TORM plc Class A Common Stock (TRMD) — Stock Correlations & Overview
Over the past year, TRMD has moved most closely with HAFN, ASC, INSW. Explore the stocks most correlated and inversely correlated with TRMD below, along with its price, financials, and company profile.
Stocks correlated with TRMD
Correlation of daily returns. Higher positive values move with TRMD; negative values move opposite it. Informational only, not investment advice.
Most correlated with TRMD
| Symbol | Company | Correlation |
|---|---|---|
| HAFN | Hafnia Limited | 0.84 |
| ASC | ARDMORE SHIPPING CORPORATION | 0.80 |
| INSW | International Seaways, Inc. Common StockWATER TRANSPORTATION | 0.80 |
| TNK | Teekay Tankers Ltd. | 0.78 |
| STNG | Scorpio Tankers Inc. | 0.77 |
Most inversely correlated with TRMD
| Symbol | Company | Correlation |
|---|---|---|
| BZQ | ProShares UltraShort MSCI Brazil Capped | -0.27 |
| MSTZ | T-Rex 2X Inverse MSTR Daily Target ETF | -0.21 |
| SMST | Tidal Trust II Defiance Daily Target 2x Short MSTR ETF | -0.21 |
| EWV | ProShares Trust UltraShort MSCI Japan | -0.21 |
| WOOF | Petco Health and Wellness Company, Inc. Class A Common StockRETAIL-RETAIL STORES, NEC | -0.21 |
Frequently asked questions about TRMD correlations
- Which stocks are most correlated with TRMD?
- Based on one year of daily returns, the stocks most correlated with TORM plc Class A Common Stock (TRMD) are HAFN (0.84), ASC (0.80) and INSW (0.80). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with TRMD?
- Over the past year, the stocks most inversely correlated with TORM plc Class A Common Stock (TRMD) are BZQ (-0.27), MSTZ (-0.21) and SMST (-0.21). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these TRMD correlations calculated?
- We compute the correlation of daily returns between TRMD and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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