Turning Point Correlations

0T5 Stock

EUR 107.00 1.00 0.94%

The current 90-days correlation between Turning Point Brands and Accenture plc is -0.32 (i.e., Very good 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

Poor diversification

The correlation between Turning Point Brands and DJI is 0.75 (i.e., Poor 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.

The ability to find closely correlated positions to Turning Point could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Turning Point 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 Turning Point - 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 Turning Point Brands to buy it.

Moving together with Turning Stock

0.81	WMT	Walmart Earnings Call This Week	Pair Corr
0.82	WMT	Walmart Earnings Call This Week	Pair Corr
0.85	CWT	Curtiss Wright	Pair Corr
0.91	HBC1	HSBC Holdings plc	Pair Corr
0.63	K34	Konecranes Plc	Pair Corr
0.92	TQI	TELECOM ITALIA	Pair Corr
0.82	ST2	Sturm Ruger Earnings Call This Week	Pair Corr
0.86	G40	GDS Holdings Limited	Pair Corr
0.64	ADB	Adobe Inc	Pair Corr
0.77	ZNHH	China Southern Airlines	Pair Corr
0.62	AED	Grupo Aeroportuario del	Pair Corr
0.83	BSI	BE Semiconductor Ind Earnings Call This Week	Pair Corr
0.82	GPT	Genuine Parts Earnings Call This Week	Pair Corr
0.7	L3X	Centrais Elétricas Split	Pair Corr
0.78	2SF	Sparebank 1 Ostlandet	Pair Corr
0.87	CPA	Colgate Palmolive	Pair Corr
0.72	1SZ0	Santacruz Silver Mining Split	Pair Corr
0.92	TGE1	MOBILEZONE N	Pair Corr
0.92	2N8	Global Net Lease	Pair Corr
0.82	FPP0	ALTYNGOLD PLC LS	Pair Corr

Moving against Turning Stock

0.72	013A	JD Inc Adr	Pair Corr
0.66	013C	JD Inc	Pair Corr
0.45	AMZ	Amazon Inc	Pair Corr
0.45	BY6	BYD Limited	Pair Corr
0.43	AMZ	Amazon Inc	Pair Corr
0.33	BY6A	BYD LTD ADR2	Pair Corr
0.65	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	WMT	WMT	AMZ	AMZ1	AMZ	BY6	BY6A	013A	013C	CSA
WMT		1.0	-0.52	-0.37	-0.54	-0.52	-0.43	-0.69	-0.66	-0.07	WMT
WMT	1.0		-0.52	-0.36	-0.54	-0.51	-0.42	-0.69	-0.66	-0.08	WMT
AMZ	-0.52	-0.52		0.89	0.99	0.38	0.36	0.69	0.71	0.52	AMZ
AMZ1	-0.37	-0.36	0.89		0.87	0.23	0.28	0.51	0.51	0.43	AMZ1
AMZ	-0.54	-0.54	0.99	0.87		0.4	0.34	0.7	0.71	0.52	AMZ
BY6	-0.52	-0.51	0.38	0.23	0.4		0.89	0.71	0.71	0.27	BY6
BY6A	-0.43	-0.42	0.36	0.28	0.34	0.89		0.56	0.6	0.19	BY6A
013A	-0.69	-0.69	0.69	0.51	0.7	0.71	0.56		0.94	0.32	013A
013C	-0.66	-0.66	0.71	0.51	0.71	0.71	0.6	0.94		0.29	013C
CSA	-0.07	-0.08	0.52	0.43	0.52	0.27	0.19	0.32	0.29		CSA
	WMT	WMT	AMZ	AMZ1	AMZ	BY6	BY6A	013A	013C	CSA

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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

WMT	+ 1.0	WMT
AMZ	+ 0.99	AMZ
013C	+ 0.94	013A
AMZ1	+ 0.89	AMZ
BY6A	+ 0.89	BY6
AMZ	+ 0.87	AMZ1

High negative correlations

013A	- 0.69	WMT
013A	- 0.69	WMT
013C	- 0.66	WMT
013C	- 0.66	WMT
AMZ	- 0.54	WMT
AMZ	- 0.54	WMT

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
WMT	1.22	0.35	0.26	1.11	0.89	(1.50)	3.77	(1.83)	10.70
WMT	1.20	0.35	0.29	0.66	0.73	(1.46)	3.26	(2.07)	9.82
AMZ	1.48	(0.35)	0.00	(0.90)	0.00	0.00	2.32	(2.94)	11.65
AMZ1	2.71	(0.26)	0.00	(2.70)	0.00	0.00	6.37	(5.88)	23.77
AMZ	1.35	(0.38)	0.00	(0.66)	0.00	0.00	2.25	(2.73)	9.94
BY6	1.59	(0.07)	0.00	(0.06)	0.00	0.00	3.69	(3.04)	13.38
BY6A	2.21	0.10	0.00	(0.12)	2.72	(2.50)	4.98	(4.50)	15.26
013A	1.29	(0.29)	0.00	(0.61)	0.00	0.00	2.39	(2.74)	7.52
013C	1.68	(0.26)	0.00	(0.39)	0.00	0.00	2.85	(3.68)	10.00
CSA	1.65	(0.18)	0.00	(0.13)	0.00	0.00	3.49	(5.14)	15.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in Turning Point 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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Turning Point Corporate Management

Elected by the shareholders, the Turning Point's board of directors comprises two types of representatives: Turning Point inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Turning. The board's role is to monitor Turning Point's management team and ensure that shareholders' interests are well served. Turning Point's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Turning Point's outside directors are responsible for providing unbiased perspectives on the board's policies.

Alicia Carrasco	Chief Officer	Profile
Summer Frein	Senior Officer	Profile
Louie Reformina	VP Officer	Profile
John Charnovich	Chief Officer	Profile
Brittani Cushman	Gen VP	Profile
Frank Vignone	Senior Sales	Profile

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