Tortoise Power Correlations

TPZ Fund

USD 20.51 0.31 1.49%

The current 90-days correlation between Tortoise Power And and Ecofin Sustainable And is 0.02 (i.e., Significant diversification). The correlation of Tortoise Power 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.

Tortoise Power Correlation With Market

Very weak diversification

The correlation between Tortoise Power And and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Power And 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 Tortoise Power And. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Tortoise Fund

0.65	PEO	Adams Natural Resources	Pair Corr
0.75	CRF	Cornerstone Strategic	Pair Corr
0.79	CLM	Cornerstone Strategic	Pair Corr
0.9	NTG	Tortoise Mlp Closed	Pair Corr
0.7	ETV	Eaton Vance Tax	Pair Corr
0.72	BDJ	Blackrock Enhanced Equity	Pair Corr
0.67	VFIAX	Vanguard 500 Index	Pair Corr
0.64	CII	Blackrock Enhanced	Pair Corr
0.67	VFINX	Vanguard 500 Index	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.72	AXP	American Express Sell-off Trend	Pair Corr
0.8	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.67	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.74	WMT	Walmart Aggressive Push	Pair Corr

Moving against Tortoise Fund

0.64	PCQ	Pimco California Mun	Pair Corr
0.82	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.66	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.64	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	NTG	KMF	TEAF	RMI	TYG	TTP	NDP	AIF	JHS	CXE
NTG		0.0	-0.16	-0.13	0.89	0.98	0.9	0.0	-0.43	-0.48	NTG
KMF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	KMF
TEAF	-0.16	0.0		0.71	-0.03	-0.27	-0.22	0.0	0.55	0.47	TEAF
RMI	-0.13	0.0	0.71		-0.07	-0.23	-0.19	0.0	0.51	0.74	RMI
TYG	0.89	0.0	-0.03	-0.07		0.87	0.96	0.0	-0.36	-0.4	TYG
TTP	0.98	0.0	-0.27	-0.23	0.87		0.92	0.0	-0.49	-0.56	TTP
NDP	0.9	0.0	-0.22	-0.19	0.96	0.92		0.0	-0.48	-0.5	NDP
AIF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AIF
JHS	-0.43	0.0	0.55	0.51	-0.36	-0.49	-0.48	0.0		0.7	JHS
CXE	-0.48	0.0	0.47	0.74	-0.4	-0.56	-0.5	0.0	0.7		CXE
	NTG	KMF	TEAF	RMI	TYG	TTP	NDP	AIF	JHS	CXE

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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

TTP	+ 0.98	NTG
NDP	+ 0.96	TYG
NDP	+ 0.92	TTP
NDP	+ 0.9	NTG
TYG	+ 0.89	NTG
TTP	+ 0.87	TYG

High negative correlations

CXE	- 0.56	TTP
CXE	- 0.5	NDP
JHS	- 0.49	TTP
JHS	- 0.48	NDP
CXE	- 0.48	NTG
JHS	- 0.43	NTG

Risk-Adjusted Indicators

There is a big difference between Tortoise Fund performing well and Tortoise Power Fund 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 Tortoise Power'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
NTG	0.89	0.34	0.21	0.97	0.80	(1.02)	2.18	(1.60)	5.67
KMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEAF	0.41	0.03	(0.09)	0.32	0.55	(0.45)	1.03	(1.03)	3.44
RMI	0.38	0.04	(0.11)	(14.12)	0.46	(0.40)	0.83	(0.86)	2.20
TYG	0.99	0.32	0.25	0.84	0.61	(1.14)	2.21	(1.44)	6.24
TTP	0.83	0.27	0.21	0.97	0.54	(0.99)	1.93	(1.19)	7.01
NDP	0.89	0.18	0.11	0.39	0.92	(0.98)	2.15	(1.81)	6.09
AIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHS	0.28	(0.03)	0.00	(0.09)	0.00	0.00	0.52	(0.61)	2.16
CXE	0.51	0.00	(0.15)	0.21	0.54	(0.69)	1.53	(1.02)	3.34

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