| TK Stock | | | USD 8.24 0.14 1.73% |
The current 90-days correlation between Teekay and DHT Holdings is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Teekay moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Teekay moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Teekay Correlation With Market
Average diversification
The correlation between Teekay and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teekay and DJI in the same portfolio, assuming nothing else is changed.
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World Market Map to better understand how to build diversified portfolios, which includes a position in Teekay. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in bureau of economic analysis.
For more information on how to buy Teekay Stock please use our
How to buy in Teekay Stock guide.
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 IndicatorsThere is a big difference between Teekay Stock performing well and Teekay 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'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.