86	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.71	TRP	TC Energy Corp	Pair Corr
0.74	GLNG	Golar LNG Limited	Pair Corr
0.72	IMPP	Imperial Petroleum	Pair Corr
0.94	INSW	International Seaways	Pair Corr
0.65	SEAL-PB	Seapeak LLC	Pair Corr
0.78	SEAL-PA	Seapeak LLC	Pair Corr

Moving against Teekay Stock

0.36	CQP	Cheniere Energy Partners	Pair Corr
0.55	SMC	Summit Midstream Symbol Change	Pair Corr
0.43	OKE	ONEOK Inc	Pair Corr
0.4	NGL-PC	NGL Energy Partners	Pair Corr

Related Correlations Analysis

	STNG	DHT	EURN	TNP	TK
STNG		0.91	0.0	0.0	0.83	STNG
DHT	0.91		0.0	0.0	0.95	DHT
EURN	0.0	0.0		0.0	0.0	EURN
TNP	0.0	0.0	0.0		0.0	TNP
TK	0.83	0.95	0.0	0.0		TK
	STNG	DHT	EURN	TNP	TK

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TK	+ 0.95	DHT
DHT	+ 0.91	STNG
TK	+ 0.83	STNG
EURN	+ 0.0	STNG
TNP	+ 0.0	STNG
EURN	+ 0.0	DHT

High negative correlations

TK	- 0.0	TNP
TK	- 0.0	EURN
TNP	- 0.0	EURN
TNP	- 0.0	DHT
EURN	- 0.0	DHT
TNP	- 0.0	STNG

Risk-Adjusted Indicators

There is a big difference between Teekay Stock performing well and Teekay Tankers Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Teekay Tankers' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
STNG	2.35	0.12	0.03	0.18	3.31	(2.18)	3.85	(5.83)	16.83
DHT	1.98	0.18	0.06	0.36	2.34	(2.01)	4.10	(3.82)	12.80
EURN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TK	2.07	0.48	0.19	0.87	2.17	(2.34)	4.55	(3.88)	13.89

Teekay Tankers Corporate Executives

Elected by the shareholders, the Teekay Tankers' board of directors comprises two types of representatives: Teekay Tankers inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Teekay. The board's role is to monitor Teekay Tankers' management team and ensure that shareholders' interests are well served. Teekay Tankers' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Teekay Tankers' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Brody Speers	CFO Treasurer	Profile
	Stewart Andrade	Chief Financial Officer	Profile

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