Altus Group Correlations

AIF Stock

CAD 46.71 0.56 1.21%

The current 90-days correlation between Altus Group Limited and Allied Properties Real is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Altus Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Altus Group Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Altus Group Correlation With Market

Excellent diversification

The correlation between Altus Group Limited and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Altus Group Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Altus Stock

0.91	MCM-A	Matachewan Consolidated Split	Pair Corr
0.65	MKZ-UN	Mackenzie Mstr Un	Pair Corr

Moving against Altus Stock

0.87	NAR	North Arrow Minerals	Pair Corr
0.85	NIM	Nicola Mining	Pair Corr
0.84	MDM	Madoro Metals Corp	Pair Corr
0.83	GUG	Gungnir Resources	Pair Corr
0.81	ESP	Brompton Energy Split	Pair Corr
0.81	HLF	High Liner Foods	Pair Corr
0.79	BN-PC	Brookfield	Pair Corr
0.78	CJT	Cargojet	Pair Corr
0.77	DE	Decisive Dividend Corp	Pair Corr
0.75	ATX	ATEX Resources	Pair Corr
0.74	LNR	Linamar Earnings Call This Week	Pair Corr
0.73	PESO	Pesorama	Pair Corr
0.72	OYL	CGX Energy	Pair Corr
0.66	LCX	Lycos Energy	Pair Corr
0.66	BN-PFI	Brookfield	Pair Corr
0.61	PML	Panoro Minerals	Pair Corr
0.6	SLF-PJ	Sun Life Financial	Pair Corr
0.51	IVN	Ivanhoe Mines	Pair Corr
0.51	FTEC	Fintech Select	Pair Corr
0.49	LFE	Canadian Life Companies	Pair Corr
0.33	GMG	Graphene Manufacturing	Pair Corr
0.31	QNC	Quantum eMotion Corp	Pair Corr
0.84	TOT	Total Energy Services	Pair Corr
0.79	RTG	RTG Mining	Pair Corr
0.78	MU	Micron Technology	Pair Corr
0.77	NSE	New Stratus Energy	Pair Corr
0.75	BPF-UN	Boston Pizza Royalties	Pair Corr
0.71	TF	Timbercreek Financial	Pair Corr
0.7	BTO	B2Gold Corp	Pair Corr
0.7	GKO	Geekco Technologies Corp	Pair Corr
0.66	IFA	iFabric Corp	Pair Corr
0.66	PGDC	Patagonia Gold Corp	Pair Corr
0.64	FFU	F4 Uranium Corp	Pair Corr

Related Correlations Analysis

	AP-UN	MEQ	SVI	KMP-UN	AX-UN	HR-UN	CRR-UN	IIP-UN	MRC	BEI-UN
AP-UN		-0.2	0.25	0.2	0.07	0.16	-0.42	-0.31	0.6	0.1	AP-UN
MEQ	-0.2		-0.35	-0.79	-0.75	-0.68	-0.46	-0.59	-0.48	-0.74	MEQ
SVI	0.25	-0.35		0.63	0.26	0.59	0.45	0.5	0.66	0.58	SVI
KMP-UN	0.2	-0.79	0.63		0.77	0.92	0.69	0.81	0.7	0.94	KMP-UN
AX-UN	0.07	-0.75	0.26	0.77		0.72	0.67	0.75	0.52	0.79	AX-UN
HR-UN	0.16	-0.68	0.59	0.92	0.72		0.74	0.77	0.68	0.94	HR-UN
CRR-UN	-0.42	-0.46	0.45	0.69	0.67	0.74		0.91	0.3	0.77	CRR-UN
IIP-UN	-0.31	-0.59	0.5	0.81	0.75	0.77	0.91		0.44	0.83	IIP-UN
MRC	0.6	-0.48	0.66	0.7	0.52	0.68	0.3	0.44		0.67	MRC
BEI-UN	0.1	-0.74	0.58	0.94	0.79	0.94	0.77	0.83	0.67		BEI-UN
	AP-UN	MEQ	SVI	KMP-UN	AX-UN	HR-UN	CRR-UN	IIP-UN	MRC	BEI-UN

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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

BEI-UN	+ 0.94	KMP-UN
BEI-UN	+ 0.94	HR-UN
HR-UN	+ 0.92	KMP-UN
IIP-UN	+ 0.91	CRR-UN
BEI-UN	+ 0.83	IIP-UN
IIP-UN	+ 0.81	KMP-UN

High negative correlations

KMP-UN	- 0.79	MEQ
AX-UN	- 0.75	MEQ
BEI-UN	- 0.74	MEQ
HR-UN	- 0.68	MEQ
IIP-UN	- 0.59	MEQ
MRC	- 0.48	MEQ

Risk-Adjusted Indicators

There is a big difference between Altus Stock performing well and Altus Group 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 Altus Group'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
AP-UN	1.72	(0.44)	0.00	(0.68)	0.00	0.00	3.14	(2.19)	30.98
MEQ	0.71	0.04	(0.04)	0.53	0.70	(0.90)	1.47	(1.59)	3.60
SVI	1.28	0.03	(0.02)	0.24	1.48	(1.43)	2.80	(2.62)	6.55
KMP-UN	0.67	0.02	(0.04)	0.18	0.89	(0.75)	1.24	(1.05)	8.47
AX-UN	2.08	0.53	0.14	(122.42)	2.57	(2.25)	5.67	(5.50)	20.87
HR-UN	0.81	0.03	(0.02)	0.16	0.93	(0.91)	1.61	(1.49)	5.49
CRR-UN	0.69	0.13	0.05	(2.81)	0.67	(0.78)	1.54	(1.23)	3.62
IIP-UN	0.13	0.02	(0.37)	(8.78)	0.00	(0.18)	0.31	(0.22)	0.83
MRC	0.44	(0.01)	(0.11)	0.03	0.55	(0.54)	1.24	(1.17)	2.94
BEI-UN	0.89	0.06	0.01	0.25	1.02	(0.92)	1.90	(1.80)	4.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in Altus Group without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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