Topps Tiles Correlations

TPT Stock

36.00 1.70 4.96%

The current 90-days correlation between Topps Tiles PLC and Allianz Technology Trust is 0.04 (i.e., Significant diversification). The correlation of Topps Tiles 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.

The ability to find closely correlated positions to Topps Tiles could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Topps Tiles when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Topps Tiles - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Topps Tiles PLC to buy it.

Moving against Topps Stock

0.57	0RHN	AcadeMedia AB	Pair Corr
0.51	AMG	AMG	Pair Corr
0.51	0HRS	CVS Health Corp	Pair Corr
0.45	RIGD	Reliance Industries	Pair Corr
0.4	0IL1	Federal Realty Investment	Pair Corr
0.34	ATT	Allianz Technology Trust	Pair Corr
0.34	IAG	International Consolidated Earnings Call Today	Pair Corr
0.34	XGLS	DB Physical Gold	Pair Corr
0.33	0HIT	Iberdrola	Pair Corr
0.31	ARV	Artemis Resources	Pair Corr
0.43	0N7I	Cairo Communication SpA	Pair Corr
0.42	0K6F	NetApp Inc	Pair Corr
0.4	BHMU	BH Macro Limited	Pair Corr
0.39	TYT	Toyota Motor Corp	Pair Corr
0.37	CMET	Capital Metals PLC	Pair Corr
0.36	0R4M	Lundin Gold	Pair Corr
0.35	BC94	Samsung Electronics	Pair Corr
0.34	AIRA	Air Astana Joint Earnings Call This Week	Pair Corr
0.34	0QYH	3D Systems Corp	Pair Corr
0.34	AAL	Anglo American PLC	Pair Corr
0.33	WWH	Worldwide Healthcare	Pair Corr

Related Correlations Analysis

	0K19	ATT	0QZ2	0R2T	0LCX	0YTR	0A1U	CUSN
0K19		-0.41	-0.19	-0.38	-0.15	0.5	0.06	-0.26	0K19
ATT	-0.41		0.79	0.95	0.77	-0.89	0.45	0.68	ATT
0QZ2	-0.19	0.79		0.85	0.88	-0.81	0.52	0.78	0QZ2
0R2T	-0.38	0.95	0.85		0.84	-0.92	0.39	0.77	0R2T
0LCX	-0.15	0.77	0.88	0.84		-0.71	0.39	0.62	0LCX
0YTR	0.5	-0.89	-0.81	-0.92	-0.71		-0.42	-0.8	0YTR
0A1U	0.06	0.45	0.52	0.39	0.39	-0.42		0.42	0A1U
CUSN	-0.26	0.68	0.78	0.77	0.62	-0.8	0.42		CUSN
	0K19	ATT	0QZ2	0R2T	0LCX	0YTR	0A1U	CUSN

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

0R2T	+ 0.95	ATT
0LCX	+ 0.88	0QZ2
0R2T	+ 0.85	0QZ2
0LCX	+ 0.84	0R2T
0QZ2	+ 0.79	ATT
CUSN	+ 0.78	0QZ2

High negative correlations

0YTR	- 0.92	0R2T
0YTR	- 0.89	ATT
0YTR	- 0.81	0QZ2
CUSN	- 0.8	0YTR
0YTR	- 0.71	0LCX
0A1U	- 0.42	0YTR

Risk-Adjusted Indicators

There is a big difference between Topps Stock performing well and Topps Tiles 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 Topps Tiles' 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
0K19	1.81	(0.24)	0.00	(0.12)	0.00	0.00	4.04	(4.42)	11.47
ATT	1.01	0.12	0.08	0.24	1.14	(1.09)	2.43	(2.19)	5.16
0QZ2	2.73	0.51	0.09	(15.75)	3.39	(3.15)	5.95	(7.17)	21.18
0R2T	2.93	1.13	0.39	0.77	2.24	(3.50)	7.47	(4.21)	15.01
0LCX	0.98	0.14	0.10	0.32	0.93	(1.20)	2.26	(1.70)	8.02
0YTR	1.23	(0.23)	0.00	(1.29)	0.00	0.00	2.00	(2.53)	11.65
0A1U	1.41	0.05	(0.01)	(0.59)	1.68	(2.64)	3.26	(4.08)	13.99
CUSN	1.78	0.19	0.02	(0.29)	2.02	(2.61)	4.62	(4.70)	10.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in Topps Tiles without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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