TechPrecision Common Correlations

TPCS Stock

USD 4.14 0.09 2.22%

The current 90-days correlation between TechPrecision Common and VirTra Inc is 0.31 (i.e., Weak diversification). The correlation of TechPrecision Common 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. If the correlation is 0, the equities are not correlated; they are entirely random.

TechPrecision Common Correlation With Market

Significant diversification

The correlation between TechPrecision Common and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechPrecision Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TechPrecision Stock

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

For more information on how to buy TechPrecision Stock please use our How to Invest in TechPrecision Common guide.

Moving together with TechPrecision Stock

0.66	AP	Ampco Pittsburgh	Pair Corr
0.64	TG	Tredegar	Pair Corr
0.71	ATI	Allegheny Technologies Earnings Call This Week	Pair Corr
0.61	CRS	Carpenter Technology Earnings Call This Week	Pair Corr
0.84	MEC	Mayville Engineering	Pair Corr
0.75	WOR	Worthington Industries	Pair Corr
0.65	HIHO	Highway Holdings Earnings Call This Week	Pair Corr
0.67	IIIN	Insteel Industries	Pair Corr
0.62	CMPOW	CompoSecure	Pair Corr
0.67	PRLB	Proto Labs Earnings Call This Week	Pair Corr
0.65	CMPO	CompoSecure	Pair Corr
0.87	AL	Air Lease	Pair Corr
0.66	BA	Boeing Earnings Call This Week	Pair Corr
0.85	BV	BrightView Holdings	Pair Corr
0.64	BW	Babcock Wilcox Enter	Pair Corr
0.85	CP	Canadian Pacific Railway Earnings Call This Week	Pair Corr
0.68	CR	Crane Company Earnings Call This Week	Pair Corr
0.67	CW	Curtiss Wright	Pair Corr
0.87	DE	Deere Company	Pair Corr
0.64	DY	Dycom Industries	Pair Corr
0.81	FA	First Advantage Corp	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.64	HY	Hyster Yale Materials	Pair Corr
0.74	IR	Ingersoll Rand Earnings Call This Week	Pair Corr

Moving against TechPrecision Stock

0.65	G	Genpact Limited	Pair Corr
0.42	GIFI	Gulf Island Fabrication	Pair Corr
0.77	MG	Mistras Group Earnings Call This Week	Pair Corr
0.45	NL	NL Industries	Pair Corr

Related Correlations Analysis

	TG	WOR	NWPX	GIFI	PCSA	PTEL	VTSI	INFU	ATGN
TG		0.95	0.14	0.19	-0.07	-0.01	0.85	0.71	0.0	TG
WOR	0.95		0.13	-0.01	-0.09	-0.06	0.86	0.74	0.0	WOR
NWPX	0.14	0.13		0.43	-0.55	0.35	0.1	0.06	0.0	NWPX
GIFI	0.19	-0.01	0.43		-0.19	0.27	0.11	-0.08	0.0	GIFI
PCSA	-0.07	-0.09	-0.55	-0.19		-0.18	0.11	0.12	0.0	PCSA
PTEL	-0.01	-0.06	0.35	0.27	-0.18		-0.2	-0.24	0.0	PTEL
VTSI	0.85	0.86	0.1	0.11	0.11	-0.2		0.85	0.0	VTSI
INFU	0.71	0.74	0.06	-0.08	0.12	-0.24	0.85		0.0	INFU
ATGN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ATGN
	TG	WOR	NWPX	GIFI	PCSA	PTEL	VTSI	INFU	ATGN

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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

WOR	+ 0.95	TG
VTSI	+ 0.86	WOR
VTSI	+ 0.85	TG
INFU	+ 0.85	VTSI
INFU	+ 0.74	WOR
INFU	+ 0.71	TG

High negative correlations

PCSA	- 0.55	NWPX
INFU	- 0.24	PTEL
VTSI	- 0.2	PTEL
PCSA	- 0.19	GIFI
PTEL	- 0.18	PCSA
PCSA	- 0.09	WOR

Risk-Adjusted Indicators

There is a big difference between TechPrecision Stock performing well and TechPrecision Common 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 TechPrecision Common'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
TG	1.48	0.15	0.08	0.38	1.42	(1.59)	3.30	(2.63)	9.06
WOR	1.16	0.20	0.19	0.41	0.71	(1.42)	3.31	(1.79)	9.03
NWPX	1.22	(0.15)	(0.11)	0.05	1.60	(1.30)	3.35	(2.00)	8.25
GIFI	1.64	0.05	(0.03)	0.37	2.60	(1.70)	3.88	(3.36)	18.12
PCSA	6.54	0.51	0.04	2.23	7.35	(8.88)	13.64	(12.50)	50.00
PTEL	7.99	0.93	0.08	1.12	8.06	(12.65)	23.81	(16.67)	49.49
VTSI	3.45	0.88	0.19	(33.63)	3.02	(4.80)	7.74	(6.06)	46.17
INFU	2.34	0.17	0.03	0.48	2.61	(2.67)	4.93	(4.13)	21.88
ATGN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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