Turning Point Correlations

TPB Stock

USD 61.90 0.49 0.80%

The current 90-days correlation between Turning Point Brands and Universal is 0.37 (i.e., Weak diversification). The correlation of Turning Point 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.

Turning Point Correlation With Market

Modest diversification

The correlation between Turning Point Brands and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Turning Point Brands 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 Turning Point Brands. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Turning Stock

0.8	MO	Altria Group	Pair Corr
0.67	PM	Philip Morris Intern	Pair Corr
0.9	FDP	Fresh Del Monte	Pair Corr
0.87	LSF	Laird Superfood	Pair Corr
0.88	SAM	Boston Beer	Pair Corr
0.88	TAP	Molson Coors Brewing	Pair Corr
0.78	UVV	Universal	Pair Corr
0.76	CALM	Cal Maine Foods	Pair Corr
0.78	BJ	BJs Wholesale Club	Pair Corr

Moving against Turning Stock

0.95	FMX	Fomento Economico	Pair Corr
0.9	GIS	General Mills	Pair Corr
0.88	BUD	Anheuser Busch Inbev	Pair Corr
0.82	ADM	Archer Daniels Midland	Pair Corr
0.81	OTLY	Oatly Group AB	Pair Corr
0.71	XXII	22nd Century Group	Pair Corr
0.7	LND	Brasilagro Adr	Pair Corr
0.67	BG	Bunge Limited	Pair Corr
0.58	DOLE	Dole PLC	Pair Corr
0.52	ISPR	Ispire Technology Common	Pair Corr
0.49	STZ	Constellation Brands	Pair Corr
0.9	KO	Coca Cola Aggressive Push	Pair Corr
0.89	UG	United Guardian	Pair Corr
0.89	UL	Unilever PLC ADR	Pair Corr
0.81	BYND	Beyond Meat	Pair Corr
0.81	DTCK	Davis Commodities	Pair Corr
0.78	EL	Estee Lauder Companies	Pair Corr
0.76	CL	Colgate Palmolive Sell-off Trend	Pair Corr
0.74	ABEV	Ambev SA ADR	Pair Corr
0.73	FC	Franklin Covey	Pair Corr
0.67	BTOG	Bit Origin	Pair Corr
0.62	SNAX	Stryve Foods	Pair Corr

Related Correlations Analysis

	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO
UVV		0.67	0.39	0.4	0.17	-0.31	0.49	-0.02	0.34	0.86	UVV
IMBBY	0.67		0.13	0.69	0.62	-0.59	0.87	-0.27	0.15	0.75	IMBBY
BTI	0.39	0.13		-0.03	-0.58	0.43	-0.03	0.49	0.87	0.41	BTI
PM	0.4	0.69	-0.03		0.5	-0.73	0.6	-0.65	-0.06	0.62	PM
VGR	0.17	0.62	-0.58	0.5		-0.76	0.63	-0.47	-0.44	0.23	VGR
JAPAY	-0.31	-0.59	0.43	-0.73	-0.76		-0.52	0.68	0.43	-0.46	JAPAY
IMBBF	0.49	0.87	-0.03	0.6	0.63	-0.52		-0.3	0.08	0.53	IMBBF
JAPAF	-0.02	-0.27	0.49	-0.65	-0.47	0.68	-0.3		0.52	-0.26	JAPAF
BTAFF	0.34	0.15	0.87	-0.06	-0.44	0.43	0.08	0.52		0.31	BTAFF
MO	0.86	0.75	0.41	0.62	0.23	-0.46	0.53	-0.26	0.31		MO
	UVV	IMBBY	BTI	PM	VGR	JAPAY	IMBBF	JAPAF	BTAFF	MO

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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

IMBBF	+ 0.87	IMBBY
BTAFF	+ 0.87	BTI
MO	+ 0.86	UVV
MO	+ 0.75	IMBBY
PM	+ 0.69	IMBBY
JAPAF	+ 0.68	JAPAY

High negative correlations

JAPAY	- 0.76	VGR
JAPAY	- 0.73	PM
JAPAF	- 0.65	PM
JAPAY	- 0.59	IMBBY
VGR	- 0.58	BTI
IMBBF	- 0.52	JAPAY

Risk-Adjusted Indicators

There is a big difference between Turning Stock performing well and Turning Point 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 Turning Point'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
UVV	1.10	(0.01)	(0.03)	0.12	1.07	(1.31)	2.49	(1.91)	5.89
IMBBY	0.88	0.21	0.11	1.15	0.72	(1.09)	2.49	(1.43)	7.87
BTI	0.73	0.04	(0.06)	0.57	1.02	(0.76)	1.28	(1.32)	4.59
PM	1.01	0.20	0.01	(0.36)	1.30	(1.08)	1.99	(1.84)	15.67
VGR	1.05	0.56	0.58	(6.32)	0.00	(1.32)	3.38	(0.96)	8.71
JAPAY	0.82	(0.07)	0.00	(0.24)	0.00	0.00	1.80	(1.55)	5.09
IMBBF	2.24	0.32	0.06	(1.28)	2.33	(2.67)	5.01	(4.66)	11.56
JAPAF	1.03	(0.05)	(0.02)	0.05	1.58	(6.86)	5.38	(4.20)	16.65
BTAFF	1.94	0.06	0.00	0.23	2.41	(2.09)	5.06	(4.19)	12.08
MO	0.77	0.15	0.02	(5.18)	0.69	(0.81)	1.48	(1.21)	9.22

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