Boralex Correlations

B3H Stock

EUR 16.80 0.46 2.82%

The current 90-days correlation between Boralex and Wheaton Precious Metals is 0.19 (i.e., Average diversification). The correlation of Boralex 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.

Boralex Correlation With Market

Poor diversification

The correlation between Boralex and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boralex and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Boralex Stock

0.8	SII	Wheaton Precious Metals	Pair Corr
0.62	IUA	ASTRA GRAPHIA	Pair Corr
0.68	ECK	LUDWIG BECK	Pair Corr
0.75	TGR	YUM BRANDS	Pair Corr
0.8	ODF	Old Dominion Freight	Pair Corr
0.76	G7A	Grupo Aeroportuario del	Pair Corr
0.62	DYF1	Dynavax Technologies	Pair Corr
0.65	FUCA	FANUC PUNSPADR 110	Pair Corr
0.8	P7T	PT Bank Pembangunan	Pair Corr
0.82	TQI	TELECOM ITALIA	Pair Corr
0.65	IXD2	INDDDTEXTUNSPADR	Pair Corr
0.7	V1L	Valero Energy	Pair Corr
0.62	REPA	Repsol SA	Pair Corr
0.75	FPP0	ALTYNGOLD PLC LS	Pair Corr
0.83	WHX	APRANGA AB EO Earnings Call Tomorrow	Pair Corr
0.77	GWW	WW Grainger	Pair Corr
0.75	1WT	WisdomTree Investments	Pair Corr
0.61	RE3	Richardson Electronics	Pair Corr
0.65	R6N	Retail Estates NV	Pair Corr
0.71	RGPB	Reinsurance Group	Pair Corr
0.77	NOEJ	Norma Group AG	Pair Corr
0.67	TOTB	TotalEnergies SE	Pair Corr
0.79	KU1	Kulicke and Soffa	Pair Corr
0.69	CW2	Consolidated Water	Pair Corr
0.75	HSY	Hershey	Pair Corr
0.74	EMD	ENM Holdings Limited	Pair Corr

Moving against Boralex Stock

0.86	BNB	BAYAN RESOURCES Earnings Call Tomorrow	Pair Corr
0.78	BNB	BAYAN RESOURCES Earnings Call This Week	Pair Corr
0.49	3IB	INDO TAMBANGRAYA	Pair Corr
0.45	06L	PT Global Mediacom	Pair Corr

Related Correlations Analysis

	SII	OSG	GPE	QDI	MN4	AMG	41B	GSR	LOM	OSW
SII		0.88	0.79	0.35	0.75	0.55	0.64	0.85	0.93	0.83	SII
OSG	0.88		0.5	0.65	0.59	0.76	0.69	0.87	0.94	0.63	OSG
GPE	0.79	0.5		-0.15	0.78	0.13	0.37	0.64	0.63	0.82	GPE
QDI	0.35	0.65	-0.15		-0.12	0.79	0.39	0.31	0.49	-0.03	QDI
MN4	0.75	0.59	0.78	-0.12		0.1	0.42	0.76	0.66	0.91	MN4
AMG	0.55	0.76	0.13	0.79	0.1		0.5	0.54	0.7	0.27	AMG
41B	0.64	0.69	0.37	0.39	0.42	0.5		0.62	0.68	0.52	41B
GSR	0.85	0.87	0.64	0.31	0.76	0.54	0.62		0.87	0.75	GSR
LOM	0.93	0.94	0.63	0.49	0.66	0.7	0.68	0.87		0.77	LOM
OSW	0.83	0.63	0.82	-0.03	0.91	0.27	0.52	0.75	0.77		OSW
	SII	OSG	GPE	QDI	MN4	AMG	41B	GSR	LOM	OSW

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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

LOM	+ 0.94	OSG
LOM	+ 0.93	SII
OSW	+ 0.91	MN4
OSG	+ 0.88	SII
GSR	+ 0.87	OSG
LOM	+ 0.87	GSR

High negative correlations

QDI	- 0.15	GPE
MN4	- 0.12	QDI
OSW	- 0.03	QDI

Risk-Adjusted Indicators

There is a big difference between Boralex Stock performing well and Boralex 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 Boralex'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
SII	1.98	0.64	0.19	(6.04)	2.25	(2.09)	4.09	(3.88)	15.45
OSG	1.12	0.40	0.23	1.36	0.80	(1.55)	2.52	(1.63)	8.41
GPE	6.78	1.28	0.14	1.89	6.52	(9.65)	22.22	(12.00)	49.75
QDI	0.93	0.16	0.05	(0.58)	0.71	(1.95)	2.86	(1.86)	6.98
MN4	2.26	1.11	0.25	(4.97)	0.71	(5.49)	7.69	(2.33)	16.53
AMG	1.13	0.17	0.05	(1.82)	1.07	(1.22)	2.85	(1.92)	7.70
41B	1.51	0.15	0.02	(0.60)	1.55	(1.99)	4.05	(2.65)	9.10
GSR	1.16	0.53	0.00	1.15	0.00	0.00	5.26	0.00	21.25
LOM	1.23	0.54	0.30	(1.27)	0.90	(1.41)	3.30	(1.71)	7.59
OSW	1.49	0.89	0.00	(19.73)	0.00	0.00	5.71	0.00	13.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Boralex 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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Boralex Corporate Management

Elected by the shareholders, the Boralex's board of directors comprises two types of representatives: Boralex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Boralex. The board's role is to monitor Boralex's management team and ensure that shareholders' interests are well served. Boralex's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Boralex's outside directors are responsible for providing unbiased perspectives on the board's policies.

MarieJose Arsenault	Executive Officer	Profile
Nicolas Wolff	Ex Europe	Profile
Rabindra Mishra	Deputy Europe	Profile
Hugues Girardin	Ex America	Profile
Adam Rosso	Senior America	Profile
Isabelle Fontaine	Sr Communications	Profile
Julie Cusson	Senior Projects	Profile

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