Tortoise Energy Correlations
| TYG Stock | USD 42.34 0.31 0.74% |
The correlation of Tortoise Energy 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.
Tortoise Energy Correlation With Market
Poor diversification
The correlation between Tortoise Energy Infrastructure and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Energy Infrastructure and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Tortoise Stock
| 0.81 | DHIL | Diamond Hill Investment | PairCorr |
| 0.77 | AC | Associated Capital | PairCorr |
| 0.65 | BN | Brookfield Corp | PairCorr |
| 0.81 | BX | Blackstone Group | PairCorr |
| 0.81 | CG | Carlyle Group | PairCorr |
| 0.81 | DX | Dynex Capital | PairCorr |
| 0.71 | GS | Goldman Sachs Group | PairCorr |
| 0.78 | LC | LendingClub Corp | PairCorr |
| 0.77 | LU | Lufax Holding | PairCorr |
| 0.83 | MC | Moelis | PairCorr |
| 0.67 | MS | Morgan Stanley | PairCorr |
| 0.69 | QD | Qudian Inc | PairCorr |
| 0.89 | SF | Stifel Financial | PairCorr |
| 0.73 | TW | Tradeweb Markets | PairCorr |
| 0.66 | WT | WisdomTree | PairCorr |
| 0.72 | VCTR | Victory Capital Holdings | PairCorr |
| 0.81 | VINP | Vinci Partners Inves | PairCorr |
| 0.85 | VRTS | Virtus Investment | PairCorr |
| 0.82 | EARN | Ellington Residential | PairCorr |
Moving against Tortoise Stock
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tortoise Stock performing well and Tortoise Energy 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 Tortoise Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NTG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DTF | 0.25 | 0.00 | (0.05) | (0.04) | 0.31 | 0.54 | 1.71 | |||
| DMA | 1.08 | 0.04 | 0.02 | 0.07 | 1.50 | 2.09 | 12.97 | |||
| NXG | 1.61 | 0.08 | 0.03 | 0.09 | 2.95 | 3.53 | 14.00 | |||
| TTP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TPZ | 0.96 | (0.04) | 0.00 | (0.04) | 0.00 | 1.92 | 9.16 | |||
| NDP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AIF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VKQ | 0.69 | (0.08) | 0.00 | (0.26) | 0.00 | 1.28 | 4.10 |