Tractor Supply Correlations

T1SC34 Stock

BRL 15.74 0.06 0.38%

The current 90-days correlation between Tractor Supply and Paycom Software is -0.19 (i.e., Good diversification). The correlation of Tractor Supply is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Tractor Supply Correlation With Market

Modest diversification

The correlation between Tractor Supply and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tractor Supply and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Tractor Supply could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tractor Supply when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Tractor Supply - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Tractor Supply to buy it.

Moving together with Tractor Stock

0.62

JDCO34

JD Inc

Pair Corr

Moving against Tractor Stock

0.74	T1TW34	Take Two Interactive	Pair Corr
0.67	BIET39	BIET39	Pair Corr
0.66	CTKA4	Karsten SA	Pair Corr
0.61	MTRE3	Mitre Realty Empreen	Pair Corr
0.59	MELI34	MercadoLibre	Pair Corr
0.54	U1LT34	Ulta Beauty	Pair Corr
0.54	AIRB34	Airbnb Inc	Pair Corr
0.54	PYPL34	PayPal Holdings	Pair Corr
0.51	B1BW34	Bath Body Works	Pair Corr
0.49	WALM34	Walmart	Pair Corr
0.42	IBMB34	International Business	Pair Corr
0.4	AMZO34	Amazon Inc	Pair Corr
0.39	UNIP6	Unipar Carbocloro	Pair Corr
0.38	A1AP34	Advance Auto Parts	Pair Corr
0.35	TMCO34	Toyota Motor	Pair Corr

Related Correlations Analysis

	MTSA4	FRIO3	C1AH34	P1YC34	COWC34	C1HK34	MATD3
MTSA4		-0.21	0.27	0.2	-0.12	0.26	0.09	MTSA4
FRIO3	-0.21		-0.41	-0.01	0.16	0.46	-0.34	FRIO3
C1AH34	0.27	-0.41		0.61	0.47	-0.55	0.71	C1AH34
P1YC34	0.2	-0.01	0.61		0.35	-0.21	0.61	P1YC34
COWC34	-0.12	0.16	0.47	0.35		-0.36	0.5	COWC34
C1HK34	0.26	0.46	-0.55	-0.21	-0.36		-0.68	C1HK34
MATD3	0.09	-0.34	0.71	0.61	0.5	-0.68		MATD3
	MTSA4	FRIO3	C1AH34	P1YC34	COWC34	C1HK34	MATD3

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MATD3	+ 0.71	C1AH34
P1YC34	+ 0.61	C1AH34
MATD3	+ 0.61	P1YC34
MATD3	+ 0.5	COWC34
COWC34	+ 0.47	C1AH34
C1HK34	+ 0.46	FRIO3

High negative correlations

MATD3	- 0.68	C1HK34
C1HK34	- 0.55	C1AH34
C1AH34	- 0.41	FRIO3
C1HK34	- 0.36	COWC34
MATD3	- 0.34	FRIO3
C1HK34	- 0.21	P1YC34

Risk-Adjusted Indicators

There is a big difference between Tractor Stock performing well and Tractor Supply Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Tractor Supply's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MTSA4	1.68	(0.01)	0.00	0.10	0.00	0.00	2.64	(4.30)	11.41
FRIO3	1.06	(0.29)	0.00	(132.06)	0.00	0.00	1.06	(3.77)	21.46
C1AH34	0.50	0.22	0.00	3.68	0.00	0.00	0.00	0.00	16.55
P1YC34	1.12	0.06	0.00	(0.36)	1.63	(2.24)	3.46	(3.72)	22.07
COWC34	1.56	0.05	0.00	(0.32)	1.98	(1.72)	4.25	(3.87)	11.16
C1HK34	0.17	(0.09)	0.00	0.62	0.00	0.00	0.00	0.00	3.46
MATD3	2.52	0.43	0.13	17.26	2.61	(3.12)	5.41	(5.58)	13.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tractor Supply without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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