Toro Correlations

TTC Stock

USD 73.73 0.33 0.45%

The current 90-days correlation between Toro and Lincoln Electric Holdings is 0.56 (i.e., Very weak diversification). The correlation of Toro 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.

Toro Correlation With Market

Very weak diversification

The correlation between Toro Co and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Toro Co and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Toro Stock refer to our How to Trade Toro Stock guide.

Moving together with Toro Stock

0.64	EML	Eastern	Pair Corr
0.62	KMT	Kennametal	Pair Corr
0.63	RBC	RBC Bearings	Pair Corr
0.75	SWK	Stanley Black Decker	Pair Corr
0.68	TKR	Timken Company	Pair Corr
0.61	J	Jacobs Solutions	Pair Corr
0.66	R	Ryder System Earnings Call This Week	Pair Corr
0.72	AL	Air Lease	Pair Corr
0.71	BA	Boeing	Pair Corr
0.68	BV	BrightView Holdings	Pair Corr
0.69	CP	Canadian Pacific Railway	Pair Corr
0.65	DE	Deere Company	Pair Corr
0.7	FA	First Advantage Corp	Pair Corr
0.61	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.8	HY	Hyster Yale Materials	Pair Corr
0.74	IR	Ingersoll Rand	Pair Corr
0.8	LZ	LegalZoom	Pair Corr

Moving against Toro Stock

0.42	G	Genpact Limited	Pair Corr
0.6	MG	Mistras Group	Pair Corr
0.57	DNOW	Now Inc	Pair Corr

Related Correlations Analysis

	LECO	SNA	TKR	KMT	GGG	DCI	LII	WSO
LECO		0.29	0.96	0.98	0.89	0.84	0.68	-0.27	LECO
SNA	0.29		0.37	0.33	0.41	0.41	0.53	0.32	SNA
TKR	0.96	0.37		0.98	0.96	0.94	0.75	-0.26	TKR
KMT	0.98	0.33	0.98		0.93	0.9	0.72	-0.29	KMT
GGG	0.89	0.41	0.96	0.93		0.97	0.76	-0.28	GGG
DCI	0.84	0.41	0.94	0.9	0.97		0.66	-0.39	DCI
LII	0.68	0.53	0.75	0.72	0.76	0.66		0.34	LII
WSO	-0.27	0.32	-0.26	-0.29	-0.28	-0.39	0.34		WSO
	LECO	SNA	TKR	KMT	GGG	DCI	LII	WSO

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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

KMT	+ 0.98	LECO
KMT	+ 0.98	TKR
DCI	+ 0.97	GGG
TKR	+ 0.96	LECO
GGG	+ 0.96	TKR
DCI	+ 0.94	TKR

High negative correlations

WSO	- 0.39	DCI
WSO	- 0.29	KMT
WSO	- 0.28	GGG
WSO	- 0.27	LECO
WSO	- 0.26	TKR

Risk-Adjusted Indicators

There is a big difference between Toro Stock performing well and Toro 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 Toro'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
LECO	1.25	0.16	0.12	0.26	1.25	(1.35)	2.95	(2.05)	8.18
SNA	1.14	(0.17)	(0.06)	0.01	1.85	(1.20)	2.15	(1.92)	8.05
TKR	1.34	0.21	0.19	0.28	0.99	(1.61)	3.51	(1.74)	10.19
KMT	1.37	0.25	0.20	0.34	1.01	(1.63)	3.33	(2.09)	8.75
GGG	0.94	(0.02)	0.00	0.11	0.93	(1.14)	1.98	(1.68)	6.27
DCI	0.87	0.03	0.03	0.16	0.73	(1.01)	2.59	(1.48)	6.30
LII	1.38	0.01	0.01	0.14	2.26	(1.36)	3.01	(2.24)	12.29
WSO	1.27	(0.20)	0.00	(0.14)	0.00	0.00	2.57	(2.51)	13.09

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