Trade Desk Correlations

TT8 Stock

122.96 1.30 1.05%

The current 90-days correlation between Trade Desk and Apple Inc is 0.2 (i.e., Modest diversification). The correlation of Trade Desk 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.

Trade Desk Correlation With Market

Weak diversification

The correlation between The Trade Desk and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Trade Desk and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Trade Desk could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Trade Desk when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Trade Desk - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling The Trade Desk to buy it.

Moving together with Trade Stock

0.74	APC	Apple Inc	Pair Corr
0.8	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.79	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	DP4B	AP Mller	Pair Corr
0.61	DP4A	AP Mller	Pair Corr

Moving against Trade Stock

0.81	1Q6	Prosafe SE	Pair Corr
0.69	S0V	Seaboard	Pair Corr
0.64	WWG	Gelsenwasser AG	Pair Corr
0.57	DBPD	Xtrackers ShortDAX	Pair Corr
0.44	HHX	HAMMONIA Schiffsholding	Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF
APC		0.87	0.84	0.83	0.99	0.69	0.66	0.67	0.63	APC
APC	0.87		0.98	0.98	0.87	0.59	0.57	0.57	0.56	APC
APC	0.84	0.98		0.98	0.84	0.54	0.52	0.53	0.5	APC
APC	0.83	0.98	0.98		0.84	0.55	0.54	0.53	0.52	APC
APC	0.99	0.87	0.84	0.84		0.69	0.66	0.67	0.63	APC
MSF	0.69	0.59	0.54	0.55	0.69		0.98	0.99	0.96	MSF
MSF	0.66	0.57	0.52	0.54	0.66	0.98		0.98	0.96	MSF
MSF	0.67	0.57	0.53	0.53	0.67	0.99	0.98		0.96	MSF
MSF	0.63	0.56	0.5	0.52	0.63	0.96	0.96	0.96		MSF
	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Trade Stock performing well and Trade Desk 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 Trade Desk'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
APC	1.07	0.07	(0.01)	0.35	1.35	(1.05)	2.12	(2.21)	6.17
APC	1.10	0.08	0.01	0.27	1.37	(1.16)	2.14	(2.22)	6.90
APC	1.11	0.07	0.02	0.22	1.45	(1.15)	2.24	(2.65)	9.79
APC	1.19	0.06	0.02	0.21	1.23	(1.51)	2.96	(2.05)	8.21
APC	0.94	0.11	0.00	1.00	1.25	(1.00)	2.29	(2.15)	7.12
MSF	0.99	0.08	0.00	0.36	1.22	(1.28)	2.10	(1.40)	8.71
MSF	0.96	0.10	0.01	0.44	1.35	(1.09)	2.27	(1.75)	9.11
MSF	1.04	0.10	0.00	0.61	1.44	(1.29)	2.17	(1.64)	11.42
MSF	0.95	0.06	(0.03)	0.52	1.35	(1.05)	1.85	(1.53)	8.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in Trade Desk without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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