Tsakos Energy Correlations

TEN Stock

USD 16.64 0.06 0.36%

The current 90-days correlation between Tsakos Energy Navigation and Finnair Oyj is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tsakos Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tsakos Energy Navigation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tsakos Energy Correlation With Market

Significant diversification

The correlation between Tsakos Energy Navigation and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tsakos Energy Navigation and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tsakos Stock

0.62	ET	Energy Transfer LP	Pair Corr
0.95	TK	Teekay	Pair Corr
0.61	DLNG	Dynagas LNG Partners	Pair Corr
0.68	VNOM	Viper Energy Ut	Pair Corr
0.8	FLNG	FLEX LNG	Pair Corr
0.7	DTM	DT Midstream	Pair Corr
0.65	FRO	Frontline	Pair Corr
0.88	LPG	Dorian LPG	Pair Corr
0.67	NGL	NGL Energy Partners	Pair Corr
0.97	TNK	Teekay Tankers	Pair Corr
0.79	IMPP	Imperial Petroleum	Pair Corr
0.91	INSW	International Seaways	Pair Corr

Moving against Tsakos Stock

0.49	GLOP-PA	GasLog Partners LP	Pair Corr
0.45	GEL	Genesis Energy LP	Pair Corr
0.41	GLOP-PB	GasLog Partners LP	Pair Corr
0.41	GLOP-PC	GasLog Partners LP	Pair Corr
0.36	PBA	Pembina Pipeline Corp Sell-off Trend	Pair Corr
0.47	MMLP	Martin Midstream Partners	Pair Corr
0.41	SOBO	South Bow	Pair Corr

Related Correlations Analysis

	DINO	GNZUF	FNNNF	APTV	SBGI	GNTX	DAN	EVOH
DINO		-0.1	-0.57	0.15	-0.06	0.11	0.36	0.0	DINO
GNZUF	-0.1		-0.15	-0.37	0.48	0.32	-0.35	0.0	GNZUF
FNNNF	-0.57	-0.15		0.45	-0.13	-0.74	0.31	0.0	FNNNF
APTV	0.15	-0.37	0.45		-0.58	-0.73	0.75	0.0	APTV
SBGI	-0.06	0.48	-0.13	-0.58		0.41	-0.59	0.0	SBGI
GNTX	0.11	0.32	-0.74	-0.73	0.41		-0.65	0.0	GNTX
DAN	0.36	-0.35	0.31	0.75	-0.59	-0.65		0.0	DAN
EVOH	0.0	0.0	0.0	0.0	0.0	0.0	0.0		EVOH
	DINO	GNZUF	FNNNF	APTV	SBGI	GNTX	DAN	EVOH

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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

DAN	+ 0.75	APTV
SBGI	+ 0.48	GNZUF
APTV	+ 0.45	FNNNF
GNTX	+ 0.41	SBGI
DAN	+ 0.36	DINO
GNTX	+ 0.32	GNZUF

High negative correlations

GNTX	- 0.74	FNNNF
GNTX	- 0.73	APTV
DAN	- 0.65	GNTX
DAN	- 0.59	SBGI
SBGI	- 0.58	APTV
FNNNF	- 0.57	DINO

Risk-Adjusted Indicators

There is a big difference between Tsakos Stock performing well and Tsakos Energy 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 Tsakos Energy's 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
DINO	1.82	(0.03)	0.00	(0.07)	0.00	0.00	3.90	(4.00)	12.94
GNZUF	2.92	(0.05)	0.00	0.13	0.00	0.00	8.33	(7.69)	24.04
FNNNF	1.57	0.73	0.00	(1.27)	0.00	0.00	6.38	0.00	20.75
APTV	1.15	0.18	0.13	0.19	1.34	(1.27)	2.59	(2.38)	7.37
SBGI	1.97	0.01	0.00	(0.03)	0.00	0.00	4.70	(4.20)	10.71
GNTX	1.22	(0.29)	0.00	(0.47)	0.00	0.00	2.19	(2.29)	10.85
DAN	2.20	0.35	0.13	0.21	2.38	(2.32)	5.46	(3.75)	19.62
EVOH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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