TPI Composites Correlations

TPIC Stock

USD 0.89 0.12 12.21%

The correlation of TPI Composites 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.

TPI Composites Correlation With Market

Significant diversification

The correlation between TPI Composites and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TPI Composites 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 TPI Composites. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade TPI Stock refer to our How to Trade TPI Stock guide.

Moving together with TPI Stock

0.86	BW	Babcock Wilcox Enter	Pair Corr
0.75	MKDW	MKDWELL Tech Ordinary	Pair Corr
0.82	NPWR	NET Power	Pair Corr
0.79	CVV	CVD Equipment Earnings Call This Week	Pair Corr
0.77	GHM	Graham	Pair Corr
0.79	MIR	Mirion Technologies	Pair Corr
0.87	XMTR	Xometry	Pair Corr

Moving against TPI Stock

0.54	EPAC	Enerpac Tool Group	Pair Corr
0.54	FELE	Franklin Electric	Pair Corr
0.45	MIDD	Middleby Corp	Pair Corr
0.34	GE	GE Aerospace	Pair Corr
0.79	OTIS	Otis Worldwide Corp	Pair Corr
0.72	MWA	Mueller Water Products	Pair Corr
0.59	CYD	China Yuchai Interna Downward Rally	Pair Corr
0.43	ITW	Illinois Tool Works	Pair Corr
0.36	GGG	Graco Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	CIR	BW	FELE	CR	LXFR	CSWI	WTS	TAYD	EPAC	JBT
CIR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CIR
BW	0.0		-0.65	-0.12	0.21	0.47	-0.62	0.66	-0.63	0.0	BW
FELE	0.0	-0.65		0.55	0.38	-0.2	0.85	-0.41	0.89	0.0	FELE
CR	0.0	-0.12	0.55		0.8	-0.05	0.52	-0.33	0.63	0.0	CR
LXFR	0.0	0.21	0.38	0.8		0.28	0.38	-0.02	0.43	0.0	LXFR
CSWI	0.0	0.47	-0.2	-0.05	0.28		-0.22	0.38	-0.05	0.0	CSWI
WTS	0.0	-0.62	0.85	0.52	0.38	-0.22		-0.49	0.77	0.0	WTS
TAYD	0.0	0.66	-0.41	-0.33	-0.02	0.38	-0.49		-0.49	0.0	TAYD
EPAC	0.0	-0.63	0.89	0.63	0.43	-0.05	0.77	-0.49		0.0	EPAC
JBT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		JBT
	CIR	BW	FELE	CR	LXFR	CSWI	WTS	TAYD	EPAC	JBT

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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

EPAC	+ 0.89	FELE
WTS	+ 0.85	FELE
LXFR	+ 0.8	CR
EPAC	+ 0.77	WTS
TAYD	+ 0.66	BW
EPAC	+ 0.63	CR

High negative correlations

FELE	- 0.65	BW
EPAC	- 0.63	BW
WTS	- 0.62	BW
EPAC	- 0.49	TAYD
TAYD	- 0.49	WTS
TAYD	- 0.41	FELE

Risk-Adjusted Indicators

There is a big difference between TPI Stock performing well and TPI Composites 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 TPI Composites' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CIR	0.00	0.00	0.00	0.00	0.00	0.00
BW	3.50	(0.92)	1.94	5.49	(8.42)	18.66
FELE	1.03	(0.05)	(0.13)	2.00	(1.71)	8.22
CR	1.49	(0.03)	(0.10)	2.75	(3.24)	16.18
LXFR	1.70	(0.12)	(0.20)	2.60	(4.10)	11.40
CSWI	1.46	(0.40)	(0.51)	1.88	(3.67)	7.45
WTS	1.22	0.03	(0.05)	2.23	(2.46)	10.44
TAYD	1.80	(0.43)	0.96	2.73	(3.04)	17.46
EPAC	1.33	(0.10)	(0.18)	2.21	(2.97)	6.65
JBT	0.00	0.00	0.00	0.00	0.00	0.00

TPI Composites Corporate Management

Steven Esq	General Secretary	Profile
Charles Stroo	Chief Officer	Profile
Thomas Adams	Senior Wind	Profile
Deane Ilukowicz	Chief Officer	Profile
Gokhan Serdar	Senior Turkey	Profile
Gordon Davis	Senior Mexico	Profile
Christian Edin	Director Relations	Profile

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