FGNX vs TNK: Correlation
Measured on weekly returns over the past three years, FG Nexus Inc. (FGNX) and Teekay Tankers Ltd. (TNK) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGNX and TNK?
On 3 years of weekly data the FGNX/TNK correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. The 5-year figure is -0.03, and annualized covariance runs at -846.2 %².
Within FGNX's tracked universe of 18 assets, TNK comes in at #13 by 3-year correlation. The last year tells two different stories: TNK led by 174.8 percentage points, -87.5% for FGNX against +87.3% for TNK. Note the risk asymmetry: FGNX runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FGNX vs TNK: side by side
| FGNX (FG Nexus Inc.) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | -87.5% | +87.3% |
| 5-year return | -98.8% | +813.1% |
| Volatility (ann.) | 105.1% | 38.5% |
| Beta vs S&P 500 | -0.07 | 0.51 |
| Max drawdown (3Y) | -97.9% | -52.4% |
| Market cap | – | $3.1B |
| P/E (trailing) | – | 4.9 |
| Dividend yield | 0.00% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGNX | TNK |
|---|---|---|
| 2022 | -24.2% | +182.7% |
| 2023 | -43.9% | +69.2% |
| 2024 | -45.5% | -16.6% |
| 2025 | -87.4% | +39.6% |
| 2026 | -42.8% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and TNK good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between FGNX and TNK?
As of 2026-08-27, the correlation of weekly returns between FGNX and TNK is -0.21 over 3 years, -0.25 over 1 year and -0.03 over 5 years.
Is TNK a good diversifier for FGNX?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fgnx-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fgnx-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FGNX correlations · TNK correlations
