DHT Holdings Correlations

DHT Stock

USD 11.08 0.02 0.18%

The current 90-days correlation between DHT Holdings and Teekay Tankers is 0.86 (i.e., Very poor diversification). The correlation of DHT Holdings is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

DHT Holdings Correlation With Market

Significant diversification

The correlation between DHT Holdings and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DHT Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DHT Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more information on how to buy DHT Stock please use our How to Invest in DHT Holdings guide.

Moving together with DHT Stock

0.71	AM	Antero Midstream Partners	Pair Corr
0.75	CQP	Cheniere Energy Partners	Pair Corr
0.95	FRO	Frontline	Pair Corr
0.75	SMC	Summit Midstream Symbol Change	Pair Corr
0.77	WES	Western Midstream	Pair Corr
0.64	INSW	International Seaways	Pair Corr

Moving against DHT Stock

0.36

PBA

Pembina Pipeline Corp

Pair Corr

Related Correlations Analysis

	TNK	FRO	INSW	STNG	EURN	TRMD
TNK		0.73	0.93	0.73	0.0	0.91	TNK
FRO	0.73		0.79	0.15	0.0	0.53	FRO
INSW	0.93	0.79		0.62	0.0	0.85	INSW
STNG	0.73	0.15	0.62		0.0	0.81	STNG
EURN	0.0	0.0	0.0	0.0		0.0	EURN
TRMD	0.91	0.53	0.85	0.81	0.0		TRMD
	TNK	FRO	INSW	STNG	EURN	TRMD

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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

INSW	+ 0.93	TNK
TRMD	+ 0.91	TNK
TRMD	+ 0.85	INSW
TRMD	+ 0.81	STNG
INSW	+ 0.79	FRO
FRO	+ 0.73	TNK

High negative correlations

TRMD	- 0.0	EURN
EURN	- 0.0	STNG
EURN	- 0.0	INSW
EURN	- 0.0	FRO
EURN	- 0.0	TNK

Risk-Adjusted Indicators

There is a big difference between DHT Stock performing well and DHT Holdings 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 DHT Holdings' 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
TNK	2.05	0.06	0.06	(0.31)	2.40	(2.42)	4.21	(4.73)	13.51
FRO	2.62	0.32	0.12	1.94	2.90	(3.01)	6.23	(4.99)	20.10
INSW	2.23	0.10	0.06	0.28	2.55	(2.38)	5.03	(3.93)	16.80
STNG	1.85	(0.18)	0.00	15.98	0.00	0.00	3.51	(3.25)	19.16
EURN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRMD	2.41	0.16	0.07	0.48	2.77	(2.55)	5.76	(4.81)	18.16

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