INSW vs. NAT

Last updated Jun 23, 2026

INSW (International Seaways, Inc.) and NAT (Nordic American Tankers Limited) are both stocks. INSW operates in Oil & Gas Midstream (Energy), while NAT operates in Marine Shipping (Industrials). Over the past 5 years, INSW returned 50.07%/yr vs 23.54%/yr for NAT. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

INSW vs. NAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in International Seaways, Inc. (INSW) and Nordic American Tankers Limited (NAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with INSW having a 98.69% return and NAT slightly lower at 94.17%.

INSW

• 1D: 4.64%
• 1M: 12.03%
• YTD: 98.69%
• 6M: 97.84%
• 1Y: 148.32%
• 3Y*: 49.17%
• 5Y*: 50.07%
• 10Y*: —

NAT

• 1D: 6.15%
• 1M: 19.96%
• YTD: 94.17%
• 6M: 95.31%
• 1Y: 159.58%
• 3Y*: 33.66%
• 5Y*: 23.54%
• 10Y*: -0.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

INSW vs. NAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INSW International Seaways, Inc.	98.69%	44.97%	-10.85%	42.93%	162.53%	-2.93%	-44.43%	76.72%	-8.78%	31.48%
NAT Nordic American Tankers Limited	94.17%	54.57%	-33.63%	55.83%	87.90%	-41.48%	-32.82%	156.48%	-13.56%	-68.39%

Correlation

The correlation between INSW and NAT is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Dec 1, 2016	0.61

The correlation between INSW and NAT shifts across timeframes, from 0.61 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap INSW : $4.40B NAT : $1.31B
EPS INSW : $11.01 NAT : $0.26
PE Ratio INSW : 8.03 NAT : 24.21
PEG Ratio INSW : 1.27 NAT : 0.30
PS Ratio INSW : 6.49 NAT : 3.94
PB Ratio INSW : 2.00 NAT : 2.88
Total Revenue (TTM) INSW : $675.87M NAT : $334.09M
Gross Profit (TTM) INSW : $274.33M NAT : $97.31M
EBITDA (TTM) INSW : $525.75M NAT : $132.71M

Return for Risk

INSW vs. NAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INSW

INSW Risk / Return Rank: 97
INSW Sharpe Ratio Rank: 98
INSW Sortino Ratio Rank: 97
INSW Omega Ratio Rank: 95
INSW Calmar Ratio Rank: 97
INSW Martin Ratio Rank: 97

NAT

NAT Risk / Return Rank: 97
NAT Sharpe Ratio Rank: 98
NAT Sortino Ratio Rank: 97
NAT Omega Ratio Rank: 96
NAT Calmar Ratio Rank: 97
NAT Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INSW vs. NAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for International Seaways, Inc. (INSW) and Nordic American Tankers Limited (NAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	INSW	NAT	Difference
Sharpe ratio: Return per unit of total volatility	4.08	4.33	-0.26
Sortino ratio: Return per unit of downside risk	4.72	4.86	-0.13
Omega ratio: Gain probability vs. loss probability	1.54	1.58	-0.04
Calmar ratio: Return relative to maximum drawdown	9.23	8.70	+0.53
Martin ratio: Return relative to average drawdown	26.77	27.39	-0.62

INSW vs. NAT - Sharpe Ratio Comparison

The current INSW Sharpe Ratio is 4.08, which is comparable to the NAT Sharpe Ratio of 4.33. The chart below compares the historical Sharpe Ratios of INSW and NAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INSW vs. NAT - Drawdown Comparison

The maximum INSW drawdown since its inception was -57.49%, smaller than the maximum NAT drawdown of -90.20%. Use the drawdown chart below to compare losses from any high point for INSW and NAT.

Drawdown Indicators

	INSW	NAT	Difference
Max Drawdown Largest peak-to-trough decline	-57.49%	-90.20%	+32.71%
Max Drawdown (1Y) Largest decline over 1 year	-16.16%	-18.45%	+2.29%
Max Drawdown (3Y) Largest decline over 3 years	-50.40%	-46.31%	-4.09%
Max Drawdown (5Y) Largest decline over 5 years	-50.40%	-58.72%	+8.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-85.97%	—
Current Drawdown Current decline from peak	0.00%	-31.49%	+31.49%
Average Drawdown Average peak-to-trough decline	-20.85%	-43.99%	+23.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.63%	5.85%	-0.22%

Volatility

INSW vs. NAT - Volatility Comparison

The current volatility for International Seaways, Inc. (INSW) is 11.01%, while Nordic American Tankers Limited (NAT) has a volatility of 13.08%. This indicates that INSW experiences smaller price fluctuations and is considered to be less risky than NAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INSW	NAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.01%	13.08%	-2.07%
Volatility (6M) Calculated over the trailing 6-month period	28.32%	29.44%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	36.69%	37.15%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.12%	51.28%	-10.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.29%	58.12%	-12.83%

Dividends

INSW vs. NAT - Dividend Comparison

INSW's dividend yield for the trailing twelve months is around 9.42%, less than NAT's 9.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INSW International Seaways, Inc.	9.42%	6.04%	16.05%	13.83%	3.84%	9.26%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%
NAT Nordic American Tankers Limited	9.98%	10.47%	16.00%	11.67%	3.59%	3.55%	15.25%	2.03%	8.00%	21.54%	16.31%	8.88%

Financials

Frequently Asked Questions

Can I hold both INSW and NAT in my portfolio?

INSW and NAT have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INSW or NAT?

NAT has higher volatility (13.08%) compared to INSW (11.01%). In terms of maximum drawdown, INSW dropped -57.49% vs NAT's -90.20%.

Which has better risk-adjusted returns?

NAT currently has the higher Sharpe Ratio (4.33 vs 4.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.