DHT vs TNK: Correlation
Measured on weekly returns over the past three years, DHT Holdings, Inc. (DHT) and Teekay Tankers Ltd. (TNK) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHT and TNK?
On 3 years of weekly data the DHT/TNK correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.80 over 3. The 5-year figure is 0.76, and annualized covariance runs at 1023.2 %².
Within DHT's tracked universe of 12 assets, TNK comes in at #4 by 3-year correlation. Their 12-month results are close: +89.7% for DHT 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.
DHT vs TNK: side by side
| DHT (DHT Holdings, Inc.) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +89.7% | +87.3% |
| 5-year return | +422.1% | +813.1% |
| Volatility (ann.) | 33.2% | 38.5% |
| Beta vs S&P 500 | 0.29 | 0.51 |
| Max drawdown (3Y) | -25.0% | -52.4% |
| Market cap | $3.1B | $3.1B |
| P/E (trailing) | 6.6 | 4.9 |
| Dividend yield | 13.37% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHT | TNK |
|---|---|---|
| 2022 | +73.9% | +182.7% |
| 2023 | +24.1% | +69.2% |
| 2024 | +3.6% | -16.6% |
| 2025 | +35.2% | +39.6% |
| 2026 | +79.6% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHT and TNK good diversifiers for each other?
No: a correlation of 0.80 means DHT and TNK tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between DHT and TNK?
The DHT/TNK correlation stands at 0.80 on a 3-year window (1 year: 0.84, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is TNK a good diversifier for DHT?
No: a correlation of 0.80 means DHT and TNK tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 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/dht-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dht-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHT correlations · TNK correlations
