Turtle Beach Correlations

TBCH Stock

13.53 0.06 0.44%

The current 90-days correlation between Turtle Beach and GoPro Inc is 0.37 (i.e., Weak diversification). The correlation of Turtle Beach 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.

Turtle Beach Correlation With Market

Very good diversification

The correlation between Turtle Beach and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turtle Beach and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Turtle Stock

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

For more detail on how to invest in Turtle Stock please use our How to Invest in Turtle Beach guide.

Moving together with Turtle Stock

0.85

HPQ

HP Inc

Pair Corr

Moving against Turtle Stock

0.7	HRMY	Harmony Biosciences	Pair Corr
0.65	OI	O I Glass	Pair Corr
0.62	WDC	Western Digital Earnings Call This Week	Pair Corr
0.55	SNDK	Sandisk Corp Earnings Call This Week	Pair Corr
0.52	JBHT	JB Hunt Transport	Pair Corr
0.38	BMO	Bank of Montreal	Pair Corr
0.32	PHXHF	PHX Energy Services	Pair Corr

Related Correlations Analysis

	GPRO	NVEC	FEIM	VUZI	PDYN	CNDT	FRGE	REKR	MVIS	RMNI
GPRO		0.41	-0.47	0.28	0.53	0.84	-0.82	0.86	0.78	0.84	GPRO
NVEC	0.41		0.07	0.32	0.41	0.39	-0.41	0.34	0.34	0.52	NVEC
FEIM	-0.47	0.07		0.6	-0.14	-0.15	0.21	-0.51	-0.32	-0.15	FEIM
VUZI	0.28	0.32	0.6		0.34	0.51	-0.49	0.22	0.35	0.48	VUZI
PDYN	0.53	0.41	-0.14	0.34		0.65	-0.77	0.77	0.8	0.5	PDYN
CNDT	0.84	0.39	-0.15	0.51	0.65		-0.9	0.83	0.83	0.81	CNDT
FRGE	-0.82	-0.41	0.21	-0.49	-0.77	-0.9		-0.87	-0.89	-0.76	FRGE
REKR	0.86	0.34	-0.51	0.22	0.77	0.83	-0.87		0.92	0.74	REKR
MVIS	0.78	0.34	-0.32	0.35	0.8	0.83	-0.89	0.92		0.74	MVIS
RMNI	0.84	0.52	-0.15	0.48	0.5	0.81	-0.76	0.74	0.74		RMNI
	GPRO	NVEC	FEIM	VUZI	PDYN	CNDT	FRGE	REKR	MVIS	RMNI

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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

MVIS	+ 0.92	REKR
REKR	+ 0.86	GPRO
CNDT	+ 0.84	GPRO
RMNI	+ 0.84	GPRO
REKR	+ 0.83	CNDT
MVIS	+ 0.83	CNDT

High negative correlations

FRGE	- 0.9	CNDT
MVIS	- 0.89	FRGE
REKR	- 0.87	FRGE
FRGE	- 0.82	GPRO
FRGE	- 0.77	PDYN
RMNI	- 0.76	FRGE

Risk-Adjusted Indicators

There is a big difference between Turtle Stock performing well and Turtle Beach 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 Turtle Beach'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
GPRO	3.02	(0.81)	0.00	(0.37)	0.00	0.00	4.73	(7.93)	18.60
NVEC	1.84	(0.01)	0.01	0.06	2.26	(2.07)	3.96	(3.76)	10.84
FEIM	3.55	0.63	0.18	0.81	3.22	(4.14)	8.80	(5.47)	34.92
VUZI	4.62	(0.40)	0.00	(0.18)	0.00	0.00	8.45	(8.86)	43.23
PDYN	4.21	(0.54)	0.00	(0.08)	0.00	0.00	10.80	(7.57)	24.47
CNDT	2.83	(0.63)	0.00	(0.27)	0.00	0.00	4.49	(5.34)	23.18
FRGE	3.31	1.86	1.69	(1.06)	0.00	(3.94)	11.43	(0.98)	69.57
REKR	3.27	(1.29)	0.00	(0.45)	0.00	0.00	5.41	(7.97)	16.98
MVIS	3.04	(0.56)	0.00	(0.25)	0.00	0.00	6.38	(7.45)	15.60
RMNI	1.67	(0.36)	0.00	(0.21)	0.00	0.00	2.53	(3.72)	15.81

Turtle Beach Corporate Management

Jose Rosado	Senior Operations	Profile
John Hanson	Senior Advisor	Profile
Ryan Dell	Senior Marketing	Profile
MacLean Marshall	Senior Communications	Profile
Kate Zibell	Chief Officer	Profile
Megan Wynne	General Secretary	Profile

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