TP ICAP Correlations

TCAP Stock

310.00 1.50 0.49%

The current 90-days correlation between TP ICAP Group and New Residential Investment is -0.02 (i.e., Good diversification). The correlation of TP ICAP 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. If the correlation is 0, the equities are not correlated; they are entirely random.

TP ICAP Correlation With Market

Significant diversification

The correlation between TP ICAP Group and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TP ICAP Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TP ICAP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TP ICAP 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 TP ICAP - 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 TP ICAP Group to buy it.

Moving together with TCAP Stock

0.73	SCP	Schroder UK Mid	Pair Corr
0.75	TFG	Tetragon Financial Earnings Call This Week	Pair Corr
0.81	SMSD	Samsung Electronics Earnings Call This Week	Pair Corr
0.73	KAP	National Atomic	Pair Corr
0.73	EEE	Empire Metals Limited	Pair Corr
0.84	0RP8	Liechtensteinische	Pair Corr
0.84	TBCG	TBC Bank Group	Pair Corr
0.88	0K7F	Aurubis AG	Pair Corr
0.84	ITX	Itaconix plc	Pair Corr
0.93	0RH1	Kinnevik Investment	Pair Corr
0.74	INSE	Inspired Plc	Pair Corr

Moving against TCAP Stock

0.85	LSC	London Security Plc	Pair Corr
0.75	0RJ4	Uniper SE	Pair Corr
0.32	GSC	GS Chain PLC	Pair Corr
0.51	TW	Taylor Wimpey PLC	Pair Corr

Related Correlations Analysis

	OIT	0ROZ	AUTO	0K76	CHRY	EDIN	BMY
OIT		0.9	-0.28	0.69	0.91	0.85	-0.79	OIT
0ROZ	0.9		-0.21	0.8	0.95	0.71	-0.68	0ROZ
AUTO	-0.28	-0.21		0.19	-0.11	0.0	0.47	AUTO
0K76	0.69	0.8	0.19		0.81	0.63	-0.31	0K76
CHRY	0.91	0.95	-0.11	0.81		0.79	-0.64	CHRY
EDIN	0.85	0.71	0.0	0.63	0.79		-0.61	EDIN
BMY	-0.79	-0.68	0.47	-0.31	-0.64	-0.61		BMY
	OIT	0ROZ	AUTO	0K76	CHRY	EDIN	BMY

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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

CHRY	+ 0.95	0ROZ
CHRY	+ 0.91	OIT
0ROZ	+ 0.9	OIT
EDIN	+ 0.85	OIT
CHRY	+ 0.81	0K76
0K76	+ 0.8	0ROZ

High negative correlations

BMY	- 0.79	OIT
BMY	- 0.68	0ROZ
BMY	- 0.64	CHRY
BMY	- 0.61	EDIN
BMY	- 0.31	0K76
AUTO	- 0.28	OIT

Risk-Adjusted Indicators

There is a big difference between TCAP Stock performing well and TP ICAP 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 TP ICAP'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
OIT	1.19	0.35	0.16	10.49	0.84	(1.54)	3.90	(1.77)	8.68
0ROZ	1.90	0.83	0.41	(2.97)	1.00	(2.50)	5.42	(2.70)	12.57
AUTO	0.80	0.10	(0.03)	(0.27)	2.12	(0.81)	1.50	(1.14)	13.28
0K76	1.00	0.31	0.14	18.12	0.94	(1.16)	2.63	(1.82)	6.91
CHRY	0.87	0.33	0.14	(1.33)	0.79	(1.13)	2.38	(1.17)	6.79
EDIN	0.39	0.13	0.00	1.96	0.00	(0.51)	0.94	(0.50)	2.62
BMY	1.60	(0.22)	0.00	(0.28)	0.00	0.00	2.84	(2.47)	22.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in TP ICAP 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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