Turtle Beach Correlations

HEAR Stock

USD 16.91 0.21 1.26%

The current 90-days correlation between Turtle Beach Corp and VOXX International is 0.04 (i.e., Significant diversification). The correlation of Turtle Beach 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.

Turtle Beach Correlation With Market

Very weak diversification

The correlation between Turtle Beach Corp and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turtle Beach Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Turtle Beach Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Turtle Stock

0.66	RL	Ralph Lauren Corp	Pair Corr
0.68	DOGZ	Dogness International Upward Rally	Pair Corr
0.68	REE	Ree Automotive Holding Earnings Call Today	Pair Corr
0.62	UAA	Under Armour A Aggressive Push	Pair Corr

Moving against Turtle Stock

0.52	SKX	Skechers USA	Pair Corr
0.5	DOOO	BRP Inc Earnings Call Today	Pair Corr
0.43	CRI	Carters	Pair Corr
0.31	DHI	DR Horton	Pair Corr
0.7	LIVE	Live Ventures Fiscal Year End 18th of December 2024	Pair Corr
0.6	GV	Visionary Education	Pair Corr
0.5	JXJT	JX Luxventure Limited	Pair Corr
0.44	LEVI	Levi Strauss Fiscal Year End 23rd of January 2025	Pair Corr
0.37	RCKY	Rocky Brands	Pair Corr
0.31	LANV	Lanvin Group Holdings	Pair Corr

Related Correlations Analysis

	VOXX	LPL	VZIO	MSN	UEIC	SSNLF	SONY	XIACY	SONO	VUZI
VOXX		-0.52	0.13	0.33	-0.01	0.73	-0.48	0.68	0.56	0.64	VOXX
LPL	-0.52		-0.11	0.23	-0.59	-0.62	0.16	-0.77	-0.64	-0.37	LPL
VZIO	0.13	-0.11		-0.11	0.21	0.2	0.28	0.19	0.17	0.24	VZIO
MSN	0.33	0.23	-0.11		-0.55	0.31	-0.35	0.15	0.08	0.03	MSN
UEIC	-0.01	-0.59	0.21	-0.55		0.16	0.49	0.49	0.5	0.17	UEIC
SSNLF	0.73	-0.62	0.2	0.31	0.16		-0.22	0.86	0.53	0.57	SSNLF
SONY	-0.48	0.16	0.28	-0.35	0.49	-0.22		-0.11	-0.11	-0.01	SONY
XIACY	0.68	-0.77	0.19	0.15	0.49	0.86	-0.11		0.76	0.5	XIACY
SONO	0.56	-0.64	0.17	0.08	0.5	0.53	-0.11	0.76		0.35	SONO
VUZI	0.64	-0.37	0.24	0.03	0.17	0.57	-0.01	0.5	0.35		VUZI
	VOXX	LPL	VZIO	MSN	UEIC	SSNLF	SONY	XIACY	SONO	VUZI

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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

XIACY	+ 0.86	SSNLF
SONO	+ 0.76	XIACY
SSNLF	+ 0.73	VOXX
XIACY	+ 0.68	VOXX
VUZI	+ 0.64	VOXX
VUZI	+ 0.57	SSNLF

High negative correlations

XIACY	- 0.77	LPL
SONO	- 0.64	LPL
SSNLF	- 0.62	LPL
UEIC	- 0.59	LPL
UEIC	- 0.55	MSN
LPL	- 0.52	VOXX

Risk-Adjusted Indicators

There is a big difference between Turtle Stock performing well and Turtle Beach 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 Turtle Beach'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
VOXX	4.54	2.01	0.66	(1.20)	1.81	(6.61)	12.73	(4.56)	74.27
LPL	1.74	(0.34)	0.00	(0.34)	0.00	0.00	2.49	(3.74)	11.29
VZIO	0.36	0.00	(0.25)	0.12	0.40	(0.39)	0.90	(0.62)	2.34
MSN	2.37	(0.13)	0.00	(0.19)	0.00	0.00	6.00	(5.88)	17.16
UEIC	2.77	0.40	0.11	0.86	2.77	(3.21)	4.75	(4.88)	34.96
SSNLF	0.02	0.00	0.00	(0.02)	0.00	0.00	0.00	0.00	0.67
SONY	1.23	(0.03)	(0.04)	0.07	1.57	(1.33)	2.76	(2.53)	12.94
XIACY	2.33	0.70	0.17	(0.88)	2.53	(2.71)	6.38	(4.95)	17.84
SONO	2.08	0.05	0.03	0.16	2.44	(2.16)	4.04	(3.91)	11.24
VUZI	5.25	1.44	0.26	1.98	4.35	(7.00)	16.07	(6.80)	26.32

Turtle Beach Corporate Management

Jose Rosado	Senior Operations	Profile
Cristopher Keirn	Interim Sales	Profile
Ryan Dell	Senior Marketing	Profile
MacLean Marshall	Director PRCommunications	Profile
Megan Wynne	General Counsel	Profile
Matt Seymour	Senior Management	Profile

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