Tortoise Energy Correlations

NDP Fund

USD 44.10 0.11 0.25%

The current 90-days correlation between Tortoise Energy Inde and Flow Capital Corp is 0.21 (i.e., Modest diversification). The correlation of Tortoise Energy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tortoise Energy Correlation With Market

Weak diversification

The correlation between Tortoise Energy Independence and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Energy Independence and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Tortoise Energy Independence. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Tortoise Fund

0.89	PEO	Adams Natural Resources	Pair Corr
0.92	SAGAX	Ridgeworth Innovative	Pair Corr
0.7	GAPIX	Goldman Sachs Equity	Pair Corr
0.87	AMEIX	Equity Growth	Pair Corr
0.84	MLMAX	Global E Portfolio	Pair Corr
0.9	AMGIX	Income Growth	Pair Corr
0.96	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.92	BAC	Bank of America Aggressive Push	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.77	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.92	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.7	HPQ	HP Inc	Pair Corr
0.68	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.85	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.89	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.71	HD	Home Depot	Pair Corr

Moving against Tortoise Fund

0.84	SWZ	Swiss Helvetia Closed	Pair Corr
0.83	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.5	IFN	India Closed	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	NTG	AHFCF	BLRZF	PYCFF	IHTA	JHAA	CBH	CXH	EOT	JEQ
NTG		0.63	-0.76	-0.74	0.87	0.85	0.93	0.2	-0.45	-0.55	NTG
AHFCF	0.63		-0.37	-0.56	0.68	0.54	0.66	0.26	0.1	-0.13	AHFCF
BLRZF	-0.76	-0.37		0.63	-0.82	-0.75	-0.83	0.24	0.53	0.73	BLRZF
PYCFF	-0.74	-0.56	0.63		-0.7	-0.85	-0.83	0.1	0.46	0.56	PYCFF
IHTA	0.87	0.68	-0.82	-0.7		0.86	0.93	-0.03	-0.33	-0.66	IHTA
JHAA	0.85	0.54	-0.75	-0.85	0.86		0.92	-0.03	-0.45	-0.75	JHAA
CBH	0.93	0.66	-0.83	-0.83	0.93	0.92		0.05	-0.43	-0.66	CBH
CXH	0.2	0.26	0.24	0.1	-0.03	-0.03	0.05		0.42	0.34	CXH
EOT	-0.45	0.1	0.53	0.46	-0.33	-0.45	-0.43	0.42		0.48	EOT
JEQ	-0.55	-0.13	0.73	0.56	-0.66	-0.75	-0.66	0.34	0.48		JEQ
	NTG	AHFCF	BLRZF	PYCFF	IHTA	JHAA	CBH	CXH	EOT	JEQ

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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

CBH	+ 0.93	NTG
CBH	+ 0.93	IHTA
CBH	+ 0.92	JHAA
IHTA	+ 0.87	NTG
JHAA	+ 0.86	IHTA
JHAA	+ 0.85	NTG

High negative correlations

JHAA	- 0.85	PYCFF
CBH	- 0.83	PYCFF
CBH	- 0.83	BLRZF
IHTA	- 0.82	BLRZF
BLRZF	- 0.76	NTG
JEQ	- 0.75	JHAA

Risk-Adjusted Indicators

There is a big difference between Tortoise Fund performing well and Tortoise Energy Fund 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 Tortoise Energy'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
NTG	0.84	0.42	0.28	1.32	0.62	(1.01)	2.18	(1.31)	5.67
AHFCF	0.59	0.26	0.00	1.34	0.00	0.00	0.00	0.00	19.61
BLRZF	2.63	(1.57)	0.00	(0.77)	0.00	0.00	0.00	0.00	88.00
PYCFF	0.15	(0.06)	0.00	0.89	0.00	0.00	0.00	0.00	6.39
IHTA	0.24	0.05	(0.15)	2.05	0.25	(0.31)	0.68	(0.27)	2.03
JHAA	0.15	0.02	(0.50)	(2.59)	0.00	(0.20)	0.33	(0.22)	0.96
CBH	0.13	0.04	(0.44)	(0.85)	0.00	(0.18)	0.22	(0.22)	0.78
CXH	0.34	0.05	(0.17)	(0.24)	0.40	(0.38)	0.86	(0.74)	2.10
EOT	0.38	0.03	(0.19)	(6.02)	0.39	(0.44)	0.86	(0.87)	2.08
JEQ	0.86	(0.13)	0.00	(0.07)	0.00	0.00	1.75	(1.79)	4.12

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