Canaccord Genuity Correlations

CF Stock

CAD 10.58 0.33 3.22%

The current 90-days correlation between Canaccord Genuity and Athabasca Oil Corp is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canaccord Genuity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canaccord Genuity Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Canaccord Genuity Correlation With Market

Good diversification

The correlation between Canaccord Genuity Group and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canaccord Genuity Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Canaccord Stock

0.78	AMZN	Amazon CDR	Pair Corr
0.76	GOOG	Alphabet CDR	Pair Corr
0.86	WMT	Walmart Inc CDR	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.84	CHEV	CHEVRON CDR	Pair Corr
0.7	META	Meta Platforms CDR	Pair Corr
0.85	BOFA	Bank of America	Pair Corr
0.85	TD-PFI	Toronto Dominion Bank	Pair Corr

Moving against Canaccord Stock

0.65

PFE

Pfizer Inc CDR

Pair Corr

Related Correlations Analysis

	T	TD	MFC	CNQ	TRP	ATH	BNS	ENB	CM	RY
T		0.56	-0.27	-0.52	-0.32	-0.52	-0.02	-0.26	0.01	0.12	T
TD	0.56		-0.37	-0.42	-0.56	-0.29	-0.18	-0.42	-0.33	-0.33	TD
MFC	-0.27	-0.37		0.31	0.95	-0.12	0.93	0.95	0.9	0.84	MFC
CNQ	-0.52	-0.42	0.31		0.4	0.48	0.1	0.2	0.05	0.07	CNQ
TRP	-0.32	-0.56	0.95	0.4		-0.07	0.87	0.93	0.89	0.85	TRP
ATH	-0.52	-0.29	-0.12	0.48	-0.07		-0.25	-0.05	-0.27	-0.32	ATH
BNS	-0.02	-0.18	0.93	0.1	0.87	-0.25		0.91	0.93	0.89	BNS
ENB	-0.26	-0.42	0.95	0.2	0.93	-0.05	0.91		0.88	0.83	ENB
CM	0.01	-0.33	0.9	0.05	0.89	-0.27	0.93	0.88		0.96	CM
RY	0.12	-0.33	0.84	0.07	0.85	-0.32	0.89	0.83	0.96		RY
	T	TD	MFC	CNQ	TRP	ATH	BNS	ENB	CM	RY

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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

RY	+ 0.96	CM
TRP	+ 0.95	MFC
ENB	+ 0.95	MFC
BNS	+ 0.93	MFC
ENB	+ 0.93	TRP
CM	+ 0.93	BNS

High negative correlations

TRP	- 0.56	TD
ATH	- 0.52	T
CNQ	- 0.52	T
ENB	- 0.42	TD
CNQ	- 0.42	TD
MFC	- 0.37	TD

Risk-Adjusted Indicators

There is a big difference between Canaccord Stock performing well and Canaccord Genuity 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 Canaccord Genuity'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	0.72	0.01	(0.15)	0.02	0.81	(0.89)	2.01	(1.30)	5.91
TD	0.78	(0.04)	0.00	(3.25)	0.00	0.00	1.82	(1.41)	7.45
MFC	0.77	0.31	0.32	0.71	0.21	(0.96)	2.18	(1.27)	6.59
CNQ	1.35	(0.02)	(0.05)	0.07	1.86	(1.36)	2.49	(3.28)	10.20
TRP	0.91	0.37	0.23	2.04	0.74	(1.08)	2.18	(1.47)	5.19
ATH	1.68	0.04	(0.04)	(1.18)	2.06	(1.78)	3.13	(3.44)	7.39
BNS	0.67	0.32	0.28	(15.52)	0.00	(0.82)	1.79	(0.96)	4.38
ENB	0.60	0.19	0.15	1.07	0.25	(0.70)	1.62	(0.91)	3.26
CM	0.64	0.36	0.34	(10.25)	0.00	(0.77)	1.55	(0.95)	7.17
RY	0.60	0.18	0.14	1.04	0.29	(0.78)	1.70	(0.82)	4.18

Be your own money manager

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