Tucows Correlations

TCX Stock

USD 19.15 4.02 26.57%

The current 90-days correlation between Tucows Inc and Diamond Hill Investment is 0.23 (i.e., Modest diversification). The correlation of Tucows 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.

Tucows Correlation With Market

Good diversification

The correlation between Tucows Inc and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tucows Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Tucows Stock

0.4	BB	BlackBerry Aggressive Push	Pair Corr
0.38	EXOD	Exodus Movement,	Pair Corr
0.32	VRAR	Glimpse Group	Pair Corr
0.45	HCP	Hashicorp	Pair Corr
0.33	VHC	VirnetX Holding Corp	Pair Corr
0.31	NET	Cloudflare	Pair Corr

Related Correlations Analysis

	NVEE	DHIL	MLAB	WINA	INBK
NVEE		0.94	-0.86	0.71	0.87	NVEE
DHIL	0.94		-0.87	0.74	0.92	DHIL
MLAB	-0.86	-0.87		-0.53	-0.76	MLAB
WINA	0.71	0.74	-0.53		0.88	WINA
INBK	0.87	0.92	-0.76	0.88		INBK
	NVEE	DHIL	MLAB	WINA	INBK

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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

DHIL	+ 0.94	NVEE
INBK	+ 0.92	DHIL
INBK	+ 0.88	WINA
INBK	+ 0.87	NVEE
WINA	+ 0.74	DHIL
WINA	+ 0.71	NVEE

High negative correlations

MLAB	- 0.87	DHIL
MLAB	- 0.86	NVEE
INBK	- 0.76	MLAB
WINA	- 0.53	MLAB

Risk-Adjusted Indicators

There is a big difference between Tucows Stock performing well and Tucows 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 Tucows' 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
NVEE	1.33	(0.43)	0.00	(1.48)	0.00	0.00	3.10	(3.11)	8.95
DHIL	0.87	(0.19)	0.00	(0.24)	0.00	0.00	1.67	(2.53)	5.73
MLAB	2.38	0.34	0.13	0.25	2.39	(2.63)	4.83	(4.12)	13.54
WINA	1.28	(0.09)	0.00	(0.19)	0.00	0.00	2.72	(2.95)	8.64
INBK	1.66	(0.26)	0.00	(0.35)	0.00	0.00	3.17	(3.27)	13.95

Tucows Corporate Management

David Woroch	Executive VP of Wholesale	Profile
Ivan Ivanov	Chief Officer	Profile
Jenn Didine	Vice People	Profile
Michael Koenig	Chief Officer	Profile
Thorsten Einig	Managing Europe	Profile

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