Alithya Group Correlations

ALYA Stock

CAD 1.36 0.03 2.16%

The current 90-days correlation between Alithya Group inc and WonderFi Technologies is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alithya Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alithya Group inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alithya Group Correlation With Market

Very good diversification

The correlation between Alithya Group inc and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alithya Group inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Alithya 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 Alithya 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 Alithya 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 Alithya Group inc to buy it.

Moving together with Alithya Stock

0.67	AMZN	Amazon CDR	Pair Corr
0.67	AMZN	Amazon CDR	Pair Corr

Moving against Alithya Stock

0.7	DE	Decisive Dividend Corp	Pair Corr
0.67	AQN-PD	Algonquin Power Utilities	Pair Corr
0.64	GIG	XAU Resources Earnings Call Tomorrow	Pair Corr
0.62	LNR	Linamar Earnings Call This Week	Pair Corr
0.52	WMT	Walmart Inc CDR	Pair Corr
0.52	BTO	B2Gold Corp	Pair Corr
0.51	BN-PFI	Brookfield	Pair Corr
0.44	MU	Micron Technology	Pair Corr
0.42	MFC-PP	Manulife Financial Corp	Pair Corr
0.41	CBR	Cabral Gold	Pair Corr
0.4	CJT	Cargojet	Pair Corr
0.33	IFA	iFabric Corp	Pair Corr
0.91	GQ	Great Quest Fertilizer Split	Pair Corr
0.65	MCDS	McDonalds Corp CDR	Pair Corr
0.65	TOT	Total Energy Services	Pair Corr
0.62	PML	Panoro Minerals	Pair Corr
0.59	BPF-UN	Boston Pizza Royalties	Pair Corr
0.56	TF	Timbercreek Financial Earnings Call Today	Pair Corr
0.56	GUG	Gungnir Resources	Pair Corr
0.55	OBE	Obsidian Energy	Pair Corr
0.52	BN-PC	Brookfield	Pair Corr
0.51	HLF	High Liner Foods Earnings Call Today	Pair Corr

Related Correlations Analysis

	WNDR	IMP	SYZ	THNC	XTRA	HAI	QTRH	PVT
WNDR		-0.76	-0.27	0.46	-0.35	0.52	0.33	0.77	WNDR
IMP	-0.76		0.42	-0.78	0.4	-0.69	-0.23	-0.78	IMP
SYZ	-0.27	0.42		-0.38	0.88	-0.87	-0.22	-0.01	SYZ
THNC	0.46	-0.78	-0.38		-0.36	0.55	0.07	0.53	THNC
XTRA	-0.35	0.4	0.88	-0.36		-0.83	-0.16	-0.01	XTRA
HAI	0.52	-0.69	-0.87	0.55	-0.83		0.36	0.29	HAI
QTRH	0.33	-0.23	-0.22	0.07	-0.16	0.36		0.14	QTRH
PVT	0.77	-0.78	-0.01	0.53	-0.01	0.29	0.14		PVT
	WNDR	IMP	SYZ	THNC	XTRA	HAI	QTRH	PVT

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

XTRA	+ 0.88	SYZ
PVT	+ 0.77	WNDR
HAI	+ 0.55	THNC
PVT	+ 0.53	THNC
HAI	+ 0.52	WNDR
THNC	+ 0.46	WNDR

High negative correlations

HAI	- 0.87	SYZ
HAI	- 0.83	XTRA
PVT	- 0.78	IMP
THNC	- 0.78	IMP
IMP	- 0.76	WNDR
HAI	- 0.69	IMP

Risk-Adjusted Indicators

There is a big difference between Alithya Stock performing well and Alithya 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 Alithya 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
WNDR	1.67	0.31	0.03	(0.28)	1.87	(3.69)	3.57	(3.70)	14.14
IMP	2.69	(0.90)	0.00	(0.30)	0.00	0.00	4.24	(5.76)	19.83
SYZ	2.14	(0.49)	0.00	(0.41)	0.00	0.00	3.72	(5.20)	18.71
THNC	2.12	0.09	0.01	0.38	2.26	(2.63)	5.17	(3.78)	12.10
XTRA	2.86	(0.36)	0.00	(0.40)	0.00	0.00	5.97	(5.97)	19.86
HAI	2.17	1.04	0.49	2.61	1.19	(2.81)	6.87	(2.78)	18.24
QTRH	1.68	(0.04)	(0.02)	0.05	2.26	(2.27)	4.49	(4.04)	15.35
PVT	1.35	0.14	0.02	2.24	1.61	(2.02)	3.68	(3.23)	10.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alithya 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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