TEN vs TRMD: Correlation
Tsakos Energy Navigation Ltd (TEN) and TORM plc (TRMD) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEN and TRMD?
On 3 years of weekly data the TEN/TRMD correlation comes out at 0.77, strong. Recent behaviour matches the longer record: 0.81 over 1 year against 0.77 over 3. The 5-year figure is 0.60, and annualized covariance runs at 1120.2 %².
Within TEN's tracked universe of 22 assets, TRMD comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TEN ahead by 36.8 points (+98.2% versus +61.4%).
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.
TEN vs TRMD: side by side
| TEN (Tsakos Energy Navigation Ltd) | TRMD (TORM plc) | |
|---|---|---|
| 1-year return | +98.2% | +61.4% |
| 5-year return | +584.9% | +679.6% |
| Volatility (ann.) | 36.7% | 39.6% |
| Beta vs S&P 500 | 0.66 | 0.60 |
| Max drawdown (3Y) | -52.6% | -60.6% |
| Market cap | $1.3B | $3.3B |
| P/E (trailing) | 6.6 | 5.2 |
| Dividend yield | 0.00% | 7.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TEN | TRMD |
|---|---|---|
| 2022 | +138.5% | +297.7% |
| 2023 | +38.1% | +31.6% |
| 2024 | -16.0% | -23.5% |
| 2025 | +33.1% | +11.3% |
| 2026 | +92.6% | +70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEN and TRMD good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between TEN and TRMD?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.81 over the last year and 0.60 over 5 years.
Is TRMD a good diversifier for TEN?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
A reading of 0.77 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ten-vs-trmd.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: TEN correlations · TRMD correlations
