Teekay Tankers Ltd. (TNK) Correlation Distribution
Across 6,809 rolling correlation observations between Teekay Tankers Ltd. (TNK) and other NASDAQ-listed stocks, 33.8% are positive and 66.2% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.213, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 10% and strong negative correlations (≤−0.7) for 25.2%.
- Total observations
- 6,809
- Mean correlation
- -0.213
- Most common range
- -0.9 to -0.8
- Positive pairs
- 33.8%
- Strong positive (≥0.7)
- 10%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 33 | 0.5% | |
| -0.9 to -0.8 | 841 | 12.4% | |
| -0.8 to -0.7 | 841 | 12.4% | |
| -0.7 to -0.6 | 708 | 10.4% | |
| -0.6 to -0.5 | 708 | 10.4% | |
| -0.5 to -0.4 | 336 | 4.9% | |
| -0.4 to -0.3 | 336 | 4.9% | |
| -0.3 to -0.2 | 243 | 3.6% | |
| -0.2 to -0.1 | 243 | 3.6% | |
| -0.1 to 0.0 | 218 | 3.2% | |
| 0.0 to 0.1 | 217 | 3.2% | |
| 0.1 to 0.2 | 217 | 3.2% | |
| 0.2 to 0.3 | 216 | 3.2% | |
| 0.3 to 0.4 | 214 | 3.1% | |
| 0.4 to 0.5 | 214 | 3.1% | |
| 0.5 to 0.6 | 270 | 4.0% | |
| 0.6 to 0.7 | 270 | 4.0% | |
| 0.7 to 0.8 | 295 | 4.3% | |
| 0.8 to 0.9 | 294 | 4.3% | |
| 0.9 to 1.0 | 95 | 1.4% |
Frequently asked questions
What is the average correlation of TNK?
Teekay Tankers Ltd. (TNK) has an average correlation of about -0.213 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is TNK positively correlated with other stocks?
Not predominantly — 33.8% of pairs are positive and 66.2% are negative. Strong positive correlations (≥0.7) make up 10%.
What is the most common correlation range for TNK?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 19.9% of all pairs.
Explore the full interactive correlation distribution for TNK.
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