International Seaways Correlations

INSW Stock

USD 34.33 0.53 1.57%

The current 90-days correlation between International Seaways and Teekay Tankers is 0.87 (i.e., Very poor diversification). The correlation of International Seaways 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.

International Seaways Correlation With Market

Significant diversification

The correlation between International Seaways and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Seaways and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in International Seaways. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

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

Moving together with International Stock

0.69	ET	Energy Transfer LP	Pair Corr
0.93	TK	Teekay	Pair Corr
0.61	VNOM	Viper Energy Ut	Pair Corr
0.84	FLNG	FLEX LNG	Pair Corr
0.61	DHT	DHT Holdings	Pair Corr
0.78	FRO	Frontline	Pair Corr
0.73	LPG	Dorian LPG	Pair Corr
0.91	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.93	TNK	Teekay Tankers	Pair Corr
0.66	IMPP	Imperial Petroleum	Pair Corr

Moving against International Stock

0.42	PBA	Pembina Pipeline Corp	Pair Corr
0.38	GLOP-PA	GasLog Partners LP	Pair Corr
0.34	GEL	Genesis Energy LP	Pair Corr
0.31	GLOP-PB	GasLog Partners LP	Pair Corr
0.59	SOBO	South Bow	Pair Corr
0.41	DLNG-PB	Dynagas LNG Partners	Pair Corr
0.33	TEN-PF	Tsakos Energy Navigation	Pair Corr
0.31	SEAL-PB	Seapeak LLC	Pair Corr
0.31	MMLP	Martin Midstream Partners	Pair Corr

Related Correlations Analysis

	TNK	EURN	FRO	DHT	STNG	TNP	LPG
TNK		0.0	0.71	0.5	0.79	0.0	0.81	TNK
EURN	0.0		0.0	0.0	0.0	0.0	0.0	EURN
FRO	0.71	0.0		0.94	0.27	0.0	0.34	FRO
DHT	0.5	0.0	0.94		0.05	0.0	0.14	DHT
STNG	0.79	0.0	0.27	0.05		0.0	0.85	STNG
TNP	0.0	0.0	0.0	0.0	0.0		0.0	TNP
LPG	0.81	0.0	0.34	0.14	0.85	0.0		LPG
	TNK	EURN	FRO	DHT	STNG	TNP	LPG

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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

DHT	+ 0.94	FRO
LPG	+ 0.85	STNG
LPG	+ 0.81	TNK
STNG	+ 0.79	TNK
FRO	+ 0.71	TNK
DHT	+ 0.5	TNK

High negative correlations

LPG	- 0.0	TNP
TNP	- 0.0	STNG
TNP	- 0.0	DHT
TNP	- 0.0	FRO
LPG	- 0.0	EURN
TNP	- 0.0	EURN

Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Seaways 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 International Seaways' 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	2.09	0.10	0.05	(0.44)	2.51	(2.34)	4.21	(4.73)	13.51
EURN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FRO	2.58	0.33	0.11	2.40	2.94	(2.89)	6.23	(4.99)	20.10
DHT	1.79	0.35	0.17	1.35	2.06	(1.94)	3.84	(4.25)	12.13
STNG	1.89	(0.33)	0.00	0.77	0.00	0.00	3.22	(3.65)	19.16
TNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LPG	2.02	0.09	0.04	0.22	2.68	(2.11)	4.25	(5.55)	11.00

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