BCE Correlations
| BCE Stock | CAD 33.50 0.66 2.01% |
The current 90-days correlation between BCE Inc and Telus Corp is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BCE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BCE Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
BCE Correlation With Market
Average diversification
The correlation between BCE Inc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BCE Inc and DJI in the same portfolio, assuming nothing else is changed.
BCE |
The ability to find closely correlated positions to BCE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BCE 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 BCE - 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 BCE Inc to buy it.
Moving together with BCE Stock
Moving against BCE Stock
| 0.9 | WNDR | WonderFi Technologies | PairCorr |
| 0.88 | WELL | WELL Health Technologies | PairCorr |
| 0.83 | ENB | Enbridge | PairCorr |
| 0.83 | AIDX | HealWELL AI | PairCorr |
| 0.79 | CM | Canadian Imperial Bank | PairCorr |
| 0.79 | SBBC | Simply Better Brands | PairCorr |
| 0.79 | PBY-UN | Canso Credit Trust | PairCorr |
| 0.77 | MOLY | Greenland Resources | PairCorr |
| 0.76 | LB | Laurentian Bank | PairCorr |
| 0.74 | CRM | SalesforceCom CDR | PairCorr |
| 0.71 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.69 | RKV | Rakovina Therapeutics | PairCorr |
| 0.66 | ARE | Aecon Group | PairCorr |
| 0.65 | MFC | Manulife Financial Corp | PairCorr |
| 0.63 | BNS | Bank of Nova Scotia | PairCorr |
| 0.61 | ENA | Enablence Technologies | PairCorr |
| 0.59 | CVO | Coveo Solutions | PairCorr |
| 0.57 | AC | Air Canada | PairCorr |
| 0.57 | MAXQ | Maritime Launch Services | PairCorr |
| 0.54 | TRP | TC Energy Corp | PairCorr |
| 0.47 | BLM | BluMetric Environmental | PairCorr |
| 0.41 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.4 | HOT-U | American Hotel Income | PairCorr |
| 0.89 | NA-PW | National Bank | PairCorr |
| 0.88 | OLY | Olympia Financial | PairCorr |
| 0.87 | KUT | Redishred Capital Corp | PairCorr |
| 0.87 | DBO | D Box Technologies | PairCorr |
| 0.87 | TCS | TECSYS Inc | PairCorr |
| 0.83 | IAG | iA Financial | PairCorr |
| 0.82 | FFH-PK | Fairfax Financial | PairCorr |
| 0.81 | MARI | Marimaca Copper Corp | PairCorr |
| 0.79 | LMN | Lumine Group | PairCorr |
| 0.78 | NURS | Hydreight Technologies | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between BCE Stock performing well and BCE 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 BCE'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| T | 0.82 | (0.11) | 0.00 | (4.79) | 0.00 | 1.80 | 6.23 | |||
| ENB | 0.64 | 0.20 | 0.25 | 0.66 | 0.40 | 1.69 | 3.60 | |||
| BNS | 0.60 | 0.03 | 0.01 | 0.37 | 0.93 | 1.23 | 5.33 | |||
| TD | 0.74 | 0.11 | 0.07 | 0.35 | 1.32 | 1.65 | 9.27 | |||
| RY | 0.51 | 0.02 | 0.01 | 0.10 | 0.69 | 1.08 | 4.91 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in BCE 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.Did you try this?
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