Tortoise Energy Correlations

TYG Stock

USD 44.40 0.60 1.37%

The correlation of Tortoise Energy 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.

Tortoise Energy Correlation With Market

Good diversification

The correlation between Tortoise Energy Infrastructure and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Energy Infrastructure 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 Energy Infrastructure. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Tortoise Stock

0.62	AXP	American Express	Pair Corr
0.61	CNF	CNFinance Holdings	Pair Corr
0.77	COF	Capital One Financial	Pair Corr
0.73	DFS	Discover Financial	Pair Corr
0.71	OPFI	OppFi Inc	Pair Corr
0.84	ALLY	Ally Financial Normal Trading	Pair Corr
0.85	C	Citigroup Aggressive Push	Pair Corr
0.63	BN	Brookfield Corp	Pair Corr

Moving against Tortoise Stock

0.37	RENEW	Cartesian Growth	Pair Corr
0.36	CB	Chubb	Pair Corr

Related Correlations Analysis

	NTG	DTF	DMA	NXG	TTP	TPZ	NDP	AIF	VKQ
NTG		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NTG
DTF	0.0		0.26	0.58	0.0	-0.04	0.0	0.0	0.83	DTF
DMA	0.0	0.26		0.06	0.0	0.21	0.0	0.0	0.35	DMA
NXG	0.0	0.58	0.06		0.0	0.41	0.0	0.0	0.5	NXG
TTP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TTP
TPZ	0.0	-0.04	0.21	0.41	0.0		0.0	0.0	-0.05	TPZ
NDP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NDP
AIF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	AIF
VKQ	0.0	0.83	0.35	0.5	0.0	-0.05	0.0	0.0		VKQ
	NTG	DTF	DMA	NXG	TTP	TPZ	NDP	AIF	VKQ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

VKQ	+ 0.83	DTF
NXG	+ 0.58	DTF
VKQ	+ 0.5	NXG
TPZ	+ 0.41	NXG
VKQ	+ 0.35	DMA
DMA	+ 0.26	DTF

High negative correlations

VKQ	- 0.05	TPZ
TPZ	- 0.04	DTF
VKQ	- 0.0	AIF
VKQ	- 0.0	NDP
AIF	- 0.0	NDP
AIF	- 0.0	TPZ

Risk-Adjusted Indicators

There is a big difference between Tortoise Stock performing well and Tortoise Energy 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 Tortoise Energy'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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DTF	0.31	0.01	0.03	0.31	0.45	(0.33)	0.72	(0.62)	1.64
DMA	0.59	0.03	0.03	0.17	0.73	(0.70)	1.05	(1.37)	5.95
NXG	1.40	0.31	0.12	1.16	2.12	(1.46)	3.26	(2.21)	13.35
TTP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TPZ	0.97	0.09	0.06	0.16	1.32	(1.05)	1.76	(1.92)	7.38
NDP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VKQ	0.47	0.00	0.00	(0.01)	0.56	(0.56)	1.04	(1.00)	3.24

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC