Tandy Leather Correlations

TLF Stock

USD 2.80 0.09 3.32%

The current 90-days correlation between Tandy Leather Factory and JBDI Holdings Limited is 0.06 (i.e., Significant diversification). The correlation of Tandy Leather 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.

Tandy Leather Correlation With Market

Modest diversification

The correlation between Tandy Leather Factory and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tandy Leather Factory and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tandy Stock

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

Moving together with Tandy Stock

0.77	AZI	Autozi Internet Tech	Pair Corr
0.76	CURV	Torrid Holdings	Pair Corr
0.66	EPGG	Empire Global Gaming	Pair Corr

Moving against Tandy Stock

0.83	IRNRF	Iron Road Limited	Pair Corr
0.81	ROST	Ross Stores	Pair Corr
0.81	FTV	Fortive Corp	Pair Corr
0.8	LCDX	Caliber Imaging Diag	Pair Corr
0.78	AEO	American Eagle Outfitters	Pair Corr
0.77	GSTX	Graphene Solar Techn	Pair Corr
0.72	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.7	NAUFF	NevGold Corp	Pair Corr
0.69	DGWPF	Drgerwerk AG	Pair Corr
0.69	CASXF	Casa Minerals	Pair Corr
0.65	ANF	Abercrombie Fitch	Pair Corr
0.59	SMXWW	SMX Public Limited	Pair Corr
0.49	URBN	Urban Outfitters	Pair Corr
0.46	DB	Deutsche Bank AG	Pair Corr

Related Correlations Analysis

	SBDS	JBDI	EVGO	LITB	MOGU	ARKR	MI	FORD	TBHC	REE
SBDS		0.9	0.88	0.31	0.9	0.65	-0.06	0.15	0.91	0.65	SBDS
JBDI	0.9		0.91	0.13	0.91	0.47	-0.07	-0.12	0.9	0.56	JBDI
EVGO	0.88	0.91		0.15	0.91	0.45	0.06	-0.15	0.88	0.47	EVGO
LITB	0.31	0.13	0.15		0.06	0.2	0.19	0.64	0.31	0.55	LITB
MOGU	0.9	0.91	0.91	0.06		0.53	-0.08	-0.05	0.86	0.44	MOGU
ARKR	0.65	0.47	0.45	0.2	0.53		-0.29	0.47	0.61	0.37	ARKR
MI	-0.06	-0.07	0.06	0.19	-0.08	-0.29		-0.17	-0.16	0.06	MI
FORD	0.15	-0.12	-0.15	0.64	-0.05	0.47	-0.17		0.13	0.33	FORD
TBHC	0.91	0.9	0.88	0.31	0.86	0.61	-0.16	0.13		0.55	TBHC
REE	0.65	0.56	0.47	0.55	0.44	0.37	0.06	0.33	0.55		REE
	SBDS	JBDI	EVGO	LITB	MOGU	ARKR	MI	FORD	TBHC	REE

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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

TBHC	+ 0.91	SBDS
EVGO	+ 0.91	JBDI
MOGU	+ 0.91	JBDI
MOGU	+ 0.91	EVGO
JBDI	+ 0.9	SBDS
MOGU	+ 0.9	SBDS

High negative correlations

MI	- 0.29	ARKR
FORD	- 0.17	MI
TBHC	- 0.16	MI
FORD	- 0.15	EVGO
FORD	- 0.12	JBDI
MI	- 0.08	MOGU

Risk-Adjusted Indicators

There is a big difference between Tandy Stock performing well and Tandy Leather 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 Tandy Leather'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
SBDS	5.72	(1.16)	0.00	(0.34)	0.00	0.00	11.43	(12.70)	50.66
JBDI	5.21	(0.94)	0.00	(1.62)	0.00	0.00	12.04	(11.11)	43.87
EVGO	2.77	(0.90)	0.00	(0.25)	0.00	0.00	5.77	(6.14)	22.17
LITB	4.93	0.33	0.08	0.20	5.34	(5.30)	15.14	(9.47)	32.15
MOGU	2.54	(0.74)	0.00	(0.62)	0.00	0.00	5.36	(5.33)	20.10
ARKR	1.81	(0.09)	0.00	0.60	0.00	0.00	3.62	(5.82)	12.34
MI	2.54	0.13	0.05	0.12	3.67	(2.87)	7.41	(6.98)	23.69
FORD	8.03	(0.14)	0.00	(0.19)	0.00	0.00	14.99	(12.08)	84.00
TBHC	2.69	(0.43)	0.00	(0.41)	0.00	0.00	4.73	(6.52)	22.39
REE	5.09	0.25	0.04	0.34	5.31	(6.78)	11.43	(8.97)	41.77

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