Tredegar Correlations

TG Stock  USD 9.07  0.29  3.30%   
The current 90-days correlation between Tredegar and Mayville Engineering Co is 0.39 (i.e., Weak diversification). The correlation of Tredegar 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.

Tredegar Correlation With Market

Very weak diversification

The correlation between Tredegar 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 Tredegar 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 Tredegar. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.
For more detail on how to invest in Tredegar Stock please use our How to Invest in Tredegar guide.

Moving together with Tredegar Stock

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Moving against Tredegar Stock

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Related Correlations Analysis

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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   
TBIMYE
SXTIIIN
SXTMYE
MYEMEC
MYESXI
SXIIIIN
  
High negative correlations   
UNFNWPX
APNWPX
UNFSXT
SXINWPX
NWPXMEC

Risk-Adjusted Indicators

There is a big difference between Tredegar Stock performing well and Tredegar 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 Tredegar'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.