Canadian Utilities Correlations
| CDUAF Stock | USD 34.62 0.22 0.63% |
The correlation of Canadian Utilities 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.
Canadian Utilities Correlation With Market
Poor diversification
The correlation between Canadian Utilities Limited and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Utilities Limited and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Canadian Utilities could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Utilities 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 Canadian Utilities - 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 Canadian Utilities Limited to buy it.
Moving together with Canadian OTC Stock
| 0.83 | SOJE | Southern Company | PairCorr |
| 0.91 | SOJC | Southern | PairCorr |
| 0.8 | CMSA | CMS Energy Corp | PairCorr |
| 0.9 | DTW | DTE Energy | PairCorr |
| 0.85 | CNL | Collective Mining | PairCorr |
| 0.75 | BKRKY | Bank Rakyat | PairCorr |
| 0.94 | KB | KB Financial Group | PairCorr |
| 0.92 | SHG | Shinhan Financial | PairCorr |
| 0.93 | WF | Woori Financial Group | PairCorr |
| 0.9 | RRX | Regal Beloit | PairCorr |
| 0.78 | MEEEF | Metal Energy Corp | PairCorr |
| 0.9 | CIG-C | Energy of Minas | PairCorr |
| 0.91 | JOE | St Joe Company | PairCorr |
| 0.76 | WEJTY | Webjet Limited | PairCorr |
| 0.85 | BNL | Broadstone Net Lease | PairCorr |
| 0.97 | KT | KT Corporation | PairCorr |
| 0.75 | XYIGY | Xinyi Glass Holdings | PairCorr |
| 0.79 | ACNE | Alice Consolidated Mines | PairCorr |
| 0.88 | FRPT | Freshpet Sell-off Trend | PairCorr |
| 0.84 | SJM | J M Earnings Call Today | PairCorr |
| 0.95 | JNJ | Johnson Johnson | PairCorr |
| 0.78 | INGR | Ingredion Incorporated | PairCorr |
| 0.88 | HAFN | Hafnia Limited | PairCorr |
| 0.83 | FHI | Federated Investors | PairCorr |
| 0.83 | AEMMY | A2A SpA ADR | PairCorr |
| 0.7 | STMZF | Scottish Mortgage | PairCorr |
| 0.91 | WLK | Westlake Chemical | PairCorr |
Moving against Canadian OTC Stock
| 0.92 | PBCRY | Bank Central Asia | PairCorr |
| 0.79 | PBCRF | PT Bank Central | PairCorr |
| 0.5 | POM | POMDOCTOR LIMITED | PairCorr |
Related Correlations Analysis
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 Canadian OTC Stock performing well and Canadian Utilities OTC Stock 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 Canadian Utilities' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACEJF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| COENF | 0.31 | 0.07 | 0.00 | (0.86) | 0.00 | 0.36 | 14.61 | |||
| ACLTF | 0.88 | 0.46 | 0.00 | 3.39 | 0.00 | 2.65 | 12.18 | |||
| CNUTF | 0.28 | 0.08 | 0.00 | (0.45) | 0.00 | 1.42 | 4.12 | |||
| CGASY | 0.23 | 0.09 | 0.00 | 0.55 | 0.00 | 0.00 | 7.64 | |||
| ACLLF | 0.69 | 0.35 | 0.37 | (1.75) | 0.00 | 1.90 | 3.30 | |||
| CRGGF | 0.51 | 0.20 | 0.00 | 1.03 | 0.00 | 0.00 | 19.35 | |||
| GGDVF | 0.14 | 0.01 | 0.00 | 0.17 | 0.00 | 0.00 | 4.76 | |||
| HKCVF | 0.71 | (0.35) | 0.00 | 1.09 | 0.00 | 0.00 | 23.88 | |||
| CPWIF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Canadian Utilities 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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Canadian Utilities Corporate Management
Elected by the shareholders, the Canadian Utilities' board of directors comprises two types of representatives: Canadian Utilities inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Canadian. The board's role is to monitor Canadian Utilities' management team and ensure that shareholders' interests are well served. Canadian Utilities' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Canadian Utilities' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Myles Dougan | Senior Manager - Investor Relations | Profile | |
| Sarah Shortreed | Ex CTO | Profile | |
| Kurt Kadatz | Communications Mang | Profile | |
| Robert Myles | Exec Devel | Profile |