SLS vs TNK: Correlation
SELLAS Life Sciences Group, Inc. (SLS) and Teekay Tankers Ltd. (TNK) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLS and TNK?
Across a 3-year window, the weekly returns of SLS and TNK correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.22). Stretching to 5 years gives -0.16, with an annualized covariance of -873.4 %².
Out of 10 assets tracked against SLS, TNK lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with SLS ahead by 604.9 points (+692.2% versus +87.3%). Risk is not evenly split, since SLS carries 2.6 times the volatility of the other side.
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 TNK: side by side
| SLS (SELLAS Life Sciences Group, Inc.) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +692.2% | +87.3% |
| 5-year return | +65.0% | +813.1% |
| Volatility (ann.) | 101.2% | 38.5% |
| Beta vs S&P 500 | 0.79 | 0.51 |
| Max drawdown (3Y) | -72.0% | -52.4% |
| Market cap | $3.1B | $3.1B |
| P/E (trailing) | – | 4.9 |
| Dividend yield | 0.00% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SLS | TNK |
|---|---|---|
| 2022 | -57.3% | +182.7% |
| 2023 | -55.1% | +69.2% |
| 2024 | -1.9% | -16.6% |
| 2025 | +262.5% | +39.6% |
| 2026 | +303.4% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLS and TNK good diversifiers for each other?
Yes. With a correlation of -0.22, SLS and TNK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SLS and TNK?
The SLS/TNK correlation stands at -0.22 on a 3-year window (1 year: -0.50, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is TNK a good diversifier for SLS?
Yes. With a correlation of -0.22, SLS and TNK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/sls-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sls-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SLS correlations · TNK correlations
