TechPrecision Common Correlations

TPCS Stock

USD 4.45 0.06 1.33%

The current 90-days correlation between TechPrecision Common and Custom Truck One is -0.16 (i.e., Good diversification). The correlation of TechPrecision Common 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. If the correlation is 0, the equities are not correlated; they are entirely random.

TechPrecision Common Correlation With Market

Poor diversification

The correlation between TechPrecision Common and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechPrecision Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TechPrecision Stock

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

For more information on how to buy TechPrecision Stock please use our How to Invest in TechPrecision Common guide.

Moving together with TechPrecision Stock

0.61	BRCK	Brickability Group Plc	Pair Corr
0.75	AZ	A2Z Smart Technologies	Pair Corr
0.71	PL	Planet Labs PBC	Pair Corr
0.61	TE	T1 Energy Symbol Change	Pair Corr
0.72	FTON	Feintool International	Pair Corr

Moving against TechPrecision Stock

0.49	CXT	Crane NXT Earnings Call This Week	Pair Corr
0.42	EPOW	Sunrise New Energy	Pair Corr
0.53	XPON	Expion360	Pair Corr
0.5	EML	Eastern	Pair Corr
0.32	MPU	Mega Matrix Corp	Pair Corr

Related Correlations Analysis

	CRAI	GBX	CCEC	BV	EVEX	JBI	LNN	RHLD	CTOS
CRAI		0.46	0.29	0.55	0.54	0.32	0.5	0.72	0.25	CRAI
GBX	0.46		0.56	0.86	-0.04	0.14	0.95	0.62	0.73	GBX
CCEC	0.29	0.56		0.63	0.16	0.22	0.55	0.51	0.55	CCEC
BV	0.55	0.86	0.63		0.14	0.21	0.88	0.69	0.8	BV
EVEX	0.54	-0.04	0.16	0.14		-0.01	0.05	0.46	0.08	EVEX
JBI	0.32	0.14	0.22	0.21	-0.01		0.23	-0.06	0.16	JBI
LNN	0.5	0.95	0.55	0.88	0.05	0.23		0.66	0.8	LNN
RHLD	0.72	0.62	0.51	0.69	0.46	-0.06	0.66		0.45	RHLD
CTOS	0.25	0.73	0.55	0.8	0.08	0.16	0.8	0.45		CTOS
	CRAI	GBX	CCEC	BV	EVEX	JBI	LNN	RHLD	CTOS

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

LNN	+ 0.95	GBX
LNN	+ 0.88	BV
BV	+ 0.86	GBX
CTOS	+ 0.8	BV
CTOS	+ 0.8	LNN
CTOS	+ 0.73	GBX

High negative correlations

RHLD	- 0.06	JBI
EVEX	- 0.04	GBX
JBI	- 0.01	EVEX

Risk-Adjusted Indicators

There is a big difference between TechPrecision Stock performing well and TechPrecision Common 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 TechPrecision Common'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
CRAI	1.72	(0.12)	0.00	(0.03)	0.00	0.00	3.15	(4.49)	13.09
GBX	1.29	0.38	0.15	0.65	1.91	(1.43)	3.10	(1.95)	15.69
CCEC	1.61	(0.04)	0.00	(0.07)	0.00	0.00	3.91	(3.55)	8.78
BV	1.22	0.06	0.04	0.13	1.56	(1.32)	3.21	(2.87)	10.71
EVEX	2.97	(0.44)	0.00	(0.12)	0.00	0.00	5.46	(6.70)	25.14
JBI	2.07	(0.54)	0.00	(0.15)	0.00	0.00	3.64	(3.43)	25.73
LNN	1.29	0.21	0.12	0.31	1.33	(1.38)	2.78	(2.68)	8.40
RHLD	3.40	0.52	0.09	8.09	4.28	(3.45)	8.67	(8.62)	22.19
CTOS	1.96	0.10	0.10	0.13	1.77	(2.68)	5.53	(3.54)	15.80

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