Tandy Leather Correlations

TLF Stock

USD 3.08 0.05 1.65%

The current 90-days correlation between Tandy Leather Factory and MOGU Inc is 0.1 (i.e., Average diversification). The correlation of Tandy Leather 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.

Tandy Leather Correlation With Market

Good diversification

The correlation between Tandy Leather Factory and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tandy Leather Factory and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tandy Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tandy Leather Factory. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Tandy Stock

0.66	AZI	Autozi Internet Tech	Pair Corr
0.79	URBN	Urban Outfitters	Pair Corr

Moving against Tandy Stock

0.78	HNHPF	Hon Hai Precision Tech Boost	Pair Corr
0.77	ROST	Ross Stores	Pair Corr
0.67	PLCE	Childrens Place	Pair Corr
0.6	XELB	Xcel Brands	Pair Corr
0.49	JD	JD Inc Adr	Pair Corr
0.46	WMT	Walmart	Pair Corr
0.36	V2RETAIL	V2 Retail Limited	Pair Corr
0.92	NGL	NGL Energy Partners	Pair Corr
0.92	ITRG	Integra Resources Corp	Pair Corr
0.88	QVCGA	QVC Group Symbol Change	Pair Corr
0.74	TTI	Tetra Technologies Earnings Call This Week	Pair Corr
0.7	SVM	Silvercorp Metals	Pair Corr
0.7	MXC	Mexco Energy	Pair Corr
0.68	FBYD	Falcons Beyond Global,	Pair Corr
0.57	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.56	FINN	First National	Pair Corr
0.54	RTX	Raytheon Technologies	Pair Corr
0.54	RKLB	Rocket Lab USA	Pair Corr
0.5	WTRG	Essential Utilities	Pair Corr
0.41	WWR	Westwater Resources	Pair Corr
0.91	RDNT	RadNet Inc	Pair Corr
0.86	ASYS	Amtech Systems	Pair Corr
0.81	ELME	Elme Communities	Pair Corr
0.81	TIMB	TIM Participacoes	Pair Corr
0.8	HQH	Tekla Healthcare Inv	Pair Corr
0.8	DC	Dakota Gold Corp	Pair Corr
0.79	BDVB	Bagger Daves Burger	Pair Corr
0.73	EJPRY	East Japan Railway Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SBDS	ZOOZ	MOGU	KMRK	LITB	ARKR	ROLR	NTRP	LGCB	MI
SBDS		0.36	0.65	0.17	0.47	0.23	0.61	-0.37	-0.25	0.55	SBDS
ZOOZ	0.36		0.3	0.48	0.22	-0.03	0.3	0.19	0.16	0.39	ZOOZ
MOGU	0.65	0.3		0.24	0.7	-0.34	0.73	-0.33	-0.19	0.55	MOGU
KMRK	0.17	0.48	0.24		-0.01	0.17	0.11	0.42	0.4	-0.01	KMRK
LITB	0.47	0.22	0.7	-0.01		-0.45	0.66	-0.52	-0.46	0.75	LITB
ARKR	0.23	-0.03	-0.34	0.17	-0.45		-0.31	0.16	0.26	-0.34	ARKR
ROLR	0.61	0.3	0.73	0.11	0.66	-0.31		-0.37	-0.42	0.65	ROLR
NTRP	-0.37	0.19	-0.33	0.42	-0.52	0.16	-0.37		0.56	-0.39	NTRP
LGCB	-0.25	0.16	-0.19	0.4	-0.46	0.26	-0.42	0.56		-0.54	LGCB
MI	0.55	0.39	0.55	-0.01	0.75	-0.34	0.65	-0.39	-0.54		MI
	SBDS	ZOOZ	MOGU	KMRK	LITB	ARKR	ROLR	NTRP	LGCB	MI

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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

MI	+ 0.75	LITB
ROLR	+ 0.73	MOGU
LITB	+ 0.7	MOGU
ROLR	+ 0.66	LITB
MOGU	+ 0.65	SBDS
MI	+ 0.65	ROLR

High negative correlations

MI	- 0.54	LGCB
NTRP	- 0.52	LITB
LGCB	- 0.46	LITB
ARKR	- 0.45	LITB
LGCB	- 0.42	ROLR
MI	- 0.39	NTRP

Risk-Adjusted Indicators

There is a big difference between Tandy Stock performing well and Tandy Leather 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 Tandy Leather'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
SBDS	5.84	(0.28)	0.00	(0.06)	0.00	0.00	13.01	(16.68)	64.81
ZOOZ	7.11	(0.44)	0.00	(0.11)	0.00	0.00	16.60	(13.87)	74.46
MOGU	4.26	1.04	0.18	(0.50)	3.88	(5.85)	5.48	(6.55)	100.40
KMRK	5.53	(0.70)	0.00	(0.22)	0.00	0.00	16.94	(10.26)	34.94
LITB	4.42	1.28	0.26	5.18	3.82	(5.77)	11.23	(7.44)	47.32
ARKR	2.09	(0.19)	0.00	0.20	0.00	0.00	4.17	(5.76)	18.69
ROLR	4.14	0.37	0.05	(0.27)	4.51	(4.66)	10.86	(6.69)	22.88
NTRP	3.71	(0.24)	0.00	(0.34)	0.00	0.00	9.84	(7.79)	26.86
LGCB	3.62	(0.53)	0.00	0.69	0.00	0.00	9.42	(9.62)	28.02
MI	4.11	0.40	0.06	1.14	5.10	(4.80)	8.47	(9.58)	46.69

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