Tsakos Energy Correlations

TEN Stock

USD 18.89 0.16 0.84%

The current 90-days correlation between Tsakos Energy Navigation and American Axle Manufacturing is 0.02 (i.e., Significant 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

Good diversification

The correlation between Tsakos Energy Navigation and DJI is -0.12 (i.e., Good 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.

Build AI portfolio with Tsakos Stock

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

0.89	TK	Teekay	Pair Corr
0.89	IMPPP	Imperial Petroleum	Pair Corr
0.74	DTM	DT Midstream	Pair Corr
0.78	FRO	Frontline	Pair Corr
0.88	GEL	Genesis Energy LP Earnings Call This Week	Pair Corr
0.69	KMI	Kinder Morgan	Pair Corr
0.9	LPG	Dorian LPG Earnings Call This Week	Pair Corr
0.9	NGL	NGL Energy Partners	Pair Corr
0.71	PAA	Plains All American	Pair Corr
0.9	PBT	Permian Basin Royalty	Pair Corr
0.83	GLOP-PB	GasLog Partners LP	Pair Corr
0.84	GLOP-PA	GasLog Partners LP	Pair Corr
0.9	GLOP-PC	GasLog Partners LP	Pair Corr
0.63	TNK	Teekay Tankers	Pair Corr
0.64	WES	Western Midstream	Pair Corr
0.78	EP-PC	El Paso Energy	Pair Corr
0.82	IMPP	Imperial Petroleum	Pair Corr
0.93	INSW	International Seaways	Pair Corr
0.8	SEAL-PB	Seapeak LLC	Pair Corr
0.82	SEAL-PA	Seapeak LLC	Pair Corr

Moving against Tsakos Stock

0.67	SMC	Summit Midstream Symbol Change	Pair Corr
0.66	CQP	Cheniere Energy Partners	Pair Corr
0.53	TRP	TC Energy Corp	Pair Corr
0.39	VNOM	Viper Energy Ut	Pair Corr
0.35	OKE	ONEOK Inc	Pair Corr
0.45	BANL	CBL International	Pair Corr

Related Correlations Analysis

	ALV	AXL	BWA	DAN	DHT	FRO	INSW	KNOP	LEA	LPG
ALV		0.72	0.93	0.89	0.54	0.72	0.87	0.64	0.9	0.89	ALV
AXL	0.72		0.85	0.83	0.67	0.77	0.79	0.56	0.76	0.62	AXL
BWA	0.93	0.85		0.92	0.61	0.74	0.88	0.6	0.89	0.8	BWA
DAN	0.89	0.83	0.92		0.79	0.81	0.89	0.41	0.72	0.67	DAN
DHT	0.54	0.67	0.61	0.79		0.87	0.77	0.16	0.32	0.35	DHT
FRO	0.72	0.77	0.74	0.81	0.87		0.91	0.53	0.61	0.67	FRO
INSW	0.87	0.79	0.88	0.89	0.77	0.91		0.62	0.78	0.82	INSW
KNOP	0.64	0.56	0.6	0.41	0.16	0.53	0.62		0.81	0.82	KNOP
LEA	0.9	0.76	0.89	0.72	0.32	0.61	0.78	0.81		0.91	LEA
LPG	0.89	0.62	0.8	0.67	0.35	0.67	0.82	0.82	0.91		LPG
	ALV	AXL	BWA	DAN	DHT	FRO	INSW	KNOP	LEA	LPG

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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
ALV	1.21	0.52	0.25	(3.44)	0.82	(1.44)	3.25	(1.47)	9.57
AXL	2.26	0.76	0.16	(0.46)	2.00	(2.87)	7.24	(4.16)	15.90
BWA	1.27	0.30	0.25	0.47	0.81	(1.53)	3.92	(1.70)	6.34
DAN	1.84	0.68	0.23	(1.46)	1.30	(2.12)	4.80	(2.60)	10.01
DHT	1.44	0.23	0.00	(0.43)	1.61	(1.57)	3.06	(2.42)	8.41
FRO	2.28	0.44	0.08	(1.00)	2.38	(2.60)	4.86	(3.79)	13.17
INSW	1.94	0.42	0.08	(0.81)	1.89	(2.12)	4.31	(2.94)	8.75
KNOP	1.50	0.20	0.03	1.50	1.51	(1.83)	4.08	(2.43)	9.62
LEA	1.59	0.52	0.19	(1.66)	1.22	(1.91)	4.13	(2.48)	8.54
LPG	1.94	0.63	0.17	(3.11)	2.07	(2.39)	4.72	(2.40)	15.77

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