ATCO Correlations

ACLTF Stock

USD 48.40 0.00 0.00%

The current 90-days correlation between ATCO and Canadian Utilities Limited is -0.02 (i.e., Good diversification). The correlation of ATCO 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.

ATCO Correlation With Market

Modest diversification

The correlation between ATCO and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ATCO and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ATCO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ATCO 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 ATCO - 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 ATCO to buy it.

Moving together with ATCO Pink Sheet

0.88	IBDSF	Iberdrola SA	Pair Corr
0.89	IBDRY	Iberdrola SA	Pair Corr
0.81	ESOCF	Enel SpA	Pair Corr
0.76	ENLAY	ENEL Societa per	Pair Corr
0.91	ENGQF	Engie SA	Pair Corr
0.77	GSTX	Graphene Solar Techn	Pair Corr
0.93	IRNRF	Iron Road Limited	Pair Corr
0.87	PZCUY	PZ Cussons PLC	Pair Corr
0.89	CHDN	Churchill Downs	Pair Corr
0.88	AAPL	Apple Inc	Pair Corr
0.94	SMTGF	SMA Solar Technology	Pair Corr
0.78	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.75	GBNY	Generations Bancorp	Pair Corr
0.84	PYPD	PolyPid	Pair Corr
0.66	ITRG	Integra Resources Corp	Pair Corr

Moving against ATCO Pink Sheet

0.78	CHHE	China Health Industries	Pair Corr
0.76	PVSP	Pervasip Corp	Pair Corr
0.49	EPGG	Empire Global Gaming	Pair Corr
0.4	SIDU	Sidus Space Buyout Trend	Pair Corr
0.33	PPWLM	PacifiCorp	Pair Corr
0.63	FGPHF	First Graphene	Pair Corr
0.49	FEERF	Freeport Resources Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CDUTF	CUTLF	CDUAF	CNUTF	COENF	IRDEF	IRDEY	TEPCF	CNAUF	KYSEF
CDUTF		0.59	0.64	0.37	0.83	-0.49	0.0	0.17	0.57	0.76	CDUTF
CUTLF	0.59		0.93	0.56	0.51	-0.3	0.0	0.29	0.96	0.47	CUTLF
CDUAF	0.64	0.93		0.66	0.57	-0.4	0.0	0.38	0.91	0.46	CDUAF
CNUTF	0.37	0.56	0.66		0.33	-0.24	0.0	0.66	0.56	0.32	CNUTF
COENF	0.83	0.51	0.57	0.33		-0.61	0.0	0.15	0.49	0.58	COENF
IRDEF	-0.49	-0.3	-0.4	-0.24	-0.61		0.0	-0.09	-0.29	-0.04	IRDEF
IRDEY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IRDEY
TEPCF	0.17	0.29	0.38	0.66	0.15	-0.09	0.0		0.29	0.24	TEPCF
CNAUF	0.57	0.96	0.91	0.56	0.49	-0.29	0.0	0.29		0.45	CNAUF
KYSEF	0.76	0.47	0.46	0.32	0.58	-0.04	0.0	0.24	0.45		KYSEF
	CDUTF	CUTLF	CDUAF	CNUTF	COENF	IRDEF	IRDEY	TEPCF	CNAUF	KYSEF

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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

CNAUF	+ 0.96	CUTLF
CDUAF	+ 0.93	CUTLF
CNAUF	+ 0.91	CDUAF
COENF	+ 0.83	CDUTF
KYSEF	+ 0.76	CDUTF
CNUTF	+ 0.66	CDUAF

High negative correlations

IRDEF	- 0.61	COENF
IRDEF	- 0.49	CDUTF
IRDEF	- 0.4	CDUAF
IRDEF	- 0.3	CUTLF
CNAUF	- 0.29	IRDEF
IRDEF	- 0.24	CNUTF

Risk-Adjusted Indicators

There is a big difference between ATCO Pink Sheet performing well and ATCO 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 ATCO'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
CDUTF	0.05	0.01	0.00	0.40	0.00	0.00	0.00	0.00	1.62
CUTLF	0.04	0.02	0.00	(0.30)	0.00	0.00	0.00	0.00	1.50
CDUAF	0.77	0.20	0.14	(1.51)	0.59	(0.97)	2.07	(1.47)	5.88
CNUTF	0.56	0.28	0.00	(2.62)	0.00	0.00	0.00	0.00	15.07
COENF	0.29	0.05	0.00	(0.73)	0.00	0.00	0.00	0.00	8.87
IRDEF	21.27	7.67	0.00	34.56	0.00	0.00	48.80	(17.81)	66.61
IRDEY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEPCF	4.76	(2.40)	0.00	6.05	0.00	0.00	0.00	0.00	159.36
CNAUF	0.07	0.01	0.00	0.33	0.00	0.00	0.00	0.00	2.25
KYSEF	0.81	0.14	0.00	(0.24)	0.00	0.00	1.70	(0.87)	29.28

ATCO 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 ATCO pink sheet to make a market-neutral strategy. Peer analysis of ATCO could also be used in its relative valuation, which is a method of valuing ATCO by comparing valuation metrics with similar companies.

Canadian Utilities Limited Canadian Utilities Limited Canadian Utilities Limited Canadian Utilities Limited Contact Energy Limited Iren SpA Iren SpA ADR Tohoku Electric Power Canadian Utilities Limited Kyushu Electric Power American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

ATCO Corporate Management

Jim Landon	Pres Frontec	Profile
Sarah Shortreed	Ex CTO	Profile
Adam Beattie	Pres Ltd	Profile
Kurt Kadatz	Sr Communications	Profile
Robert Myles	Exec Devel	Profile

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