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.
Moving together with Tredegar Stock
0.76 | AP | Ampco Pittsburgh Downward Rally | PairCorr |
0.94 | ATI | Allegheny Technologies Earnings Call This Week | PairCorr |
0.93 | CRS | Carpenter Technology Earnings Call This Week | PairCorr |
0.87 | MEC | Mayville Engineering | PairCorr |
0.79 | MLI | Mueller Industries | PairCorr |
0.96 | WOR | Worthington Industries | PairCorr |
0.85 | IIIN | Insteel Industries | PairCorr |
0.9 | CMPOW | CompoSecure | PairCorr |
0.77 | PRLB | Proto Labs Earnings Call This Week | PairCorr |
0.65 | TPCS | TechPrecision Common | PairCorr |
0.91 | CMPO | CompoSecure Earnings Call This Week | PairCorr |
0.83 | J | Jacobs Solutions | PairCorr |
0.84 | R | Ryder System Earnings Call Today | PairCorr |
0.67 | DIST | Distoken Acquisition | PairCorr |
0.88 | AL | Air Lease | PairCorr |
0.81 | AZ | A2Z Smart Technologies | PairCorr |
0.88 | BA | Boeing Earnings Call This Week | PairCorr |
0.8 | BE | Bloom Energy Corp Earnings Call This Week | PairCorr |
0.7 | BV | BrightView Holdings | PairCorr |
0.84 | BW | Babcock Wilcox Enter | PairCorr |
0.86 | BZ | Kanzhun Ltd ADR | PairCorr |
0.71 | CP | Canadian Pacific Railway Earnings Call This Week | PairCorr |
0.97 | CR | Crane Company Earnings Call This Week | PairCorr |
0.92 | CW | Curtiss Wright | PairCorr |
0.8 | DE | Deere Company | PairCorr |
0.91 | DY | Dycom Industries | PairCorr |
0.71 | FA | First Advantage Corp | PairCorr |
0.72 | GD | General Dynamics | PairCorr |
0.89 | GE | GE Aerospace | PairCorr |
Moving against Tredegar Stock
0.72 | NL | NL Industries | PairCorr |
0.58 | MG | Mistras Group Earnings Call This Week | PairCorr |
0.49 | GP | GreenPower Motor | PairCorr |
Related Correlations Analysis
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
| High negative correlations
|
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
MEC | 1.87 | 0.17 | 0.09 | 0.35 | 1.81 | 3.46 | 17.47 | |||
IIIN | 1.59 | 0.62 | 0.19 | (0.99) | 1.22 | 2.91 | 20.12 | |||
NWPX | 1.20 | 0.09 | (0.12) | 0.00 | 1.70 | 3.35 | 8.25 | |||
AP | 4.57 | 0.45 | 0.15 | 0.35 | 4.82 | 12.24 | 29.66 | |||
SXI | 1.62 | (0.01) | 0.04 | 0.20 | 1.65 | 3.09 | 12.94 | |||
MYE | 1.76 | 0.78 | 0.35 | (4.31) | 0.93 | 4.62 | 10.60 | |||
TBI | 3.14 | 0.69 | 0.21 | 0.69 | 2.81 | 7.41 | 24.28 | |||
SXT | 1.23 | 0.57 | 0.48 | 8.94 | 0.00 | 4.75 | 15.95 | |||
UNF | 1.03 | (0.12) | (0.07) | 0.06 | 2.22 | 2.30 | 13.16 |