Twin Disc Correlations

TWN Stock

EUR 15.00 0.10 0.66%

The current 90-days correlation between Twin Disc and BANK MANDIRI is -0.01 (i.e., Good diversification). The correlation of Twin Disc 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.

Twin Disc Correlation With Market

Very poor diversification

The correlation between Twin Disc Incorporated and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Twin Disc Incorporated and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Twin Disc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Twin Disc 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 Twin Disc - 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 Twin Disc Incorporated to buy it.

Moving together with Twin Stock

0.76	YAR	Yara International ASA Earnings Call This Week	Pair Corr
0.63	XPH	Amphenol	Pair Corr
0.66	PPQ	PPG INDUSTRIES	Pair Corr
0.74	DG1	DAWSON GEOPHYSICAL	Pair Corr
0.67	HIUC	China Taiping Insurance	Pair Corr
0.82	10N	Enter Air SA	Pair Corr
0.65	6VD	BD MULTI MEDIA Split	Pair Corr
0.64	TWA	TOWA	Pair Corr
0.81	LA3A	Laureate Education Earnings Call This Week	Pair Corr
0.63	TWZ	Trican Well Service Earnings Call Tomorrow	Pair Corr
0.82	G40	GDS Holdings Limited	Pair Corr
0.7	CWA0	REFINED METALS P	Pair Corr
0.82	FPP0	ALTYNGOLD PLC LS	Pair Corr
0.69	RATV	Raisio plc	Pair Corr
0.78	3RB	RECKITT BENCK GRP	Pair Corr
0.65	3YC	STV GROUP PLC	Pair Corr
0.82	BSI	BE Semiconductor Ind Earnings Call This Week	Pair Corr
0.81	PYCP	Minera Alamos Split	Pair Corr
0.72	ALV	Allianz SE	Pair Corr
0.72	UTDI	UNITED INTERNET N	Pair Corr
0.81	485B	Amcor PLC Split	Pair Corr
0.67	CVC1	Carnival plc	Pair Corr

Moving against Twin Stock

0.74	6YG	IMMUNOCORE HLDGS ADS1	Pair Corr
0.51	8CW	Crown Castle Interna	Pair Corr
0.46	KMY	Kimberly Clark	Pair Corr
0.45	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.83	DBPD	Xtrackers ShortDAX	Pair Corr
0.57	3HB	Hybrigenics Societe	Pair Corr

Related Correlations Analysis

	BYRA	BYRA	BYRA	BYRA	BZG2	BZG2	BZG2	PQ9	PQ9	PQ9
BYRA		0.29	0.04	0.45	0.65	0.03	0.02	-0.06	-0.03	0.09	BYRA
BYRA	0.29		-0.35	-0.36	0.33	0.77	0.61	-0.12	-0.24	-0.46	BYRA
BYRA	0.04	-0.35		0.28	0.13	-0.37	-0.41	0.16	0.16	0.22	BYRA
BYRA	0.45	-0.36	0.28		0.38	-0.54	-0.57	0.18	0.39	0.49	BYRA
BZG2	0.65	0.33	0.13	0.38		0.23	0.06	-0.21	-0.19	-0.14	BZG2
BZG2	0.03	0.77	-0.37	-0.54	0.23		0.78	-0.24	-0.41	-0.55	BZG2
BZG2	0.02	0.61	-0.41	-0.57	0.06	0.78		-0.04	-0.15	-0.35	BZG2
PQ9	-0.06	-0.12	0.16	0.18	-0.21	-0.24	-0.04		0.5	0.4	PQ9
PQ9	-0.03	-0.24	0.16	0.39	-0.19	-0.41	-0.15	0.5		0.59	PQ9
PQ9	0.09	-0.46	0.22	0.49	-0.14	-0.55	-0.35	0.4	0.59		PQ9
	BYRA	BYRA	BYRA	BYRA	BZG2	BZG2	BZG2	PQ9	PQ9	PQ9

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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

BZG2	+ 0.78	BZG2
BZG2	+ 0.77	BYRA
BZG2	+ 0.65	BYRA
BZG2	+ 0.61	BYRA
PQ9	+ 0.59	PQ9
PQ9	+ 0.5	PQ9

High negative correlations

BZG2	- 0.57	BYRA
PQ9	- 0.55	BZG2
BZG2	- 0.54	BYRA
PQ9	- 0.46	BYRA
PQ9	- 0.41	BZG2
BZG2	- 0.41	BYRA

Risk-Adjusted Indicators

There is a big difference between Twin Stock performing well and Twin Disc 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 Twin Disc'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
BYRA	0.86	(0.04)	0.00	0.14	0.00	0.00	5.88	(5.56)	12.13
BYRA	1.29	(0.22)	0.00	(0.39)	0.00	0.00	5.00	(5.00)	35.71
BYRA	4.14	0.38	0.04	(0.35)	4.34	(7.93)	11.11	(10.00)	26.67
BYRA	1.72	0.15	0.01	(0.29)	2.16	(6.44)	5.88	(5.56)	17.03
BZG2	0.66	(0.07)	0.00	5.33	0.00	0.00	2.56	(2.50)	5.26
BZG2	0.75	(0.23)	0.00	(1.14)	0.00	0.00	0.00	(2.56)	12.89
BZG2	2.74	(0.27)	0.00	1.53	0.00	0.00	7.50	(7.69)	20.00
PQ9	4.85	0.27	0.03	0.18	5.73	(9.30)	17.39	(14.29)	40.26
PQ9	0.87	0.08	0.00	0.56	0.00	0.00	4.00	0.00	24.58
PQ9	0.69	0.07	0.00	1.05	0.00	0.00	4.55	(4.35)	9.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Twin Disc 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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Twin Disc Corporate Management

Elected by the shareholders, the Twin Disc's board of directors comprises two types of representatives: Twin Disc inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Twin. The board's role is to monitor Twin Disc's management team and ensure that shareholders' interests are well served. Twin Disc's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Twin Disc's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jeffrey Knutson	CFO, Fin	Profile
Mike Kienast	Corporate Controller	Profile
Greg Mueller	Director Marketing	Profile
Brian Plemel	Chief Officer	Profile
Robin Schilz	Chief Officer	Profile

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