Tandy Leather Correlations

TLF Stock

USD 3.44 0.08 2.38%

The current 90-days correlation between Tandy Leather Factory and Bowlin Travel Centers is 0.18 (i.e., Average diversification). The correlation of Tandy Leather 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.

Tandy Leather Correlation With Market

Average diversification

The correlation between Tandy Leather Factory 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 Tandy Leather Factory and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tandy Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tandy Leather Factory. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Tandy Stock

0.77	FL	Foot Locker Sell-off Trend	Pair Corr
0.87	JL	J Long Group	Pair Corr
0.74	LE	Lands End	Pair Corr
0.63	EPSM	Epsium Enterprise	Pair Corr
0.82	ASO	Academy Sports Outdoors	Pair Corr
0.83	EYE	National Vision Holdings	Pair Corr
0.73	GES	Guess Inc	Pair Corr
0.82	SCVL	Shoe Carnival	Pair Corr
0.77	SPWH	Sportsmans	Pair Corr
0.81	BLNK	Blink Charging	Pair Corr
0.78	BOOT	Boot Barn Holdings	Pair Corr
0.68	UCAR	U Power Limited	Pair Corr
0.8	H	Hyatt Hotels Earnings Call Today	Pair Corr
0.85	BC	Brunswick Earnings Call Today	Pair Corr
0.87	BH	Biglari Holdings	Pair Corr
0.63	IH	Ihuman Inc	Pair Corr
0.63	LI	Li Auto	Pair Corr
0.74	RL	Ralph Lauren Corp	Pair Corr
0.83	VC	Visteon Corp	Pair Corr
0.84	DOOO	BRP Inc	Pair Corr

Moving against Tandy Stock

0.73	HTLM	HomesToLife	Pair Corr
0.65	LVLU	Lulus Fashion Lounge	Pair Corr
0.43	GV	Visionary Education	Pair Corr
0.37	GME	GameStop Corp	Pair Corr
0.59	ECDA	ECD Automotive Design	Pair Corr
0.58	SG	Sweetgreen	Pair Corr
0.46	VSTA	Vasta Platform	Pair Corr
0.46	DPZ	Dominos Pizza Common	Pair Corr
0.45	EEIQ	Elite Education Group	Pair Corr

Related Correlations Analysis

	CRFCF	SCOO	MTTRY	BWTL	AEYGQ	SGC	CRWS	MIND
CRFCF		0.0	-0.03	0.23	0.0	0.14	0.3	0.37	CRFCF
SCOO	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SCOO
MTTRY	-0.03	0.0		0.43	0.0	0.77	-0.51	0.48	MTTRY
BWTL	0.23	0.0	0.43		0.0	0.52	-0.5	0.44	BWTL
AEYGQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AEYGQ
SGC	0.14	0.0	0.77	0.52	0.0		-0.49	0.56	SGC
CRWS	0.3	0.0	-0.51	-0.5	0.0	-0.49		-0.27	CRWS
MIND	0.37	0.0	0.48	0.44	0.0	0.56	-0.27		MIND
	CRFCF	SCOO	MTTRY	BWTL	AEYGQ	SGC	CRWS	MIND

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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

SGC	+ 0.77	MTTRY
MIND	+ 0.56	SGC
SGC	+ 0.52	BWTL
MIND	+ 0.48	MTTRY
MIND	+ 0.44	BWTL
BWTL	+ 0.43	MTTRY

High negative correlations

CRWS	- 0.51	MTTRY
CRWS	- 0.5	BWTL
CRWS	- 0.49	SGC
MIND	- 0.27	CRWS
MTTRY	- 0.03	CRFCF
MIND	- 0.0	AEYGQ

Risk-Adjusted Indicators

There is a big difference between Tandy Stock performing well and Tandy Leather 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 Tandy Leather'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
CRFCF	0.73	0.26	0.00	(0.13)	0.00	0.00	0.00	0.00	20.72
SCOO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTTRY	3.15	0.53	0.03	(0.51)	3.46	(6.89)	11.25	(7.14)	34.87
BWTL	0.68	0.14	0.00	(2.05)	0.00	0.00	1.48	0.00	12.16
AEYGQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SGC	1.48	(0.04)	(0.01)	0.17	1.82	(1.54)	3.16	(2.52)	8.94
CRWS	1.58	(0.12)	(0.04)	0.10	2.46	(1.70)	3.14	(2.64)	16.51
MIND	3.64	0.53	0.18	0.57	2.91	(4.67)	7.74	(4.80)	37.29

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