Turning Point Correlations

TPB Stock

USD 57.65 0.09 0.16%

The current 90-days correlation between Turning Point Brands and Universal is 0.33 (i.e., Weak diversification). The correlation of Turning Point 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.

Turning Point Correlation With Market

Weak diversification

The correlation between Turning Point Brands and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turning Point Brands 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 Turning Point Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Turning Stock

0.62	PM	Philip Morris Intern	Pair Corr
0.69	PPC	Pilgrims Pride Corp	Pair Corr
0.72	LANC	Lancaster Colony	Pair Corr

Moving against Turning Stock

0.75	BG	Bunge Limited	Pair Corr
0.47	STZ	Constellation Brands	Pair Corr
0.37	SAM	Boston Beer	Pair Corr
0.36	VITL	Vital Farms	Pair Corr
0.61	JBSS	John B Sanfilippo	Pair Corr
0.57	INGR	Ingredion Incorporated	Pair Corr
0.55	OTLY	Oatly Group AB	Pair Corr
0.52	JJSF	J J Snack	Pair Corr
0.4	HAIN	Hain Celestial	Pair Corr
0.37	LWAY	Lifeway Foods	Pair Corr
0.37	RMCF	Rocky Mountain Chocolate	Pair Corr

Related Correlations Analysis

	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO
UVV		0.52	0.45	0.46	0.0	0.73	0.48	0.38	0.39	0.67	UVV
IMBBY	0.52		0.86	0.96	0.0	0.13	0.91	-0.31	0.77	0.86	IMBBY
BTI	0.45	0.86		0.76	0.0	0.22	0.84	-0.31	0.92	0.67	BTI
PM	0.46	0.96	0.76		0.0	0.01	0.88	-0.34	0.67	0.81	PM
VGR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	VGR
JAPAY	0.73	0.13	0.22	0.01	0.0		0.13	0.54	0.26	0.4	JAPAY
IMBBF	0.48	0.91	0.84	0.88	0.0	0.13		-0.27	0.79	0.75	IMBBF
JAPAF	0.38	-0.31	-0.31	-0.34	0.0	0.54	-0.27		-0.28	-0.11	JAPAF
BTAFF	0.39	0.77	0.92	0.67	0.0	0.26	0.79	-0.28		0.6	BTAFF
MO	0.67	0.86	0.67	0.81	0.0	0.4	0.75	-0.11	0.6		MO
	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO

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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

PM	+ 0.96	IMBBY
BTAFF	+ 0.92	BTI
IMBBF	+ 0.91	IMBBY
IMBBF	+ 0.88	PM
BTI	+ 0.86	IMBBY
MO	+ 0.86	IMBBY

High negative correlations

JAPAF	- 0.34	PM
JAPAF	- 0.31	BTI
JAPAF	- 0.31	IMBBY
BTAFF	- 0.28	JAPAF
JAPAF	- 0.27	IMBBF
MO	- 0.11	JAPAF

Risk-Adjusted Indicators

There is a big difference between Turning Stock performing well and Turning Point 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 Turning Point'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
UVV	0.94	(0.02)	0.00	(0.11)	0.00	0.00	1.41	(2.42)	7.86
IMBBY	0.83	0.15	0.19	0.46	0.85	(0.89)	1.76	(1.69)	4.30
BTI	0.94	0.17	0.13	0.60	1.60	(0.98)	2.16	(1.82)	11.81
PM	1.08	0.33	0.28	1.16	1.00	(1.23)	2.26	(1.70)	14.00
VGR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JAPAY	0.79	(0.01)	0.00	(0.14)	0.00	0.00	1.93	(1.78)	5.18
IMBBF	2.01	0.15	0.09	(0.63)	2.24	(2.46)	5.25	(4.25)	12.38
JAPAF	2.43	0.16	0.03	(1.60)	3.33	(5.44)	9.36	(7.49)	20.29
BTAFF	2.35	0.17	0.08	0.71	2.50	(2.74)	5.73	(4.20)	12.43
MO	0.96	0.10	0.15	(37.83)	0.97	(1.04)	2.08	(1.76)	4.82

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