Turtle Beach Related Correlations

HEAR Stock  USD 17.24  0.05  0.29%   
Generate correlation matrix for Turtle Beach and other related equities to check the degree to which Turtle Beach Corp price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Turtle Beach Corp. To filter out specific equities, please toggle its corresponding legend item. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Turtle Beach Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
Specify up to 10 symbols:
Is Turtle Beach's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Turtle Beach. If investors know Turtle will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Turtle Beach listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.73)
Earnings Share
(1.03)
Revenue Per Share
15.064
Quarterly Revenue Growth
(0.01)
Return On Assets
(0.06)
The market value of Turtle Beach Corp is measured differently than its book value, which is the value of Turtle that is recorded on the company's balance sheet. Investors also form their own opinion of Turtle Beach's value that differs from its market value or its book value, called intrinsic value, which is Turtle Beach's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Turtle Beach's market value can be influenced by many factors that don't directly affect Turtle Beach's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Turtle Beach's value and its price as these two are different measures arrived at by different means. Investors typically determine if Turtle Beach is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Turtle Beach's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
DOOOMBUU
VEEEMBUU
BCMCFT
MICSDOGZ
VEEEDOOO
MODGMCFT
  
High negative correlations   
RLMBUU
VEEERL
DOOORL
DOGZMBUU
VEEEDOGZ
DOOODOGZ

Risk-Adjusted Indicators

There is a big difference between Turtle Stock performing well and Turtle Beach 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 Turtle Beach'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MBUU  2.05 (0.63) 0.00 (0.15) 0.00 
 3.62 
 20.87 
MCFT  1.71 (0.27)(0.05) 0.00  2.45 
 3.68 
 12.10 
BC  1.41 (0.25)(0.07) 0.00  1.85 
 2.74 
 9.44 
RL  1.33  0.20  0.16  0.27  1.21 
 2.03 
 20.47 
UA  1.79 (0.65) 0.00 (0.13) 0.00 
 3.54 
 15.25 
DOGZ  9.18  1.39  0.12  0.77  10.99 
 25.25 
 111.90 
MICS  4.33 (0.07)(0.02) 0.02  4.84 
 6.78 
 45.77 
DOOO  1.42 (0.31) 0.00 (0.09) 0.00 
 3.07 
 8.53 
VEEE  3.42 (0.34) 0.00  0.78  0.00 
 7.76 
 20.41 
MODG  2.08 (0.16) 0.04  0.07  2.14 
 3.87 
 15.20