Turning Point Correlations

TPB Stock

USD 75.58 0.69 0.92%

The current 90-days correlation between Turning Point Brands and Universal is 0.19 (i.e., Average diversification). The correlation of Turning Point 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.

Turning Point Correlation With Market

Weak diversification

The correlation between Turning Point Brands and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turning Point Brands and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Turning Point Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Turning Stock

0.7	MO	Altria Group	Pair Corr
0.85	PM	Philip Morris Intern	Pair Corr
0.84	TR	Tootsie Roll Industries	Pair Corr
0.77	BTI	British American Tobacco	Pair Corr
0.89	BUD	Anheuser Busch Inbev	Pair Corr
0.66	FDP	Fresh Del Monte	Pair Corr
0.71	FMX	Fomento Economico	Pair Corr
0.79	LSF	Laird Superfood	Pair Corr

Moving against Turning Stock

0.91	CAG	ConAgra Foods	Pair Corr
0.87	BGS	BG Foods	Pair Corr
0.86	CPB	Campbell Soup Sell-off Trend	Pair Corr
0.86	FLO	Flowers Foods	Pair Corr
0.81	GIS	General Mills	Pair Corr
0.69	FARM	Farmer Bros	Pair Corr
0.55	CCU	Compania Cervecerias	Pair Corr
0.38	FTFT	Future Fintech Group	Pair Corr
0.32	BON	Bon Natural Life	Pair Corr
0.87	HAIN	Hain Celestial	Pair Corr
0.86	TAP	Molson Coors Brewing	Pair Corr
0.85	TSN	Tyson Foods	Pair Corr
0.85	JBSS	John B Sanfilippo	Pair Corr
0.83	KHC	Kraft Heinz	Pair Corr
0.79	KLG	WK Kellogg	Pair Corr
0.6	MKC	McCormick Company	Pair Corr
0.59	ISPR	Ispire Technology Common	Pair Corr
0.55	THS	Treehouse Foods	Pair Corr
0.47	UTZ	Utz Brands Potential Growth	Pair Corr
0.42	XXII	22nd Century Group	Pair Corr

Related Correlations Analysis

	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO
UVV		0.4	0.8	0.88	0.0	0.65	0.35	0.51	0.75	0.81	UVV
IMBBY	0.4		0.53	0.59	0.0	0.77	0.9	0.26	0.42	0.58	IMBBY
BTI	0.8	0.53		0.9	0.0	0.69	0.46	0.42	0.89	0.73	BTI
PM	0.88	0.59	0.9		0.0	0.85	0.53	0.65	0.81	0.83	PM
VGR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	VGR
JAPAY	0.65	0.77	0.69	0.85	0.0		0.76	0.71	0.59	0.71	JAPAY
IMBBF	0.35	0.9	0.46	0.53	0.0	0.76		0.28	0.39	0.48	IMBBF
JAPAF	0.51	0.26	0.42	0.65	0.0	0.71	0.28		0.41	0.51	JAPAF
BTAFF	0.75	0.42	0.89	0.81	0.0	0.59	0.39	0.41		0.63	BTAFF
MO	0.81	0.58	0.73	0.83	0.0	0.71	0.48	0.51	0.63		MO
	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO

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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

IMBBF	+ 0.9	IMBBY
PM	+ 0.9	BTI
BTAFF	+ 0.89	BTI
PM	+ 0.88	UVV
JAPAY	+ 0.85	PM
MO	+ 0.83	PM

High negative correlations

MO	- 0.0	VGR
BTAFF	- 0.0	VGR
JAPAF	- 0.0	VGR
IMBBF	- 0.0	VGR
JAPAY	- 0.0	VGR
VGR	- 0.0	PM

Risk-Adjusted Indicators

There is a big difference between Turning Stock performing well and Turning Point 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 Turning Point'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
UVV	1.25	0.20	0.10	0.73	1.25	(1.41)	3.75	(2.29)	14.73
IMBBY	1.23	0.14	0.04	1.24	2.02	(1.14)	2.39	(3.30)	11.46
BTI	1.10	0.32	0.16	(2.40)	1.20	(1.22)	2.69	(2.07)	9.06
PM	1.05	0.29	0.14	1.09	1.44	(1.14)	2.44	(1.34)	10.84
VGR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JAPAY	1.13	0.25	0.11	(3.02)	1.53	(1.23)	2.27	(1.91)	9.18
IMBBF	2.62	0.17	0.03	0.88	3.53	(2.59)	4.42	(5.57)	18.28
JAPAF	1.89	0.36	0.05	1.25	2.43	(4.28)	6.21	(4.92)	23.22
BTAFF	3.03	0.31	0.08	1.06	3.20	(3.79)	6.81	(5.92)	14.93
MO	0.92	0.06	0.01	0.49	1.22	(0.97)	2.06	(2.05)	7.39

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