SLS vs TK: Correlation
How closely do SELLAS Life Sciences Group, Inc. (SLS) and Teekay Corporation Ltd. (TK) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLS and TK?
Across a 3-year window, the weekly returns of SLS and TK correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.23). Stretching to 5 years gives -0.14, with an annualized covariance of -851.3 %².
TK is close to the least connected end of SLS's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months SLS outperformed by 621.8 percentage points (+692.2% for SLS against +70.4% for TK). One caveat on sizing: SLS is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SLS vs TK: side by side
| SLS (SELLAS Life Sciences Group, Inc.) | TK (Teekay Corporation Ltd.) | |
|---|---|---|
| 1-year return | +692.2% | +70.4% |
| 5-year return | +65.0% | +508.0% |
| Volatility (ann.) | 101.2% | 36.4% |
| Beta vs S&P 500 | 0.79 | 0.60 |
| Max drawdown (3Y) | -72.0% | -32.2% |
| Market cap | $3.1B | $1.1B |
| P/E (trailing) | – | 5.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SLS | TK |
|---|---|---|
| 2022 | -57.3% | +44.6% |
| 2023 | -55.1% | +57.5% |
| 2024 | -1.9% | +11.5% |
| 2025 | +262.5% | +48.2% |
| 2026 | +303.4% | +52.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLS and TK good diversifiers for each other?
Yes. With a correlation of -0.23, SLS and TK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SLS and TK?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.50 over the last year and -0.14 over 5 years.
Is TK a good diversifier for SLS?
Yes. With a correlation of -0.23, SLS and TK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/sls-vs-tk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sls-vs-tk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SLS correlations · TK correlations
