Tsakos Energy Correlations

TEN Stock

USD 25.37 0.20 0.79%

The current 90-days correlation between Tsakos Energy Navigation and Sun Country Airlines is 0.33 (i.e., Weak 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

Very weak diversification

The correlation between Tsakos Energy Navigation and DJI is 0.41 (i.e., Very weak 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

0.71	DLNG	Dynagas LNG Partners	Pair Corr
0.65	GEL	Genesis Energy LP	Pair Corr
0.76	NGL	NGL Energy Partners	Pair Corr
0.73	PAA	Plains All American	Pair Corr
0.62	PBT	Permian Basin Royalty	Pair Corr
0.87	TNK	Teekay Tankers	Pair Corr
0.75	WES	Western Midstream	Pair Corr
0.94	INSW	International Seaways	Pair Corr

Moving against Tsakos Stock

0.4	ENB	Enbridge	Pair Corr
0.54	HMLPF	Hoegh LNG Partners	Pair Corr

Related Correlations Analysis

	GMXTF	SNCY	J	CPAC	GFF	TSN	ODFL	MESA
GMXTF		-0.09	0.33	0.27	0.01	0.34	-0.35	-0.55	GMXTF
SNCY	-0.09		-0.24	-0.18	0.62	-0.3	0.18	0.71	SNCY
J	0.33	-0.24		0.57	0.36	-0.31	0.04	-0.31	J
CPAC	0.27	-0.18	0.57		0.2	-0.11	0.05	-0.43	CPAC
GFF	0.01	0.62	0.36	0.2		-0.4	0.47	0.39	GFF
TSN	0.34	-0.3	-0.31	-0.11	-0.4		0.02	-0.42	TSN
ODFL	-0.35	0.18	0.04	0.05	0.47	0.02		0.25	ODFL
MESA	-0.55	0.71	-0.31	-0.43	0.39	-0.42	0.25		MESA
	GMXTF	SNCY	J	CPAC	GFF	TSN	ODFL	MESA

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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

MESA	+ 0.71	SNCY
GFF	+ 0.62	SNCY
CPAC	+ 0.57	J
ODFL	+ 0.47	GFF
MESA	+ 0.39	GFF
GFF	+ 0.36	J

High negative correlations

MESA	- 0.55	GMXTF
MESA	- 0.43	CPAC
MESA	- 0.42	TSN
TSN	- 0.4	GFF
ODFL	- 0.35	GMXTF
MESA	- 0.31	J

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
GMXTF	1.18	0.18	0.00	1.67	0.00	0.00	1.15	(3.41)	45.90
SNCY	2.74	(0.38)	0.00	(0.07)	0.00	0.00	4.82	(6.34)	16.91
J	0.97	0.16	0.11	0.25	1.24	(1.05)	2.40	(1.75)	9.69
CPAC	1.23	0.05	(0.02)	0.38	1.55	(1.39)	2.73	(2.49)	9.81
GFF	2.07	(0.08)	0.01	0.06	4.29	(1.99)	4.12	(3.96)	28.74
TSN	0.93	0.03	(0.03)	0.21	1.35	(0.97)	2.35	(2.42)	7.02
ODFL	1.61	0.01	0.01	0.10	2.04	(1.59)	2.68	(3.32)	10.85
MESA	2.61	(0.54)	0.00	(0.28)	0.00	0.00	6.19	(5.79)	18.01

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