Tennant Correlations
TNC Stock | USD 89.69 1.80 2.05% |
The correlation of Tennant 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.
Tennant Correlation With Market
Poor diversification
The correlation between Tennant Company and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tennant Company and DJI in the same portfolio, assuming nothing else is changed.
Tennant |
Moving together with Tennant Stock
Moving against Tennant Stock
0.58 | AME | Ametek Inc | PairCorr |
0.54 | EPAC | Enerpac Tool Group | PairCorr |
0.53 | CMI | Cummins | PairCorr |
0.51 | PH | Parker Hannifin | PairCorr |
0.5 | B | Barnes Group | PairCorr |
0.44 | CR | Crane Company | PairCorr |
0.33 | IR | Ingersoll Rand | PairCorr |
0.68 | JBT | John Bean Technologies | PairCorr |
0.62 | MIR | Mirion Technologies | PairCorr |
0.57 | PNR | Pentair PLC | PairCorr |
0.54 | NNE | Nano Nuclear Energy Trending | PairCorr |
0.53 | XMTR | Xometry | PairCorr |
0.52 | EMR | Emerson Electric | PairCorr |
0.51 | KAI | Kadant Inc | PairCorr |
0.49 | ETN | Eaton PLC | PairCorr |
0.49 | FLS | Flowserve | PairCorr |
0.47 | ITW | Illinois Tool Works | PairCorr |
0.46 | IEX | IDEX | PairCorr |
0.46 | MWA | Mueller Water Products Fiscal Year End 11th of December 2024 | PairCorr |
0.41 | GHM | Graham | PairCorr |
0.4 | DOV | Dover | PairCorr |
0.35 | DCI | Donaldson Earnings Call This Week | PairCorr |
0.67 | SMR | Nuscale Power Corp Trending | PairCorr |
0.59 | GTES | Gates Industrial | PairCorr |
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 Tennant Stock performing well and Tennant 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 Tennant'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
MSTSX | 0.48 | (0.04) | (0.13) | 0.06 | 0.50 | 1.21 | 2.80 | |||
ABHYX | 0.17 | 0.02 | (0.25) | (0.03) | 0.26 | 0.34 | 1.91 | |||
LBHIX | 0.11 | 0.01 | (0.41) | 0.46 | 0.00 | 0.24 | 0.96 | |||
SCAXF | 0.70 | (0.37) | 0.00 | (25.57) | 0.00 | 0.00 | 23.47 | |||
VIASP | 0.72 | 0.00 | (0.02) | 0.00 | 1.05 | 2.28 | 7.18 | |||
RRTLX | 0.24 | (0.02) | (0.31) | 0.05 | 0.24 | 0.56 | 1.37 | |||
OSHDF | 39.65 | 20.22 | 0.00 | (24.88) | 0.00 | 0.00 | 1,329 | |||
JRBEX | 0.35 | (0.03) | (0.21) | 0.05 | 0.40 | 0.79 | 2.14 | |||
70082LAB3 | 1.00 | 0.07 | (0.04) | (0.12) | 2.25 | 1.75 | 24.27 |