ASC vs TK: Correlation
How closely do Ardmore Shipping Corporation (ASC) and Teekay Corporation Ltd. (TK) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASC and TK?
Over the past 3 years, ASC and TK moved with a correlation of 0.77, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.88 versus 0.77 over 3 years. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 1095.5 %².
Among the 14 assets we track against ASC, TK ranks #6 by 3-year correlation. Over the last 12 months TK came out ahead by 12.4 percentage points (+58.0% against +70.4%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASC vs TK: side by side
| ASC (Ardmore Shipping Corporation) | TK (Teekay Corporation Ltd.) | |
|---|---|---|
| 1-year return | +58.0% | +70.4% |
| 5-year return | +514.4% | +508.0% |
| Volatility (ann.) | 38.9% | 36.4% |
| Beta vs S&P 500 | 0.31 | 0.60 |
| Max drawdown (3Y) | -61.4% | -32.2% |
| Market cap | $0.7B | $1.1B |
| P/E (trailing) | 6.9 | 5.9 |
| Dividend yield | 8.07% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASC | TK |
|---|---|---|
| 2022 | +326.3% | +44.6% |
| 2023 | +5.8% | +57.5% |
| 2024 | -8.2% | +11.5% |
| 2025 | -11.1% | +48.2% |
| 2026 | +71.7% | +52.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASC and TK good diversifiers for each other?
Only partially. A correlation of 0.77 means ASC and TK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ASC and TK?
The ASC/TK correlation stands at 0.77 on a 3-year window (1 year: 0.88, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is TK a good diversifier for ASC?
Only partially. A correlation of 0.77 means ASC and TK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 mean?
A reading of 0.77 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asc-vs-tk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asc-vs-tk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASC correlations · TK correlations
