Tsakos Energy Correlations

Stocks . USA . 
Stock . Tsakos Energy Navigation
TEN Stock  USD 18.16  0.41  2.31%   
The current 90-days correlation between Tsakos Energy Navigation and Rackspace Technology is -0.09 (i.e., Good 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.
  
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

  0.86FRO FrontlinePairCorr
  0.62GEL Genesis Energy LPPairCorr
  0.96LPG Dorian LPGPairCorr
  0.66PBA Pembina Pipeline CorpPairCorr
  0.97TNK Teekay TankersPairCorr
  0.91IMPP Imperial PetroleumPairCorr
  0.97INSW International SeawaysPairCorr

Moving against Tsakos Stock

  0.76EE Excelerate EnergyPairCorr
  0.7ET Energy Transfer LPPairCorr
  0.64GLOP-PC GasLog Partners LPPairCorr
  0.61GLOP-PA GasLog Partners LPPairCorr
  0.6GLOP-PB GasLog Partners LPPairCorr
  0.59EPD Enterprise ProductsPairCorr
  0.57DLNG Dynagas LNG PartnersPairCorr
  0.57CQP Cheniere Energy PartnersPairCorr
  0.53NGL NGL Energy Partners Earnings Call This WeekPairCorr
  0.47DTM DT MidstreamPairCorr
  0.44LNG Cheniere EnergyPairCorr
  0.43GLP Global Partners LPPairCorr
  0.41IMPPP Imperial PetroleumPairCorr
  0.4KMI Kinder MorganPairCorr
  0.39ENB Enbridge Earnings Call Next WeekPairCorr
  0.67GLNG Golar LNG LimitedPairCorr
  0.67MPLX MPLX LP Earnings Call This WeekPairCorr
  0.58GLP-PB Global Partners LPPairCorr
  0.54NGL-PC NGL Energy Partners Earnings Call This WeekPairCorr
  0.52WES Western MidstreamPairCorr
  0.46SEAL-PA Seapeak LLCPairCorr
  0.46NGL-PB NGL Energy Partners Earnings Call This WeekPairCorr
  0.45KNTK Kinetik HoldingsPairCorr
  0.41HESM Hess Midstream PartnersPairCorr
  0.41HMLPF Hoegh LNG PartnersPairCorr
  0.39SMC Summit Midstream Symbol ChangePairCorr
  0.38PAGP Plains GP Holdings Earnings Call Next WeekPairCorr

Related Correlations Analysis

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   
KSPI
+ 0.65
NKE
KSPI
+ 0.6
RXT
WFCF
+ 0.41
GROV
WFCF
+ 0.4
EL
GROV
+ 0.4
QTWO
WFCF
+ 0.35
QTWO
  
High negative correlations   
WFCF
- 0.67
KSPI
WFCF
- 0.41
RXT
WFCF
- 0.24
NKE
KSPI
- 0.21
EL
QTWO
- 0.18
EL
RXT
- 0.18
EL

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.

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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY