Cineplex Correlations
| CGX Stock | CAD 10.24 0.49 5.03% |
The current 90-days correlation between Cineplex and Corus Entertainment is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cineplex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cineplex moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Cineplex Correlation With Market
Pay attention - limited upside
The correlation between Cineplex and DJI is -0.78 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cineplex and DJI in the same portfolio, assuming nothing else is changed.
Cineplex |
The ability to find closely correlated positions to Cineplex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cineplex 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 Cineplex - 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 Cineplex to buy it.
Moving against Cineplex Stock
| 0.92 | HLF | High Liner Foods | PairCorr |
| 0.91 | BNP | BNP Paribas CDR | PairCorr |
| 0.91 | BN-PC | Brookfield | PairCorr |
| 0.86 | TD | Toronto Dominion Bank Earnings Call Tomorrow | PairCorr |
| 0.86 | PESO | Pesorama | PairCorr |
| 0.82 | NIM | Nicola Mining | PairCorr |
| 0.82 | LNR | Linamar Earnings Call This Week | PairCorr |
| 0.78 | RY | Royal Bank Earnings Call Tomorrow | PairCorr |
| 0.78 | FFU | F4 Uranium Corp | PairCorr |
| 0.75 | NSE | New Stratus Energy | PairCorr |
| 0.64 | ISO | IsoEnergy Earnings Call Tomorrow | PairCorr |
| 0.64 | MOLY | Greenland Resources | PairCorr |
| 0.62 | CJT | Cargojet | PairCorr |
| 0.58 | CITI | CITIGROUP CDR | PairCorr |
| 0.56 | RTG | RTG Mining | PairCorr |
| 0.53 | ATX | ATEX Resources | PairCorr |
| 0.52 | GKO | Geekco Technologies Corp | PairCorr |
| 0.51 | TUF | Honey Badger Silver | PairCorr |
| 0.5 | MDM | Madoro Metals Corp | PairCorr |
| 0.5 | GIGA | Giga Metals Corp | PairCorr |
| 0.4 | QNC | Quantum eMotion Corp | PairCorr |
| 0.36 | TF | Timbercreek Financial | PairCorr |
| 0.32 | GWM | Galway Metals | PairCorr |
| 0.89 | BPF-UN | Boston Pizza Royalties | PairCorr |
| 0.85 | TOT | Total Energy Services | PairCorr |
| 0.84 | GUG | Gungnir Resources | PairCorr |
| 0.82 | MFC-PP | Manulife Financial Corp | PairCorr |
| 0.81 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.8 | GLD | GoldOn Resources | PairCorr |
| 0.77 | AZT | Aztec Minerals Corp | PairCorr |
| 0.76 | SLF-PJ | Sun Life Financial | PairCorr |
| 0.73 | IVN | Ivanhoe Mines | PairCorr |
| 0.73 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.71 | PSLV | Sprott Physical Silver | PairCorr |
| 0.71 | FTEC | Fintech Select | 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 Cineplex Stock performing well and Cineplex 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 Cineplex'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CJR-B | 3.10 | (0.36) | 0.00 | 0.41 | 0.00 | 0.00 | 58.33 | |||
| EGLX | 3.64 | (0.22) | 0.00 | 0.27 | 0.00 | 12.50 | 25.76 | |||
| TGO | 3.54 | 0.18 | 0.02 | 4.79 | 3.62 | 8.22 | 22.69 | |||
| SPN | 3.30 | 0.01 | 0.01 | 0.11 | 4.18 | 11.11 | 25.00 | |||
| QYOU | 3.80 | (0.10) | (0.02) | 0.01 | 4.07 | 7.69 | 51.89 | |||
| NTE | 2.99 | (0.23) | 0.00 | 0.29 | 0.00 | 10.00 | 32.22 | |||
| GKO | 7.30 | 1.48 | 0.10 | 6.42 | 6.98 | 25.00 | 69.44 | |||
| GVC | 3.88 | 0.93 | 0.11 | 0.71 | 3.68 | 12.50 | 35.88 | |||
| YOO | 2.27 | (0.36) | 0.00 | 0.33 | 0.00 | 0.00 | 40.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Cineplex 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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