TK vs TNK: Correlation
How closely do Teekay Corporation Ltd. (TK) and Teekay Tankers Ltd. (TNK) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TK and TNK?
Across a 3-year window, the weekly returns of TK and TNK correlate at 0.88, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.94 lands near the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 1234.0 %².
Few assets follow TK as closely as TNK, which ranks #1 of 13 tracked partners. Their recent paths diverged sharply: over the last 12 months TNK outperformed by 16.9 percentage points (+70.4% for TK against +87.3% for TNK).
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.
TK vs TNK: side by side
| TK (Teekay Corporation Ltd.) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +70.4% | +87.3% |
| 5-year return | +508.0% | +813.1% |
| Volatility (ann.) | 36.4% | 38.5% |
| Beta vs S&P 500 | 0.60 | 0.51 |
| Max drawdown (3Y) | -32.2% | -52.4% |
| Market cap | $1.1B | $3.1B |
| P/E (trailing) | 5.9 | 4.9 |
| Dividend yield | 0.00% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TK | TNK |
|---|---|---|
| 2022 | +44.6% | +182.7% |
| 2023 | +57.5% | +69.2% |
| 2024 | +11.5% | -16.6% |
| 2025 | +48.2% | +39.6% |
| 2026 | +52.9% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TK and TNK good diversifiers for each other?
No. With a correlation of 0.88, TK and TNK move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between TK and TNK?
Using weekly returns as of 2026-08-27: 0.88 over 3 years, with 0.94 over the last year and 0.82 over 5 years.
Is TNK a good diversifier for TK?
No. With a correlation of 0.88, TK and TNK move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 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/tk-vs-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tk-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TK correlations · TNK correlations
