Objective: To assess the relationship between SHBG and 18 other hormonal and metabolic parameters in well characterized, normally cycling premenopausal women., Design: Cross-sectional study., Setting: University general clinical research center., Subject(s): A total of 319 young healthy women with ovulatory menstrual cycles., Intervention(s): None., Main Outcome Measure(s): Midfollicular serum SHBG concentrations., Result(s): In our final linear regression model, SHBG was negatively associated with bioavailable T and positively associated with adiponectin, associations that were independent from other parameters. SHBG was also positively associated with estrone sulfate, but only when taking into account confounding variables. Unexpectedly, there was no straightforward relationship between SHBG and insulin resistance according to homeostasis-model assessment., Conclusion(s): Our results highlight the link between androgen action, as reflected by bioavailable T, and circulating SHBG concentrations in all premenopausal women and speak to the importance of the relationship between SHBG and adiponectin, which is at least in part independent from androgen action., Clinical Trial Registration Number: NCT00393172., (Copyright © 2015 American Society for Reproductive Medicine. Published by Elsevier Inc. All rights reserved.)