Tortoise Energy Correlations

TYG Stock

USD 42.84 1.27 2.88%

The current 90-days correlation between Tortoise Energy Infr and Fidus Investment Corp is 0.04 (i.e., Significant diversification). The correlation of Tortoise Energy 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.

Tortoise Energy Correlation With Market

Significant diversification

The correlation between Tortoise Energy Infrastructure and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Energy Infrastructure and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tortoise Stock

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

Moving together with Tortoise Stock

0.81

HNNA

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Pair Corr

Moving against Tortoise Stock

0.39	DMYY	dMY Squared Technology	Pair Corr
0.58	OPFI	OppFi Inc	Pair Corr
0.41	BTCS	BTCS Inc	Pair Corr

Related Correlations Analysis

	FDUS	SLRC	NCDL	ECC	VINP	MSIF	PFLT	EFSC	NXP	GAM
FDUS		-0.19	0.19	0.32	-0.32	-0.11	0.14	-0.01	0.08	-0.03	FDUS
SLRC	-0.19		0.15	0.22	0.73	0.42	0.61	0.54	-0.39	0.62	SLRC
NCDL	0.19	0.15		0.39	-0.37	0.11	-0.13	-0.05	0.58	-0.35	NCDL
ECC	0.32	0.22	0.39		-0.1	0.1	0.25	0.02	0.0	0.15	ECC
VINP	-0.32	0.73	-0.37	-0.1		0.42	0.7	0.67	-0.68	0.78	VINP
MSIF	-0.11	0.42	0.11	0.1	0.42		0.43	0.59	-0.17	0.5	MSIF
PFLT	0.14	0.61	-0.13	0.25	0.7	0.43		0.62	-0.54	0.89	PFLT
EFSC	-0.01	0.54	-0.05	0.02	0.67	0.59	0.62		-0.45	0.64	EFSC
NXP	0.08	-0.39	0.58	0.0	-0.68	-0.17	-0.54	-0.45		-0.64	NXP
GAM	-0.03	0.62	-0.35	0.15	0.78	0.5	0.89	0.64	-0.64		GAM
	FDUS	SLRC	NCDL	ECC	VINP	MSIF	PFLT	EFSC	NXP	GAM

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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

GAM	+ 0.89	PFLT
GAM	+ 0.78	VINP
VINP	+ 0.73	SLRC
PFLT	+ 0.7	VINP
EFSC	+ 0.67	VINP
GAM	+ 0.64	EFSC

High negative correlations

NXP	- 0.68	VINP
GAM	- 0.64	NXP
NXP	- 0.54	PFLT
NXP	- 0.45	EFSC
NXP	- 0.39	SLRC
VINP	- 0.37	NCDL

Risk-Adjusted Indicators

There is a big difference between Tortoise Stock performing well and Tortoise Energy 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 Tortoise Energy'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
FDUS	0.85	(0.09)	0.00	(0.08)	0.00	0.00	1.94	(1.84)	5.94
SLRC	0.84	0.05	0.02	0.18	0.94	(0.97)	1.88	(1.73)	5.30
NCDL	1.02	(0.08)	0.00	(0.04)	0.00	0.00	2.17	(1.80)	6.20
ECC	1.30	0.01	(0.01)	0.08	1.52	(1.44)	2.49	(2.11)	10.10
VINP	1.03	0.19	0.12	0.45	0.98	(1.17)	2.68	(2.10)	5.36
MSIF	1.44	0.03	(0.01)	0.19	1.65	(1.64)	2.91	(2.89)	11.44
PFLT	0.77	0.11	0.09	0.25	0.71	(0.85)	1.95	(1.50)	4.17
EFSC	1.15	0.00	(0.01)	0.07	1.26	(1.38)	2.79	(1.83)	9.13
NXP	0.33	(0.06)	0.00	15.32	0.00	0.00	0.71	(0.76)	2.59
GAM	0.45	0.10	0.08	0.95	0.32	(0.51)	1.04	(0.83)	2.57

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