TravelCenters Correlations

Summary

TANNIDelisted Stock

USD 25.29 0.00 0.00%

The correlation of TravelCenters 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.

TravelCenters Correlation With Market

Significant diversification

The correlation between TravelCenters Of America and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TravelCenters Of America and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TravelCenters Stock

0.88	TANNZ	TravelCenters Of America	Pair Corr
0.71	TANNL	TravelCenters Of America	Pair Corr
0.76	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.69	ESSA	ESSA Bancorp	Pair Corr
0.68	GILD	Gilead Sciences Sell-off Trend	Pair Corr
0.7	HWM	Howmet Aerospace	Pair Corr
0.78	HITI	High Tide	Pair Corr
0.72	COST	Costco Wholesale Corp	Pair Corr
0.76	CSCO	Cisco Systems	Pair Corr
0.63	UAA	Under Armour A	Pair Corr
0.75	HON	Honeywell International Sell-off Trend	Pair Corr
0.63	FVRR	Fiverr International	Pair Corr
0.78	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.61	AAPL	Apple Inc Aggressive Push	Pair Corr
0.61	VFS	VinFast Auto	Pair Corr
0.68	CMPO	CompoSecure	Pair Corr
0.63	TNXP	Tonix Pharmaceuticals	Pair Corr
0.68	GT	Goodyear Tire Rubber	Pair Corr
0.63	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.72	COIN	Coinbase Global	Pair Corr
0.67	CRNT	Ceragon Networks Tech Boost	Pair Corr
0.78	PLTR	Palantir Technologies Buyout Trend	Pair Corr
0.67	LOVE	Lovesac	Pair Corr
0.73	AKBA	Akebia Ther	Pair Corr
0.75	RUM	Rumble Inc	Pair Corr
0.65	RGTI	Rigetti Computing Trending	Pair Corr

Moving against TravelCenters Stock

0.45

CADL

Candel Therapeutics Trending

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.42	-0.28	-0.07	0.51	0.28	0.65	0.43	-0.4	0.02	META
MSFT	0.42		-0.49	0.04	0.36	0.16	0.29	0.17	0.1	-0.72	MSFT
UBER	-0.28	-0.49		0.05	-0.7	0.11	-0.59	-0.46	0.4	0.47	UBER
F	-0.07	0.04	0.05		0.25	-0.54	0.32	0.51	-0.36	0.25	F
T	0.51	0.36	-0.7	0.25		-0.29	0.88	0.85	-0.72	-0.17	T
A	0.28	0.16	0.11	-0.54	-0.29		-0.26	-0.46	0.57	-0.08	A
CRM	0.65	0.29	-0.59	0.32	0.88	-0.26		0.92	-0.83	0.03	CRM
JPM	0.43	0.17	-0.46	0.51	0.85	-0.46	0.92		-0.87	0.11	JPM
MRK	-0.4	0.1	0.4	-0.36	-0.72	0.57	-0.83	-0.87		-0.25	MRK
XOM	0.02	-0.72	0.47	0.25	-0.17	-0.08	0.03	0.11	-0.25		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.92	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
T	+ 0.51	META

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.83	CRM
MRK	- 0.72	T
XOM	- 0.72	MSFT
T	- 0.7	UBER
CRM	- 0.59	UBER

Risk-Adjusted Indicators

There is a big difference between TravelCenters Stock performing well and TravelCenters 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 TravelCenters' 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
META	1.15	0.21	0.11	0.55	1.25	(1.33)	3.22	(1.87)	8.02
MSFT	0.84	0.02	(0.01)	0.12	1.45	(0.79)	1.83	(1.57)	8.14
UBER	1.83	(0.28)	0.00	(0.13)	0.00	0.00	2.69	(5.35)	20.41
F	1.39	0.01	(0.03)	0.13	2.12	(1.42)	2.53	(2.79)	11.21
T	0.97	0.15	0.06	2.52	1.02	(1.08)	2.36	(1.99)	6.74
A	1.22	0.00	(0.04)	0.09	1.46	(1.30)	2.71	(2.41)	9.02
CRM	1.47	0.40	0.29	0.38	1.04	(1.72)	3.59	(1.93)	13.87
JPM	1.01	0.08	0.13	0.13	0.94	(1.19)	1.73	(1.42)	15.87
MRK	0.96	(0.20)	0.00	(0.82)	0.00	0.00	2.00	(2.17)	5.18
XOM	0.89	(0.02)	(0.07)	0.02	1.18	(0.97)	1.83	(1.96)	6.06

TravelCenters Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with TravelCenters stock to make a market-neutral strategy. Peer analysis of TravelCenters could also be used in its relative valuation, which is a method of valuing TravelCenters by comparing valuation metrics with similar companies.

TravelCenters Of America TravelCenters Of America B Riley Financial Sotherly Hotels Series B Riley Financial American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

Still Interested in TravelCenters Of America?

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