TNK vs TRMD: Correlation
Teekay Tankers Ltd. (TNK) 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 TNK and TRMD?
Over the past 3 years, TNK and TRMD moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1179.7 %².
Among the 18 assets we track against TNK, TRMD ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TNK ahead by 25.9 points (+87.3% 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.
TNK vs TRMD: side by side
| TNK (Teekay Tankers Ltd.) | TRMD (TORM plc) | |
|---|---|---|
| 1-year return | +87.3% | +61.4% |
| 5-year return | +813.1% | +679.6% |
| Volatility (ann.) | 38.5% | 39.6% |
| Beta vs S&P 500 | 0.51 | 0.60 |
| Max drawdown (3Y) | -52.4% | -60.6% |
| Market cap | $3.1B | $3.3B |
| P/E (trailing) | 4.9 | 5.2 |
| Dividend yield | 1.20% | 7.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TNK | TRMD |
|---|---|---|
| 2022 | +182.7% | +297.7% |
| 2023 | +69.2% | +31.6% |
| 2024 | -16.6% | -23.5% |
| 2025 | +39.6% | +11.3% |
| 2026 | +68.9% | +70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TNK and TRMD good diversifiers for each other?
Only partially. A correlation of 0.77 means TNK and TRMD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between TNK and TRMD?
As of 2026-08-27, the correlation of weekly returns between TNK and TRMD is 0.77 over 3 years, 0.84 over 1 year and 0.65 over 5 years.
Is TRMD a good diversifier for TNK?
Only partially. A correlation of 0.77 means TNK and TRMD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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
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Related comparisons
Hubs: TNK correlations · TRMD correlations
