TPG Correlations

TPG Stock

USD 54.77 1.39 2.48%

The current 90-days correlation between TPG Inc and Ares Management LP is 0.74 (i.e., Poor diversification). The correlation of TPG 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.

TPG Correlation With Market

Weak diversification

The correlation between TPG Inc and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TPG 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 TPG 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 american community survey.

Moving together with TPG Stock

0.72	DHIL	Diamond Hill Investment Earnings Call Today	Pair Corr
0.87	AMG	Affiliated Managers	Pair Corr
0.62	FHI	Federated Investors	Pair Corr
0.67	JXN	Jackson Financial	Pair Corr
0.68	SYF	Synchrony Financial	Pair Corr
0.78	PYPL	PayPal Holdings	Pair Corr
0.76	AX	Axos Financial	Pair Corr
0.94	BX	Blackstone Group	Pair Corr

Moving against TPG Stock

0.66	TSLX	Sixth Street Specialty	Pair Corr
0.64	V	Visa Class A	Pair Corr
0.61	FDUS	Fidus Investment Corp	Pair Corr
0.55	GBDC	Golub Capital BDC	Pair Corr
0.51	MA	Mastercard	Pair Corr
0.37	NMFC	New Mountain Finance	Pair Corr
0.32	CGBD	Carlyle Secured Lending	Pair Corr
0.65	LX	Lexinfintech Holdings	Pair Corr
0.54	DB	Deutsche Bank AG	Pair Corr
0.53	GL	Globe Life	Pair Corr
0.43	C	Citigroup	Pair Corr
0.43	AC	Associated Capital	Pair Corr
0.43	LU	Lufax Holding	Pair Corr
0.42	PT	Pintec Technology	Pair Corr
0.33	BK	Bank of New York	Pair Corr

Related Correlations Analysis

	ARES	PAX	APO	CION	KKR	BX	CGBD	CG	BAM	OWL
ARES		0.01	0.11	-0.22	0.43	-0.02	0.77	0.69	0.51	0.77	ARES
PAX	0.01		0.28	0.48	0.11	0.4	-0.36	0.22	0.57	0.29	PAX
APO	0.11	0.28		-0.29	0.76	0.79	-0.2	0.43	0.17	0.51	APO
CION	-0.22	0.48	-0.29		-0.29	-0.04	-0.39	-0.12	0.31	-0.04	CION
KKR	0.43	0.11	0.76	-0.29		0.81	0.03	0.79	0.28	0.75	KKR
BX	-0.02	0.4	0.79	-0.04	0.81		-0.42	0.56	0.16	0.48	BX
CGBD	0.77	-0.36	-0.2	-0.39	0.03	-0.42		0.37	0.28	0.36	CGBD
CG	0.69	0.22	0.43	-0.12	0.79	0.56	0.37		0.56	0.8	CG
BAM	0.51	0.57	0.17	0.31	0.28	0.16	0.28	0.56		0.58	BAM
OWL	0.77	0.29	0.51	-0.04	0.75	0.48	0.36	0.8	0.58		OWL
	ARES	PAX	APO	CION	KKR	BX	CGBD	CG	BAM	OWL

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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

BX	+ 0.81	KKR
OWL	+ 0.8	CG
BX	+ 0.79	APO
CG	+ 0.79	KKR
CGBD	+ 0.77	ARES
OWL	+ 0.77	ARES

High negative correlations

CGBD	- 0.42	BX
CGBD	- 0.39	CION
CGBD	- 0.36	PAX
KKR	- 0.29	CION
CION	- 0.29	APO
CION	- 0.22	ARES

Risk-Adjusted Indicators

There is a big difference between TPG Stock performing well and TPG 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 TPG'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
ARES	1.42	0.01	0.00	0.01	2.18	(1.26)	2.41	(3.72)	8.71
PAX	1.49	0.02	0.01	0.05	2.15	(1.44)	2.94	(2.62)	12.26
APO	1.51	(0.18)	0.00	(0.18)	0.00	0.00	2.93	(3.93)	9.30
CION	0.79	0.14	0.15	1.83	0.79	(0.96)	1.65	(1.74)	4.65
KKR	1.68	(0.23)	0.00	(0.17)	0.00	0.00	3.61	(3.70)	13.29
BX	1.51	(0.21)	0.00	(0.16)	0.00	0.00	2.60	(3.37)	11.08
CGBD	0.73	0.13	0.11	1.17	1.00	(0.73)	1.26	(1.35)	5.90
CG	1.50	(0.05)	0.00	(0.04)	0.00	0.00	3.03	(3.68)	10.04
BAM	1.42	0.05	0.02	0.07	2.13	(1.45)	3.18	(2.87)	10.20
OWL	1.74	(0.10)	0.00	(0.09)	0.00	0.00	3.65	(4.20)	11.59

TPG Corporate Management

Doug Bouquard	Partner	Profile
Sean Berg	Chief Officer	Profile
Ayanna Clunis	Partner Operations	Profile
Bradford JD	General Secretary	Profile
Martin CPA	Chief Officer	Profile
Simit Batra	Principal	Profile
Bradford Berenson	General Secretary	Profile

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