Tutor Perini Correlations

TPC Stock

USD 83.39 1.66 2.03%

The current 90-days correlation between Tutor Perini and MYR Group is 0.61 (i.e., Poor diversification). The correlation of Tutor Perini 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.

Tutor Perini Correlation With Market

Very poor diversification

The correlation between Tutor Perini and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tutor Perini and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tutor Stock

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

For information on how to trade Tutor Stock refer to our How to Trade Tutor Stock guide.

Moving together with Tutor Stock

0.9	EN	Bouygues SA	Pair Corr
0.94	ACA	Arcosa Inc	Pair Corr
0.94	APG	Api Group Corp	Pair Corr
0.71	FLR	Fluor Earnings Call This Week	Pair Corr
0.91	GVA	Granite Construction	Pair Corr
0.78	JFB	JFB Construction Holdings	Pair Corr
0.87	LMB	Limbach Holdings	Pair Corr
0.96	MTZ	MasTec Inc	Pair Corr
0.76	PWR	Quanta Services Earnings Call This Week	Pair Corr
0.74	WSC	Willscot Mobile Mini Earnings Call This Week	Pair Corr
0.94	GLDD	Great Lakes Dredge Earnings Call This Week	Pair Corr
0.83	FGR	Eiffage SA	Pair Corr
0.71	IESC	IES Holdings	Pair Corr
0.64	PO6	Penta-Ocean Construction	Pair Corr
0.88	MYRG	MYR Group	Pair Corr
0.9	BDT	Bird Construction	Pair Corr
0.95	PRIM	Primoris Services	Pair Corr
0.77	ROAD	Construction Partners	Pair Corr
0.93	SHIM	Shimmick Common	Pair Corr
0.95	ARE	Aecon Group	Pair Corr
0.7	IMPN	Implenia AG	Pair Corr
0.74	TCW	Tokyu Construction	Pair Corr

Moving against Tutor Stock

0.85	DRT	DIRTT Environmental	Pair Corr
0.77	FGL	Founder Group Limited Trending	Pair Corr
0.59	ACM	Aecom Technology Sell-off Trend	Pair Corr
0.77	SLND	Southland Holdings	Pair Corr

Related Correlations Analysis

	MYRG	FLY	AGX	BRC	HAYW	CAAP	GVA	VSEC	EAF	EXPO
MYRG		0.44	0.55	0.82	0.58	0.73	0.72	0.75	-0.23	0.36	MYRG
FLY	0.44		-0.04	0.38	0.39	0.52	0.63	0.76	0.5	0.45	FLY
AGX	0.55	-0.04		0.46	0.43	0.25	0.19	0.38	-0.42	-0.02	AGX
BRC	0.82	0.38	0.46		0.6	0.81	0.88	0.71	-0.3	0.42	BRC
HAYW	0.58	0.39	0.43	0.6		0.52	0.53	0.68	-0.06	0.65	HAYW
CAAP	0.73	0.52	0.25	0.81	0.52		0.87	0.7	0.1	0.53	CAAP
GVA	0.72	0.63	0.19	0.88	0.53	0.87		0.75	-0.01	0.52	GVA
VSEC	0.75	0.76	0.38	0.71	0.68	0.7	0.75		0.09	0.47	VSEC
EAF	-0.23	0.5	-0.42	-0.3	-0.06	0.1	-0.01	0.09		0.14	EAF
EXPO	0.36	0.45	-0.02	0.42	0.65	0.53	0.52	0.47	0.14		EXPO
	MYRG	FLY	AGX	BRC	HAYW	CAAP	GVA	VSEC	EAF	EXPO

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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

GVA	+ 0.88	BRC
GVA	+ 0.87	CAAP
BRC	+ 0.82	MYRG
CAAP	+ 0.81	BRC
VSEC	+ 0.76	FLY
VSEC	+ 0.75	MYRG

High negative correlations

EAF	- 0.42	AGX
EAF	- 0.3	BRC
EAF	- 0.23	MYRG
EAF	- 0.06	HAYW
AGX	- 0.04	FLY
EXPO	- 0.02	AGX

Risk-Adjusted Indicators

There is a big difference between Tutor Stock performing well and Tutor Perini 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 Tutor Perini'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
MYRG	2.07	0.14	0.06	0.18	2.49	(2.19)	4.31	(4.84)	12.17
FLY	6.31	0.09	0.02	0.11	7.24	(6.77)	16.02	(12.87)	36.50
AGX	3.58	0.47	0.11	0.58	3.93	(4.11)	7.82	(7.35)	23.61
BRC	0.90	0.34	0.27	0.89	0.77	(1.09)	2.35	(1.61)	5.12
HAYW	1.12	(0.03)	(0.01)	0.05	1.09	(1.68)	3.15	(1.90)	8.28
CAAP	1.55	0.30	0.17	0.37	1.45	(1.77)	4.22	(2.41)	8.44
GVA	1.02	0.35	0.32	0.47	0.68	(1.27)	2.62	(1.47)	5.83
VSEC	2.43	0.13	0.06	0.15	2.92	(2.84)	4.95	(3.25)	21.74
EAF	4.63	(0.58)	0.00	52.35	0.00	0.00	7.10	(8.31)	56.12
EXPO	1.51	(0.18)	0.00	(0.03)	0.00	0.00	2.96	(2.80)	18.47

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