NAT vs TNK: Correlation
Nordic American Tankers Limited (NAT) and Teekay Tankers Ltd. (TNK) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAT and TNK?
On 3 years of weekly data the NAT/TNK correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.77 over 1 year against 0.81 over 3. The 5-year figure is 0.75, and annualized covariance runs at 1117.9 %².
In NAT's tracked universe of 11 assets, TNK sits right near the top at #3. Correlation aside, the last 12 months split them widely, with NAT ahead by 50.3 points (+137.6% versus +87.3%).
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.
NAT vs TNK: side by side
| NAT (Nordic American Tankers Limited) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +137.6% | +87.3% |
| 5-year return | +351.2% | +813.1% |
| Volatility (ann.) | 36.0% | 38.5% |
| Beta vs S&P 500 | 0.30 | 0.51 |
| Max drawdown (3Y) | -46.3% | -52.4% |
| Market cap | – | $3.1B |
| P/E (trailing) | 25.0 | 4.9 |
| Dividend yield | 9.51% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAT | TNK |
|---|---|---|
| 2022 | +87.9% | +182.7% |
| 2023 | +55.8% | +69.2% |
| 2024 | -33.6% | -16.6% |
| 2025 | +44.6% | +39.6% |
| 2026 | +111.4% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAT and TNK good diversifiers for each other?
No. With a correlation of 0.81, NAT and TNK move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between NAT and TNK?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.77 over the last year and 0.75 over 5 years.
Is TNK a good diversifier for NAT?
No. With a correlation of 0.81, NAT and TNK move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 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/nat-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nat-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NAT correlations · TNK correlations
