Tootsie Roll Correlations

TR Stock

USD 31.97 0.78 2.50%

The correlation of Tootsie Roll 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.

Tootsie Roll Correlation With Market

Average diversification

The correlation between Tootsie Roll Industries and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tootsie Roll Industries 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 Tootsie Roll Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Tootsie Stock

0.69	MO	Altria Group	Pair Corr
0.63	BUD	Anheuser Busch Inbev Earnings Call Today	Pair Corr
0.64	KLG	WK Kellogg	Pair Corr
0.76	SAM	Boston Beer	Pair Corr
0.72	TAP	Molson Coors Brewing	Pair Corr
0.8	TSN	Tyson Foods	Pair Corr
0.78	UVV	Universal	Pair Corr
0.72	LWAY	Lifeway Foods	Pair Corr
0.71	ABEV	Ambev SA ADR Earnings Call Today	Pair Corr
0.64	BYND	Beyond Meat	Pair Corr
0.86	CVGW	Calavo Growers	Pair Corr
0.7	BG	Bunge Limited	Pair Corr
0.88	CL	Colgate Palmolive	Pair Corr
0.71	LW	Lamb Weston Holdings	Pair Corr
0.71	PG	Procter Gamble	Pair Corr
0.79	DNUT	Krispy Kreme	Pair Corr
0.75	DOLE	Dole PLC Earnings Call Today	Pair Corr

Moving against Tootsie Stock

0.65	K	Kellanova Earnings Call Tomorrow	Pair Corr
0.56	CCU	Compania Cervecerias	Pair Corr
0.55	BOF	BranchOut Food Common	Pair Corr
0.51	VITL	Vital Farms Earnings Call This Week	Pair Corr
0.44	BTI	British American Tobacco	Pair Corr
0.41	BJ	BJs Wholesale Club Earnings Call This Week	Pair Corr
0.34	KR	Kroger Company	Pair Corr
0.7	UG	United Guardian	Pair Corr
0.69	BRLSW	Borealis Foods	Pair Corr
0.53	WILC	G Willi Food	Pair Corr
0.52	EWCZ	European Wax Center	Pair Corr
0.39	VSTA	Vasta Platform	Pair Corr
0.31	DTCK	Davis Commodities	Pair Corr

Related Correlations Analysis

	MDLZ	HSY	RMCF	LDSVF	BRRLY	TROLB
MDLZ		0.77	0.28	0.66	0.53	0.0	MDLZ
HSY	0.77		0.62	0.19	0.82	0.0	HSY
RMCF	0.28	0.62		-0.13	0.78	0.0	RMCF
LDSVF	0.66	0.19	-0.13		-0.15	0.0	LDSVF
BRRLY	0.53	0.82	0.78	-0.15		0.0	BRRLY
TROLB	0.0	0.0	0.0	0.0	0.0		TROLB
	MDLZ	HSY	RMCF	LDSVF	BRRLY	TROLB

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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

BRRLY	+ 0.82	HSY
BRRLY	+ 0.78	RMCF
HSY	+ 0.77	MDLZ
LDSVF	+ 0.66	MDLZ
RMCF	+ 0.62	HSY
BRRLY	+ 0.53	MDLZ

High negative correlations

BRRLY	- 0.15	LDSVF
LDSVF	- 0.13	RMCF
TROLB	- 0.0	BRRLY
TROLB	- 0.0	LDSVF
TROLB	- 0.0	RMCF
TROLB	- 0.0	HSY

Risk-Adjusted Indicators

There is a big difference between Tootsie Stock performing well and Tootsie Roll 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 Tootsie Roll'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
MDLZ	1.04	0.06	0.04	0.56	1.35	(1.08)	2.33	(2.38)	5.72
HSY	1.56	0.10	0.05	(1.01)	1.80	(1.72)	3.93	(2.68)	16.30
RMCF	2.87	(0.67)	0.00	0.59	0.00	0.00	4.44	(6.59)	30.03
LDSVF	0.83	0.13	0.06	0.25	0.92	(1.99)	2.57	(2.02)	7.46
BRRLY	1.31	(0.26)	0.00	(1.00)	0.00	0.00	3.73	(2.75)	10.76
TROLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Tootsie Roll Corporate Executives

Elected by the shareholders, the Tootsie Roll's board of directors comprises two types of representatives: Tootsie Roll inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tootsie. The board's role is to monitor Tootsie Roll's management team and ensure that shareholders' interests are well served. Tootsie Roll's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tootsie Roll's outside directors are responsible for providing unbiased perspectives on the board's policies.

Howard Ember

CFO, Principal Accounting Officer and VP of Fin.

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