Tutor Perini Correlations

TPC Stock

USD 48.18 0.72 1.52%

The current 90-days correlation between Tutor Perini and Nasdaq Inc is 0.56 (i.e., Very weak diversification). The correlation of Tutor Perini 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.

Tutor Perini Correlation With Market

Very weak diversification

The correlation between Tutor Perini and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tutor Perini 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 Tutor Perini. 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.

For information on how to trade Tutor Stock refer to our How to Trade Tutor Stock guide.

Moving together with Tutor Stock

0.88	J	Jacobs Solutions	Pair Corr
0.95	DY	Dycom Industries	Pair Corr
0.66	ESOA	Energy Services	Pair Corr
0.84	ACA	Arcosa Inc	Pair Corr
0.95	ACM	Aecom Technology	Pair Corr
0.92	AGX	Argan Inc	Pair Corr
0.95	APG	Api Group Corp	Pair Corr
0.96	ECG	Everus Construction	Pair Corr
0.95	EME	EMCOR Group	Pair Corr
0.93	FIX	Comfort Systems USA	Pair Corr
0.93	FLR	Fluor	Pair Corr
0.95	GVA	Granite Construction	Pair Corr
0.94	LMB	Limbach Holdings	Pair Corr
0.73	MSW	Ming Shing Group	Pair Corr
0.95	MTZ	MasTec Inc	Pair Corr
0.94	ORN	Orion Group Holdings	Pair Corr
0.93	PWR	Quanta Services	Pair Corr
0.97	STN	Stantec	Pair Corr
0.78	TIC	Acuren	Pair Corr
0.97	GLDD	Great Lakes Dredge	Pair Corr
0.89	ZDAI	Primega Group Holdings Symbol Change	Pair Corr
0.93	IESC	IES Holdings	Pair Corr
0.79	MTRX	Matrix Service	Pair Corr
0.92	MYRG	MYR Group	Pair Corr
0.92	NVEE	NV5 Global	Pair Corr
0.95	PRIM	Primoris Services	Pair Corr
0.64	RITR	Reitar Logtech Holdings Trending	Pair Corr
0.93	ROAD	Construction Partners	Pair Corr
0.66	AGFY	Agrify Corp Downward Rally	Pair Corr
0.95	AMRC	Ameresco	Pair Corr
0.95	SLND	Southland Holdings	Pair Corr
0.94	STRL	Sterling Construction	Pair Corr

Moving against Tutor Stock

0.9	FGL	Founder Group Limited	Pair Corr
0.61	WLGS	Wang Lee Group,	Pair Corr
0.53	VATE	Innovate Corp	Pair Corr
0.76	SKK	PROSHARES ULTRASHORT	Pair Corr
0.8	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	NDAQ	WDC	IRDM	SSYS	NHI	GMOYF	SACH
NDAQ		0.99	0.86	0.87	-0.39	0.57	0.47	NDAQ
WDC	0.99		0.86	0.85	-0.45	0.56	0.49	WDC
IRDM	0.86	0.86		0.75	-0.5	0.19	0.72	IRDM
SSYS	0.87	0.85	0.75		-0.23	0.59	0.24	SSYS
NHI	-0.39	-0.45	-0.5	-0.23		0.2	-0.51	NHI
GMOYF	0.57	0.56	0.19	0.59	0.2		-0.19	GMOYF
SACH	0.47	0.49	0.72	0.24	-0.51	-0.19		SACH
	NDAQ	WDC	IRDM	SSYS	NHI	GMOYF	SACH

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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

WDC	+ 0.99	NDAQ
SSYS	+ 0.87	NDAQ
IRDM	+ 0.86	NDAQ
IRDM	+ 0.86	WDC
SSYS	+ 0.85	WDC
SSYS	+ 0.75	IRDM

High negative correlations

SACH	- 0.51	NHI
NHI	- 0.5	IRDM
NHI	- 0.45	WDC
NHI	- 0.39	NDAQ
NHI	- 0.23	SSYS
SACH	- 0.19	GMOYF

Risk-Adjusted Indicators

There is a big difference between Tutor Stock performing well and Tutor Perini 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 Tutor Perini'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
NDAQ	1.10	0.16	0.07	0.25	1.87	(1.06)	2.69	(2.11)	10.79
WDC	2.07	0.63	0.13	0.46	3.72	(2.15)	5.59	(2.26)	20.43
IRDM	1.94	0.16	0.06	0.27	2.30	(2.14)	4.59	(4.88)	15.67
SSYS	1.85	0.20	0.09	0.31	1.96	(2.08)	3.88	(3.96)	19.27
NHI	0.96	(0.09)	0.00	(0.12)	0.00	0.00	1.98	(1.95)	6.31
GMOYF	0.60	0.00	0.00	0.00	0.00	0.00	2.04	0.00	10.17
SACH	2.79	0.15	0.03	0.33	3.15	(3.40)	7.27	(5.15)	21.31

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