ASC vs TNK: Correlation
Measured on weekly returns over the past three years, Ardmore Shipping Corporation (ASC) and Teekay Tankers Ltd. (TNK) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASC and TNK?
Across a 3-year window, the weekly returns of ASC and TNK correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.72, with an annualized covariance of 1228.1 %².
In ASC's tracked universe of 14 assets, TNK sits right near the top at #2. The last year tells two different stories: TNK led by 29.3 percentage points, +58.0% for ASC against +87.3% for TNK.
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 TNK: side by side
| ASC (Ardmore Shipping Corporation) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +58.0% | +87.3% |
| 5-year return | +514.4% | +813.1% |
| Volatility (ann.) | 38.9% | 38.5% |
| Beta vs S&P 500 | 0.31 | 0.51 |
| Max drawdown (3Y) | -61.4% | -52.4% |
| Market cap | $0.7B | $3.1B |
| P/E (trailing) | 6.9 | 4.9 |
| Dividend yield | 8.07% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASC | TNK |
|---|---|---|
| 2022 | +326.3% | +182.7% |
| 2023 | +5.8% | +69.2% |
| 2024 | -8.2% | -16.6% |
| 2025 | -11.1% | +39.6% |
| 2026 | +71.7% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASC and TNK good diversifiers for each other?
No. With a correlation of 0.82, ASC and TNK move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ASC and TNK?
As of 2026-08-27, the correlation of weekly returns between ASC and TNK is 0.82 over 3 years, 0.87 over 1 year and 0.72 over 5 years.
Is TNK a good diversifier for ASC?
No. With a correlation of 0.82, ASC and TNK move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asc-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asc-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASC correlations · TNK correlations
