Townsquare Media Correlations

TSQ Stock

USD 10.01 0.02 0.20%

The current 90-days correlation between Townsquare Media and Marchex is -0.01 (i.e., Good diversification). The correlation of Townsquare Media 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.

Townsquare Media Correlation With Market

Very weak diversification

The correlation between Townsquare Media and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Townsquare Media 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 Townsquare Media. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

To learn how to invest in Townsquare Stock, please use our How to Invest in Townsquare Media guide.

Moving together with Townsquare Stock

0.63

GCI

Gannett

Pair Corr

Moving against Townsquare Stock

0.33	EEX	Emerald Expositions	Pair Corr
0.31	TU	Telus Corp	Pair Corr

Related Correlations Analysis

	MMDDF	INEOF	KDOZF	MCHX	SNIPF	EVC	DRCT	CMPR	OMC
MMDDF		-0.2	0.12	0.47	0.41	-0.8	0.55	0.65	-0.58	MMDDF
INEOF	-0.2		-0.29	0.01	-0.57	-0.16	0.15	-0.45	0.39	INEOF
KDOZF	0.12	-0.29		0.19	0.27	-0.09	-0.14	0.16	-0.32	KDOZF
MCHX	0.47	0.01	0.19		0.45	-0.44	0.48	0.58	-0.15	MCHX
SNIPF	0.41	-0.57	0.27	0.45		-0.29	0.02	0.69	-0.35	SNIPF
EVC	-0.8	-0.16	-0.09	-0.44	-0.29		-0.35	-0.54	0.49	EVC
DRCT	0.55	0.15	-0.14	0.48	0.02	-0.35		0.32	-0.02	DRCT
CMPR	0.65	-0.45	0.16	0.58	0.69	-0.54	0.32		-0.43	CMPR
OMC	-0.58	0.39	-0.32	-0.15	-0.35	0.49	-0.02	-0.43		OMC
	MMDDF	INEOF	KDOZF	MCHX	SNIPF	EVC	DRCT	CMPR	OMC

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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

CMPR	+ 0.69	SNIPF
CMPR	+ 0.65	MMDDF
CMPR	+ 0.58	MCHX
DRCT	+ 0.55	MMDDF
OMC	+ 0.49	EVC
DRCT	+ 0.48	MCHX

High negative correlations

EVC	- 0.8	MMDDF
OMC	- 0.58	MMDDF
SNIPF	- 0.57	INEOF
CMPR	- 0.54	EVC
CMPR	- 0.45	INEOF
EVC	- 0.44	MCHX

Risk-Adjusted Indicators

There is a big difference between Townsquare Stock performing well and Townsquare Media 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 Townsquare Media'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
MMDDF	2.70	(1.38)	0.00	8.12	0.00	0.00	0.00	0.00	49.21
INEOF	2.11	0.08	0.00	0.19	0.00	0.00	0.69	0.00	79.58
KDOZF	30.07	10.69	0.15	(1.84)	21.10	(151.38)	133.33	(60.00)	420.00
MCHX	2.36	(0.33)	0.00	(1.79)	0.00	0.00	5.85	(5.29)	16.97
SNIPF	4.41	0.33	0.01	(0.13)	4.71	(6.80)	11.11	(9.29)	43.58
EVC	2.26	0.20	0.12	0.21	2.30	(3.04)	5.05	(4.41)	14.74
DRCT	5.42	(1.15)	0.00	(0.71)	0.00	0.00	8.40	(16.56)	55.53
CMPR	2.03	(0.33)	0.00	(0.08)	0.00	0.00	3.76	(4.08)	16.61
OMC	0.95	(0.02)	(0.02)	0.10	1.54	(0.99)	1.82	(1.24)	10.11

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