Turning Point Correlations

TPB Stock

USD 57.58 1.12 1.98%

The current 90-days correlation between Turning Point Brands and Universal is 0.46 (i.e., Very weak 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

Significant diversification

The correlation between Turning Point Brands and DJI is 0.04 (i.e., Significant 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.

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

Moving together with Turning Stock

0.83	MO	Altria Group	Pair Corr
0.89	TR	Tootsie Roll Industries	Pair Corr
0.89	BTI	British American Tobacco	Pair Corr
0.83	FDP	Fresh Del Monte	Pair Corr
0.62	FRPT	Freshpet	Pair Corr
0.64	JVA	Coffee Holding Potential Growth	Pair Corr
0.74	LSF	Laird Superfood Downward Rally	Pair Corr
0.61	RLX	RLX Technology	Pair Corr

Moving against Turning Stock

0.71	BGS	BG Foods	Pair Corr
0.69	ADM	Archer Daniels Midland	Pair Corr
0.57	DOLE	Dole PLC	Pair Corr
0.46	FAMI	Farmmi Inc	Pair Corr
0.44	BG	Bunge Limited	Pair Corr
0.83	DDC	DDC Enterprise	Pair Corr
0.79	BUD	Anheuser Busch Inbev	Pair Corr
0.77	FMX	Fomento Economico	Pair Corr
0.72	CAG	ConAgra Foods	Pair Corr
0.62	GIS	General Mills	Pair Corr
0.61	CPB	Campbell Soup	Pair Corr
0.31	FLO	Flowers Foods	Pair Corr
0.83	THS	Treehouse Foods	Pair Corr
0.79	KHC	Kraft Heinz	Pair Corr
0.79	SEB	Seaboard	Pair Corr
0.52	LND	Brasilagro Adr	Pair Corr
0.41	RGF	Real Good Food	Pair Corr

Related Correlations Analysis

	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO
UVV		0.73	0.83	0.35	0.67	0.15	0.57	0.01	0.62	0.87	UVV
IMBBY	0.73		0.92	-0.04	0.93	-0.29	0.85	0.04	0.8	0.57	IMBBY
BTI	0.83	0.92		0.04	0.84	-0.19	0.75	0.1	0.84	0.7	BTI
PM	0.35	-0.04	0.04		-0.02	0.39	0.01	-0.28	-0.14	0.49	PM
VGR	0.67	0.93	0.84	-0.02		-0.5	0.79	-0.12	0.73	0.61	VGR
JAPAY	0.15	-0.29	-0.19	0.39	-0.5		-0.2	0.2	-0.24	0.11	JAPAY
IMBBF	0.57	0.85	0.75	0.01	0.79	-0.2		0.04	0.69	0.44	IMBBF
JAPAF	0.01	0.04	0.1	-0.28	-0.12	0.2	0.04		0.21	-0.07	JAPAF
BTAFF	0.62	0.8	0.84	-0.14	0.73	-0.24	0.69	0.21		0.46	BTAFF
MO	0.87	0.57	0.7	0.49	0.61	0.11	0.44	-0.07	0.46		MO
	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO

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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

VGR	+ 0.93	IMBBY
BTI	+ 0.92	IMBBY
MO	+ 0.87	UVV
IMBBF	+ 0.85	IMBBY
VGR	+ 0.84	BTI
BTAFF	+ 0.84	BTI

High negative correlations

JAPAY	- 0.5	VGR
JAPAY	- 0.29	IMBBY
JAPAF	- 0.28	PM
BTAFF	- 0.24	JAPAY
IMBBF	- 0.2	JAPAY
JAPAY	- 0.19	BTI

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
UVV	1.05	0.03	0.02	0.07	1.50	(0.97)	2.22	(2.42)	6.25
IMBBY	0.81	0.14	0.15	0.55	0.81	(0.96)	2.38	(1.43)	4.92
BTI	0.67	0.06	0.06	0.24	0.84	(0.71)	1.59	(1.53)	4.85
PM	1.08	0.02	0.01	(0.75)	1.61	(1.02)	1.98	(1.91)	15.68
VGR	1.05	0.55	0.76	2.44	0.00	(1.32)	3.38	(0.96)	8.71
JAPAY	0.80	(0.23)	0.00	(4.02)	0.00	0.00	1.93	(1.55)	6.83
IMBBF	2.40	0.18	0.06	0.29	2.75	(2.66)	5.50	(5.19)	12.91
JAPAF	1.89	(0.12)	0.00	1.34	0.00	0.00	2.70	(7.07)	26.00
BTAFF	1.88	(0.01)	0.00	0.01	2.39	(2.08)	5.14	(4.25)	12.29
MO	0.82	0.07	0.07	0.25	0.89	(0.85)	1.50	(1.43)	10.39

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