Tredegar Correlations

TG Stock

USD 8.69 0.34 3.77%

The current 90-days correlation between Tredegar and Perma Fix Environmental Svcs is 0.27 (i.e., Modest diversification). The correlation of Tredegar 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.

Tredegar Correlation With Market

Weak diversification

The correlation between Tredegar and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tredegar and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tredegar Stock

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

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

Moving together with Tredegar Stock

0.74	BP60	ALMA METALS LTD	Pair Corr
0.69	MT	ArcelorMittal SA ADR Sell-off Trend	Pair Corr
0.66	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.64	TX	Ternium SA ADR	Pair Corr
0.68	WS	Worthington Steel	Pair Corr
0.68	VALE	Vale SA ADR Aggressive Push	Pair Corr

Moving against Tredegar Stock

0.69	0GC0	RIDGELINE MINERALS	Pair Corr
0.47	WA1	WA1 Resources	Pair Corr
0.85	R8R	REGENER8 Resources	Pair Corr
0.44	LGC	Lavras Gold Corp	Pair Corr
0.43	FEX	FENIX Resources	Pair Corr
0.31	FHS	Freehill Mining	Pair Corr

Related Correlations Analysis

	PESI	SHMD	TWIN	PPIH	SLND	NVX	SPCE	PAMT	SLDP	FC
PESI		0.77	0.7	0.51	-0.44	-0.06	-0.49	0.49	-0.11	0.73	PESI
SHMD	0.77		0.81	0.52	-0.69	-0.04	-0.74	0.69	-0.31	0.87	SHMD
TWIN	0.7	0.81		0.68	-0.42	0.09	-0.56	0.72	-0.21	0.84	TWIN
PPIH	0.51	0.52	0.68		-0.15	0.05	-0.47	0.79	-0.43	0.59	PPIH
SLND	-0.44	-0.69	-0.42	-0.15		0.41	0.62	-0.3	0.66	-0.57	SLND
NVX	-0.06	-0.04	0.09	0.05	0.41		0.27	0.02	0.62	0.01	NVX
SPCE	-0.49	-0.74	-0.56	-0.47	0.62	0.27		-0.69	0.51	-0.65	SPCE
PAMT	0.49	0.69	0.72	0.79	-0.3	0.02	-0.69		-0.4	0.62	PAMT
SLDP	-0.11	-0.31	-0.21	-0.43	0.66	0.62	0.51	-0.4		-0.28	SLDP
FC	0.73	0.87	0.84	0.59	-0.57	0.01	-0.65	0.62	-0.28		FC
	PESI	SHMD	TWIN	PPIH	SLND	NVX	SPCE	PAMT	SLDP	FC

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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

FC	+ 0.87	SHMD
FC	+ 0.84	TWIN
TWIN	+ 0.81	SHMD
PAMT	+ 0.79	PPIH
SHMD	+ 0.77	PESI
FC	+ 0.73	PESI

High negative correlations

SPCE	- 0.74	SHMD
PAMT	- 0.69	SPCE
SLND	- 0.69	SHMD
FC	- 0.65	SPCE
FC	- 0.57	SLND
SPCE	- 0.56	TWIN

Risk-Adjusted Indicators

There is a big difference between Tredegar Stock performing well and Tredegar 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 Tredegar'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
PESI	2.54	(0.11)	(0.01)	0.01	3.58	(2.51)	5.98	(5.11)	16.55
SHMD	6.35	0.48	0.08	0.20	7.07	(7.22)	14.63	(12.92)	32.71
TWIN	2.44	0.11	0.03	0.15	3.66	(2.56)	4.75	(4.26)	21.23
PPIH	2.44	0.13	0.07	0.12	2.76	(2.71)	5.23	(4.06)	21.94
SLND	4.43	(1.57)	0.00	(0.48)	0.00	0.00	8.20	(13.96)	33.71
NVX	3.92	(0.54)	0.00	(0.12)	0.00	0.00	7.92	(7.14)	33.61
SPCE	3.77	(0.51)	0.00	(0.22)	0.00	0.00	6.72	(8.56)	27.80
PAMT	3.00	0.12	0.05	0.13	3.22	(3.53)	7.34	(6.15)	17.24
SLDP	3.56	(1.09)	0.00	(0.48)	0.00	0.00	5.89	(8.23)	19.34
FC	1.80	0.19	0.10	0.18	2.02	(1.99)	4.53	(3.73)	10.78

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