Tri Continental Correlations

TY Stock

USD 32.64 0.04 0.12%

The current 90-days correlation between Tri Continental Closed and Eaton Vance Tax is 0.24 (i.e., Modest diversification). The correlation of Tri Continental 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.

Tri Continental Correlation With Market

Significant diversification

The correlation between Tri Continental Closed and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tri Continental Closed 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 Tri Continental Closed. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Tri Stock

0.75	DHIL	Diamond Hill Investment	Pair Corr
0.72	AX	Axos Financial	Pair Corr
0.69	BX	Blackstone Group	Pair Corr
0.69	BY	Byline Bancorp	Pair Corr
0.65	CB	Chubb	Pair Corr
0.73	FG	FG Annuities Life	Pair Corr
0.79	IX	Orix Corp Ads Earnings Call This Week	Pair Corr
0.7	PB	Prosperity Bancshares	Pair Corr
0.78	RF	Regions Financial	Pair Corr
0.86	RY	Royal Bank	Pair Corr

Moving against Tri Stock

0.35	LX	Lexinfintech Holdings Downward Rally	Pair Corr
0.31	LION	Lionsgate Studios Corp	Pair Corr
0.5	RJF-PB	Raymond James Financial	Pair Corr
0.32	TECTP	Tectonic Financial	Pair Corr

Related Correlations Analysis

	ETG	MYD	EVT	ETB	NXC	CET	IHTA	MVF	IHIT	KTF
ETG		0.62	0.78	0.12	0.38	0.82	-0.28	0.65	0.16	0.57	ETG
MYD	0.62		0.64	-0.35	0.65	0.41	-0.7	0.8	0.14	0.92	MYD
EVT	0.78	0.64		0.25	0.29	0.88	-0.11	0.78	-0.3	0.7	EVT
ETB	0.12	-0.35	0.25		-0.72	0.5	0.81	-0.01	-0.6	-0.21	ETB
NXC	0.38	0.65	0.29	-0.72		0.05	-0.79	0.5	0.47	0.56	NXC
CET	0.82	0.41	0.88	0.5	0.05		0.14	0.61	-0.25	0.47	CET
IHTA	-0.28	-0.7	-0.11	0.81	-0.79	0.14		-0.38	-0.51	-0.6	IHTA
MVF	0.65	0.8	0.78	-0.01	0.5	0.61	-0.38		-0.14	0.84	MVF
IHIT	0.16	0.14	-0.3	-0.6	0.47	-0.25	-0.51	-0.14		-0.07	IHIT
KTF	0.57	0.92	0.7	-0.21	0.56	0.47	-0.6	0.84	-0.07		KTF
	ETG	MYD	EVT	ETB	NXC	CET	IHTA	MVF	IHIT	KTF

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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

KTF	+ 0.92	MYD
CET	+ 0.88	EVT
KTF	+ 0.84	MVF
CET	+ 0.82	ETG
IHTA	+ 0.81	ETB
MVF	+ 0.8	MYD

High negative correlations

IHTA	- 0.79	NXC
NXC	- 0.72	ETB
IHTA	- 0.7	MYD
KTF	- 0.6	IHTA
IHIT	- 0.6	ETB
IHIT	- 0.51	IHTA

Risk-Adjusted Indicators

There is a big difference between Tri Stock performing well and Tri Continental 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 Tri Continental'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
ETG	0.61	(0.01)	(0.05)	0.05	1.02	(0.54)	1.24	(1.31)	5.38
MYD	0.54	(0.05)	0.00	4.48	0.00	0.00	1.01	(1.09)	3.23
EVT	0.55	0.03	(0.03)	0.20	0.61	(0.63)	1.06	(1.01)	5.21
ETB	0.45	0.11	0.06	(1.34)	0.41	(0.50)	1.03	(0.95)	3.11
NXC	0.43	(0.06)	0.00	(0.26)	0.00	0.00	0.82	(0.97)	3.97
CET	0.55	0.07	0.03	0.32	0.63	(0.58)	1.10	(1.37)	4.65
IHTA	0.23	0.05	(0.05)	(0.65)	0.25	(0.31)	0.68	(0.27)	2.03
MVF	0.57	0.00	(0.08)	0.07	0.64	(0.67)	1.11	(1.10)	3.94
IHIT	0.46	(0.05)	0.00	(3.26)	0.00	0.00	1.07	(1.18)	2.70
KTF	0.42	(0.02)	(0.13)	(0.05)	0.52	(0.50)	0.97	(0.94)	2.84

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