Scorpio Tankers Correlations

STNG Stock

USD 52.91 1.76 3.22%

The current 90-days correlation between Scorpio Tankers and Teekay Tankers is 0.79 (i.e., Poor diversification). The correlation of Scorpio Tankers is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Scorpio Tankers Correlation With Market

Modest diversification

The correlation between Scorpio Tankers and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scorpio Tankers 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 Scorpio Tankers. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more detail on how to invest in Scorpio Stock please use our How to Invest in Scorpio Tankers guide.

Moving together with Scorpio Stock

0.67	TK	Teekay	Pair Corr
0.68	FLNG	FLEX LNG Earnings Call This Week	Pair Corr
0.62	DHT	DHT Holdings	Pair Corr
0.93	FRO	Frontline Earnings Call This Week	Pair Corr
0.88	GEL	Genesis Energy LP	Pair Corr
0.93	LPG	Dorian LPG	Pair Corr
0.95	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.97	TNK	Teekay Tankers	Pair Corr
0.79	IMPP	Imperial Petroleum	Pair Corr
0.95	INSW	International Seaways	Pair Corr

Moving against Scorpio Stock

0.86	DTM	DT Midstream	Pair Corr
0.82	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.82	OKE	ONEOK Inc	Pair Corr
0.81	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.74	EE	Excelerate Energy	Pair Corr
0.74	LNG	Cheniere Energy	Pair Corr
0.73	ENLC	EnLink Midstream LLC	Pair Corr
0.7	VNOM	Viper Energy Ut	Pair Corr
0.7	EPD	Enterprise Products	Pair Corr
0.67	ENB	Enbridge	Pair Corr
0.65	GLP	Global Partners LP	Pair Corr
0.64	CQP	Cheniere Energy Partners	Pair Corr
0.6	IMPPP	Imperial Petroleum	Pair Corr
0.57	DLNG	Dynagas LNG Partners Earnings Call This Week	Pair Corr
0.36	GLOP-PB	GasLog Partners LP	Pair Corr
0.33	PBT	Permian Basin Royalty	Pair Corr
0.33	GLOP-PC	GasLog Partners LP	Pair Corr
0.87	TRGP	Targa Resources	Pair Corr
0.85	GLP-PB	Global Partners LP	Pair Corr
0.84	WMB	Williams Companies	Pair Corr
0.82	KNTK	Kinetik Holdings	Pair Corr
0.78	DLNG-PB	Dynagas LNG Partners Earnings Call This Week	Pair Corr
0.77	TRP	TC Energy Corp	Pair Corr
0.75	ET-PI	Energy Transfer LP	Pair Corr
0.72	MPLX	MPLX LP	Pair Corr
0.71	DLNG-PA	Dynagas LNG Partners Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TNK	EURN	TNP	NVGS	DHT	FRO	INSW	TRMD
TNK		-0.4	-0.39	0.53	0.74	0.93	0.99	0.86	TNK
EURN	-0.4		0.72	0.06	0.14	-0.38	-0.34	-0.74	EURN
TNP	-0.39	0.72		-0.06	0.04	-0.42	-0.4	-0.73	TNP
NVGS	0.53	0.06	-0.06		0.64	0.63	0.58	0.39	NVGS
DHT	0.74	0.14	0.04	0.64		0.79	0.77	0.39	DHT
FRO	0.93	-0.38	-0.42	0.63	0.79		0.93	0.83	FRO
INSW	0.99	-0.34	-0.4	0.58	0.77	0.93		0.84	INSW
TRMD	0.86	-0.74	-0.73	0.39	0.39	0.83	0.84		TRMD
	TNK	EURN	TNP	NVGS	DHT	FRO	INSW	TRMD

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

INSW	+ 0.99	TNK
FRO	+ 0.93	TNK
INSW	+ 0.93	FRO
TRMD	+ 0.86	TNK
TRMD	+ 0.84	INSW
TRMD	+ 0.83	FRO

High negative correlations

TRMD	- 0.74	EURN
TRMD	- 0.73	TNP
FRO	- 0.42	TNP
INSW	- 0.4	TNP
EURN	- 0.4	TNK
TNP	- 0.39	TNK

Risk-Adjusted Indicators

There is a big difference between Scorpio Stock performing well and Scorpio 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 Scorpio 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
TNK	1.50	(0.47)	0.00	(0.42)	0.00	0.00	2.41	(3.77)	11.22
EURN	1.46	0.48	0.24	1.18	1.24	(1.69)	3.66	(3.10)	10.85
TNP	1.44	0.21	0.08	(8.58)	1.46	(1.66)	3.12	(2.57)	9.04
NVGS	1.29	(0.06)	(0.05)	0.00	1.72	(1.26)	2.52	(2.84)	8.11
DHT	1.70	(0.10)	0.00	(0.03)	0.00	0.00	3.89	(3.69)	9.53
FRO	1.97	(0.27)	0.00	(0.35)	0.00	0.00	4.15	(5.32)	12.09
INSW	1.45	(0.31)	0.00	(0.22)	0.00	0.00	2.77	(3.31)	9.18
TRMD	1.59	(0.69)	0.00	(0.69)	0.00	0.00	2.54	(4.09)	8.63

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC