Turning Point Correlations

TPB Stock

USD 96.84 0.61 0.63%

The current 90-days correlation between Turning Point Brands and Shelf Drilling is -0.42 (i.e., Very good diversification). The correlation of Turning Point 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.

Turning Point Correlation With Market

Good diversification

The correlation between Turning Point Brands and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turning Point Brands and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Turning Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Turning Point Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Turning Stock

0.75

BTI

British American Tobacco

Pair Corr

Moving against Turning Stock

0.74	IE	Ivanhoe Electric	Pair Corr
0.7	DVLT	Datavault AI Symbol Change	Pair Corr
0.6	VMI	Valmont Industries	Pair Corr
0.42	209111FB4	CONSOLIDATED EDISON	Pair Corr
0.36	53944YAE3	LLOYDS BKG GROUP	Pair Corr
0.35	APRU	Apple Rush	Pair Corr
0.66	PSTV	Plus Therapeutics	Pair Corr
0.6	NBIS	Nebius Group NV Aggressive Push	Pair Corr
0.56	DXR	Daxor	Pair Corr
0.55	HBMHF	HBM Holdings Limited	Pair Corr
0.53	FMXUF	Fomento Econmico Mexicano	Pair Corr
0.43	JXHGF	ENEOS Holdings	Pair Corr
0.42	TSLA	Tesla Inc Aggressive Push	Pair Corr
0.38	AMQFF	Abitibi Metals Corp	Pair Corr
0.36	SHOTW	SHOTW Old Symbol Change	Pair Corr
0.36	NGTF	NightFood Holdings	Pair Corr
0.34	JGLCF	JS Global Lifestyle	Pair Corr

Related Correlations Analysis

	PDS	CCGY	CTLHF	EGDFF	CUAUF	ACRG	ENDMF	SHLLF
PDS		0.0	-0.02	0.0	-0.16	0.16	-0.21	0.03	PDS
CCGY	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CCGY
CTLHF	-0.02	0.0		0.0	-0.19	-0.05	0.02	-0.17	CTLHF
EGDFF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EGDFF
CUAUF	-0.16	0.0	-0.19	0.0		0.34	0.05	0.54	CUAUF
ACRG	0.16	0.0	-0.05	0.0	0.34		-0.13	0.3	ACRG
ENDMF	-0.21	0.0	0.02	0.0	0.05	-0.13		0.65	ENDMF
SHLLF	0.03	0.0	-0.17	0.0	0.54	0.3	0.65		SHLLF
	PDS	CCGY	CTLHF	EGDFF	CUAUF	ACRG	ENDMF	SHLLF

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

SHLLF	+ 0.65	ENDMF
SHLLF	+ 0.54	CUAUF
ACRG	+ 0.34	CUAUF
SHLLF	+ 0.3	ACRG
ACRG	+ 0.16	PDS
ENDMF	+ 0.05	CUAUF

High negative correlations

ENDMF	- 0.21	PDS
CUAUF	- 0.19	CTLHF
SHLLF	- 0.17	CTLHF
CUAUF	- 0.16	PDS
ENDMF	- 0.13	ACRG
ACRG	- 0.05	CTLHF

Risk-Adjusted Indicators

There is a big difference between Turning Stock performing well and Turning Point 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 Turning Point'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
PDS	1.44	0.01	0.00	0.03	1.94	(1.39)	2.72	(3.23)	7.76
CCGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CTLHF	1.49	(0.79)	0.00	(0.55)	0.00	0.00	0.00	0.00	50.00
EGDFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CUAUF	2.48	0.46	0.09	(0.45)	2.60	(5.00)	8.00	(5.80)	26.13
ACRG	1.26	0.10	0.00	(0.46)	0.00	0.00	0.00	0.00	33.99
ENDMF	1.74	(0.06)	0.00	0.15	0.00	0.00	9.09	(8.33)	18.33
SHLLF	1.40	0.41	0.00	0.36	0.00	0.00	4.00	(2.70)	33.60

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