Tenneco Automotive Correlations

TEN
 Stock
  

USD 19.99  0.00  0.00%   

The correlation of Tenneco Automotive is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tenneco Automotive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tenneco Automotive moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, take a look at World Market Map.
  
The ability to find closely correlated positions to Tenneco Automotive could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tenneco Automotive 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 Tenneco Automotive - 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 Tenneco Automotive to buy it.

Moving together with Tenneco Automotive

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+0.7LEALear CorpPairCorr
+0.72VCVisteon CorpPairCorr
+0.65ANAutonationPairCorr

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
ORLYAZO
AZOAAP
ORLYAAP
  

Tenneco Automotive Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Tenneco Stock performing well and Tenneco Automotive company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Tenneco Automotive's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Tenneco Automotive Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Tenneco Automotive stock to make a market-neutral strategy. Peer analysis of Tenneco Automotive could also be used in its relative valuation, which is a method of valuing Tenneco Automotive by comparing valuation metrics with similar companies.
Advance Auto PartsAutozoneOReilly AutomotiveAmerican AirlinesAlcoa CorpApple IncBest BuyCitigroupSentinelone IncCVS CorpChevron CorpHome DepotInternational BusinessIntel CorpMetlife
 Risk & Return  Correlation

Tenneco Automotive Corporate Directors

Tenneco Automotive corporate directors refer to members of a Tenneco Automotive board of directors. The board of directors generally takes responsibility for the Tenneco Automotive's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Tenneco Automotive's board members must vote for the resolution. The Tenneco Automotive board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Charles Stevens - Independent DirectorProfile
Keith Cozza - Independent DirectorProfile
Linae Golla - Executive Director, Investor RelationsProfile
Roger Porter - Independent DirectorProfile

Invested in Tenneco Automotive?

The danger of trading Tenneco Automotive is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Tenneco Automotive is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Tenneco Automotive. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Tenneco Automotive is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, take a look at World Market Map. Note that the Tenneco Automotive information on this page should be used as a complementary analysis to other Tenneco Automotive's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .

Complementary Tools for Tenneco Stock analysis

When running Tenneco Automotive price analysis, check to measure Tenneco Automotive's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Tenneco Automotive is operating at the current time. Most of Tenneco Automotive's value examination focuses on studying past and present price action to predict the probability of Tenneco Automotive's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Tenneco Automotive's price. Additionally, you may evaluate how the addition of Tenneco Automotive to your portfolios can decrease your overall portfolio volatility.
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Is Tenneco Automotive's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Tenneco Automotive. If investors know Tenneco will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Tenneco Automotive listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.22) 
Market Capitalization
1.7 B
Quarterly Revenue Growth YOY
0.14
Return On Assets
0.0203
Return On Equity
(2.86) 
The market value of Tenneco Automotive is measured differently than its book value, which is the value of Tenneco that is recorded on the company's balance sheet. Investors also form their own opinion of Tenneco Automotive's value that differs from its market value or its book value, called intrinsic value, which is Tenneco Automotive's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Tenneco Automotive's market value can be influenced by many factors that don't directly affect Tenneco Automotive's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Tenneco Automotive's value and its price as these two are different measures arrived at by different means. Investors typically determine Tenneco Automotive value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tenneco Automotive's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.