Turning Point Correlations

TPB Stock

USD 78.14 0.68 0.86%

The current 90-days correlation between Turning Point Brands and Universal is 0.18 (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

Average diversification

The correlation between Turning Point Brands and DJI is 0.1 (i.e., Average 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.

Build AI portfolio with Turning Stock

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

0.79	PM	Philip Morris Intern Earnings Call This Week	Pair Corr
0.66	BTI	British American Tobacco	Pair Corr
0.77	BUD	Anheuser Busch Inbev	Pair Corr
0.77	RLX	RLX Technology	Pair Corr
0.88	SFD	Smithfield Foods, Common	Pair Corr
0.8	INGR	Ingredion Incorporated	Pair Corr
0.72	OTLY	Oatly Group AB	Pair Corr
0.87	RKDA	Arcadia Biosciences	Pair Corr
0.64	DG	Dollar General	Pair Corr
0.65	EL	Estee Lauder Companies Earnings Call This Week	Pair Corr

Moving against Turning Stock

0.9	TSN	Tyson Foods	Pair Corr
0.76	CCU	Compania Cervecerias	Pair Corr
0.75	TAP	Molson Coors Brewing	Pair Corr
0.71	IMG	CIMG Inc Symbol Change	Pair Corr
0.59	SAM	Boston Beer Earnings Call This Week	Pair Corr
0.51	STZ	Constellation Brands	Pair Corr
0.5	JBSS	John B Sanfilippo	Pair Corr
0.48	ISPR	Ispire Technology Common	Pair Corr
0.47	K	Kellanova Earnings Call This Week	Pair Corr
0.33	XXII	22nd Century Group	Pair Corr
0.88	PAVS	Paranovus Entertainment	Pair Corr
0.84	JZ	Jianzhi Education	Pair Corr
0.81	BRCC	BRC Inc	Pair Corr
0.71	GO	Grocery Outlet Holding	Pair Corr
0.62	CL	Colgate Palmolive Earnings Call This Week	Pair Corr
0.52	BJ	BJs Wholesale Club	Pair Corr
0.5	KO	Coca Cola Earnings Call This Week	Pair Corr
0.39	DOLE	Dole PLC	Pair Corr
0.38	BRID	Bridgford Foods	Pair Corr
0.38	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	UVV	IMBBY	JAPAY	PM	ATGE	CLAR	HTB	THR	ULH
UVV		-0.04	0.33	0.71	0.57	0.0	0.3	0.22	-0.36	UVV
IMBBY	-0.04		0.19	0.0	-0.61	0.29	-0.22	-0.39	-0.34	IMBBY
JAPAY	0.33	0.19		-0.22	0.08	-0.67	-0.56	-0.11	-0.72	JAPAY
PM	0.71	0.0	-0.22		0.48	0.49	0.66	0.22	0.01	PM
ATGE	0.57	-0.61	0.08	0.48		-0.16	0.47	0.62	-0.01	ATGE
CLAR	0.0	0.29	-0.67	0.49	-0.16		0.57	0.13	0.51	CLAR
HTB	0.3	-0.22	-0.56	0.66	0.47	0.57		0.6	0.48	HTB
THR	0.22	-0.39	-0.11	0.22	0.62	0.13	0.6		0.18	THR
ULH	-0.36	-0.34	-0.72	0.01	-0.01	0.51	0.48	0.18		ULH
	UVV	IMBBY	JAPAY	PM	ATGE	CLAR	HTB	THR	ULH

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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

PM	+ 0.71	UVV
HTB	+ 0.66	PM
THR	+ 0.62	ATGE
THR	+ 0.6	HTB
ATGE	+ 0.57	UVV
HTB	+ 0.57	CLAR

High negative correlations

ULH	- 0.72	JAPAY
CLAR	- 0.67	JAPAY
ATGE	- 0.61	IMBBY
HTB	- 0.56	JAPAY
THR	- 0.39	IMBBY
ULH	- 0.36	UVV

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	1.29	0.06	(0.01)	0.27	1.43	(1.49)	2.12	(2.24)	14.71
IMBBY	1.06	0.04	(0.05)	(1.68)	1.94	(0.94)	2.05	(2.37)	9.86
JAPAY	0.94	(0.02)	0.00	(0.11)	0.00	0.00	2.03	(1.91)	4.42
PM	0.92	0.20	0.05	(71.28)	1.09	(0.94)	1.70	(2.24)	5.77
ATGE	1.82	0.10	0.03	0.26	2.22	(1.92)	3.33	(3.20)	22.91
CLAR	1.61	(0.01)	(0.02)	0.11	2.07	(1.80)	3.85	(3.07)	11.78
HTB	1.12	0.18	0.13	0.34	0.96	(1.28)	2.77	(2.00)	5.84
THR	1.49	(0.02)	0.02	0.11	2.17	(1.51)	3.40	(3.33)	13.02
ULH	2.46	(0.25)	0.00	(0.01)	0.00	0.00	5.19	(4.15)	18.52

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