Teekay Tankers Correlations
| TNK Stock | USD 39.96 0.44 1.11% |
The current 90-days correlation between Teekay Tankers and Scorpio Tankers is 0.82 (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
Good diversification
The correlation between Teekay Tankers and DJI is -0.08 (i.e., Good 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.
Teekay |
Moving together with Teekay Stock
| 0.61 | ET | Energy Transfer LP | PairCorr |
| 0.96 | TK | Teekay | PairCorr |
| 0.83 | FLNG | FLEX LNG | PairCorr |
| 0.65 | DTM | DT Midstream | PairCorr |
| 0.73 | FRO | Frontline | PairCorr |
| 0.65 | LNG | Cheniere Energy | PairCorr |
| 0.79 | LPG | Dorian LPG | PairCorr |
| 0.64 | NGL | NGL Energy Partners | PairCorr |
| 0.97 | TEN | Tsakos Energy Navigation Symbol Change | PairCorr |
| 0.72 | IMPP | Imperial Petroleum | PairCorr |
| 0.93 | INSW | International Seaways | PairCorr |
Moving against Teekay Stock
| 0.37 | GEL | Genesis Energy LP | PairCorr |
| 0.41 | PBA | Pembina Pipeline Corp | PairCorr |
| 0.41 | GLOP-PA | GasLog Partners LP | PairCorr |
| 0.56 | MMLP | Martin Midstream Partners | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
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 | 1.85 | (0.18) | 0.00 | 15.98 | 0.00 | 3.51 | 19.16 | |||
| DHT | 1.78 | 0.36 | 0.19 | 1.37 | 1.95 | 3.84 | 12.13 | |||
| EURN | 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 | |||
| TK | 1.72 | 0.15 | 0.10 | 3.22 | 2.07 | 4.00 | 10.16 |
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.
| Stewart Andrade | Chief Financial Officer | Profile |