Teekay Correlations

TK Stock

USD 9.75 0.12 1.25%

The current 90-days correlation between Teekay and Global Partners LP is -0.16 (i.e., Good 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

Very good diversification

The correlation between Teekay and DJI is -0.25 (i.e., Very good 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.

Build AI portfolio with Teekay Stock

Check out 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 state.

For more information on how to buy Teekay Stock please use our How to buy in Teekay Stock guide.

Moving together with Teekay Stock

0.62

CDIV

Cascadia Investments

Pair Corr

Moving against Teekay Stock

0.39

RAIL

Freightcar America

Pair Corr

Related Correlations Analysis

	GLP	TNP	PDS	BORR	NGL	NBR	HPK	TEN-PE	VTS	CAPL
GLP		0.0	0.07	0.0	-0.42	0.1	0.27	0.05	0.39	0.1	GLP
TNP	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TNP
PDS	0.07	0.0		0.97	0.53	0.87	-0.83	0.69	-0.56	0.66	PDS
BORR	0.0	0.0	0.97		0.62	0.88	-0.81	0.68	-0.52	0.65	BORR
NGL	-0.42	0.0	0.53	0.62		0.44	-0.58	0.36	-0.47	0.52	NGL
NBR	0.1	0.0	0.87	0.88	0.44		-0.71	0.85	-0.47	0.72	NBR
HPK	0.27	0.0	-0.83	-0.81	-0.58	-0.71		-0.57	0.77	-0.63	HPK
TEN-PE	0.05	0.0	0.69	0.68	0.36	0.85	-0.57		-0.52	0.7	TEN-PE
VTS	0.39	0.0	-0.56	-0.52	-0.47	-0.47	0.77	-0.52		-0.45	VTS
CAPL	0.1	0.0	0.66	0.65	0.52	0.72	-0.63	0.7	-0.45		CAPL
	GLP	TNP	PDS	BORR	NGL	NBR	HPK	TEN-PE	VTS	CAPL

Please upgrade your account to get full access to Macroaxis premium features

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

BORR	+ 0.97	PDS
NBR	+ 0.88	BORR
NBR	+ 0.87	PDS
TEN-PE	+ 0.85	NBR
VTS	+ 0.77	HPK
CAPL	+ 0.72	NBR

High negative correlations

HPK	- 0.83	PDS
HPK	- 0.81	BORR
HPK	- 0.71	NBR
CAPL	- 0.63	HPK
HPK	- 0.58	NGL
TEN-PE	- 0.57	HPK

Risk-Adjusted Indicators

There 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GLP	1.48	0.00	(0.02)	0.07	1.83	(1.57)	3.06	(2.99)	9.17
TNP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PDS	1.55	0.51	0.27	1.00	1.42	(1.80)	3.27	(2.63)	7.53
BORR	2.61	0.76	0.23	0.96	2.58	(2.94)	7.37	(5.73)	16.39
NGL	2.53	0.86	0.26	(1.12)	2.13	(3.02)	6.60	(3.58)	36.12
NBR	2.67	0.71	0.24	0.68	2.39	(3.06)	9.68	(5.08)	17.72
HPK	3.96	(0.75)	0.00	(1.05)	0.00	0.00	7.59	(8.90)	21.96
TEN-PE	0.29	0.02	(0.12)	0.26	0.27	(0.32)	0.58	(0.56)	1.98
VTS	1.22	(0.09)	0.00	(0.98)	0.00	0.00	2.43	(2.74)	6.95
CAPL	0.86	0.23	0.14	17.76	0.84	(0.96)	1.97	(1.85)	4.92

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

2026 Macroaxis LLC