Tetra Technologies Correlations
TTI Stock | USD 3.33 0.01 0.30% |
The current 90-days correlation between Tetra Technologies and NPK International is 0.26 (i.e., Modest diversification). The correlation of Tetra Technologies 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.
Tetra Technologies Correlation With Market
Modest diversification
The correlation between Tetra Technologies and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tetra Technologies and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Tetra Stock
0.9 | BOOM | Dmc Global | PairCorr |
0.76 | J | Jacobs Solutions | PairCorr |
0.69 | R | Ryder System Earnings Call This Week | PairCorr |
0.72 | AL | Air Lease | PairCorr |
0.61 | AP | Ampco Pittsburgh | PairCorr |
0.79 | AZ | A2Z Smart Technologies | PairCorr |
0.7 | BA | Boeing | PairCorr |
0.81 | BE | Bloom Energy Corp | PairCorr |
0.79 | BW | Babcock Wilcox Enter | PairCorr |
0.84 | CR | Crane Company | PairCorr |
0.84 | CW | Curtiss Wright | PairCorr |
0.71 | DE | Deere Company | PairCorr |
0.79 | DY | Dycom Industries | PairCorr |
0.62 | GD | General Dynamics Earnings Call This Week | PairCorr |
0.72 | GE | GE Aerospace Earnings Call This Week | PairCorr |
0.74 | IR | Ingersoll Rand | PairCorr |
0.83 | NX | Quanex Building Products | PairCorr |
0.75 | OP | Oceanpal | PairCorr |
Moving against Tetra Stock
0.53 | SPLP | Steel Partners Holdings | PairCorr |
0.49 | G | Genpact Limited | PairCorr |
0.43 | MDU | MDU Resources Group | PairCorr |
0.67 | NL | NL Industries | PairCorr |
0.59 | GP | GreenPower Motor | PairCorr |
0.53 | MG | Mistras Group | PairCorr |
Related Correlations Analysis
0.25 | 0.87 | 0.8 | 0.04 | 0.09 | NPKI | ||
0.25 | 0.35 | 0.11 | 0.41 | 0.59 | HLX | ||
0.87 | 0.35 | 0.87 | 0.34 | 0.41 | OIS | ||
0.8 | 0.11 | 0.87 | 0.16 | 0.27 | SEI | ||
0.04 | 0.41 | 0.34 | 0.16 | 0.61 | RES | ||
0.09 | 0.59 | 0.41 | 0.27 | 0.61 | INVX | ||
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Risk-Adjusted Indicators
There is a big difference between Tetra Stock performing well and Tetra Technologies 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 Tetra Technologies' 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
NPKI | 1.91 | 0.64 | 0.41 | 0.74 | 1.08 | 4.48 | 28.96 | |||
HLX | 2.11 | (0.09) | (0.06) | (0.01) | 2.38 | 4.91 | 15.24 | |||
OIS | 2.74 | 0.64 | 0.23 | 0.86 | 2.15 | 5.99 | 28.48 | |||
SEI | 3.33 | 0.72 | 0.19 | 0.73 | 3.34 | 8.55 | 30.37 | |||
RES | 1.96 | 0.03 | (0.05) | (0.01) | 2.31 | 4.11 | 11.92 | |||
INVX | 1.76 | (0.01) | (0.03) | 0.12 | 2.11 | 4.19 | 12.94 |