Canadian Life Correlations

CLSPF Stock

USD 5.41 0.03 0.55%

The correlation of Canadian Life 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 Life Correlation With Market

Very poor diversification

The correlation between Canadian Life Companies and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Life Companies and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Canadian Life 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 Life 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 Life - 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 Life Companies to buy it.

Moving together with Canadian Pink Sheet

0.82	BK	Bank of New York	Pair Corr
0.83	IVSBF	Investor AB ser	Pair Corr
0.87	IVSXF	Investor AB	Pair Corr
0.78	AMP	Ameriprise Financial	Pair Corr
0.84	MBFJF	Mitsubishi UFJ Financial Downward Rally	Pair Corr
0.82	JPSTF	JAPAN POST BANK	Pair Corr
0.86	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.7	TLOFF	Talon Metals Corp	Pair Corr
0.84	GS	Goldman Sachs Group	Pair Corr
0.88	FRSB	First Resource Bank	Pair Corr
0.72	DUK-PA	Duke Energy	Pair Corr
0.76	NTZ	Natuzzi SpA	Pair Corr
0.82	CAMZF	Camino Minerals	Pair Corr
0.84	USPH	US Physicalrapy	Pair Corr
0.9	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.87	BNEFF	Bonterra Energy Corp	Pair Corr
0.83	JOE	St Joe Company	Pair Corr
0.92	BLAGF	Blue Lagoon Resources	Pair Corr

Moving against Canadian Pink Sheet

0.84

PBCRY

Bank Central Asia

Pair Corr

Related Correlations Analysis

	ASASF	BXLC	BBXIA	KROEF	BCBNF	ABIT	FBSI	DMGGF	UWHR	FNINF
ASASF		0.0	-0.07	0.53	-0.19	0.85	-0.35	0.26	-0.57	-0.7	ASASF
BXLC	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BXLC
BBXIA	-0.07	0.0		-0.48	0.03	-0.37	0.13	-0.44	0.55	0.49	BBXIA
KROEF	0.53	0.0	-0.48		0.0	0.71	-0.21	0.58	-0.7	-0.61	KROEF
BCBNF	-0.19	0.0	0.03	0.0		-0.18	0.04	0.47	0.16	0.1	BCBNF
ABIT	0.85	0.0	-0.37	0.71	-0.18		-0.43	0.51	-0.82	-0.75	ABIT
FBSI	-0.35	0.0	0.13	-0.21	0.04	-0.43		-0.33	0.45	0.57	FBSI
DMGGF	0.26	0.0	-0.44	0.58	0.47	0.51	-0.33		-0.62	-0.41	DMGGF
UWHR	-0.57	0.0	0.55	-0.7	0.16	-0.82	0.45	-0.62		0.7	UWHR
FNINF	-0.7	0.0	0.49	-0.61	0.1	-0.75	0.57	-0.41	0.7		FNINF
	ASASF	BXLC	BBXIA	KROEF	BCBNF	ABIT	FBSI	DMGGF	UWHR	FNINF

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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

ABIT	+ 0.85	ASASF
ABIT	+ 0.71	KROEF
FNINF	+ 0.7	UWHR
DMGGF	+ 0.58	KROEF
FNINF	+ 0.57	FBSI
UWHR	+ 0.55	BBXIA

High negative correlations

UWHR	- 0.82	ABIT
FNINF	- 0.75	ABIT
UWHR	- 0.7	KROEF
FNINF	- 0.7	ASASF
UWHR	- 0.62	DMGGF
FNINF	- 0.61	KROEF

Risk-Adjusted Indicators

There is a big difference between Canadian Pink Sheet performing well and Canadian Life 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 Canadian Life'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
ASASF	0.75	(0.39)	0.00	6.93	0.00	0.00	0.00	0.00	25.00
BXLC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBXIA	3.39	0.51	0.07	(1.29)	3.56	(7.07)	9.85	(7.64)	43.86
KROEF	7.40	(0.26)	0.00	(0.35)	0.00	0.00	29.17	(22.58)	75.25
BCBNF	2.31	0.00	(0.01)	0.07	2.39	(3.84)	5.97	(4.23)	18.23
ABIT	8.49	(1.55)	0.00	(0.49)	0.00	0.00	20.00	(19.78)	48.57
FBSI	1.77	0.26	0.00	(0.17)	0.00	0.00	4.91	(8.41)	31.80
DMGGF	4.79	(0.72)	0.00	(0.22)	0.00	0.00	10.53	(10.71)	31.55
UWHR	0.62	0.22	0.07	(0.91)	0.54	(1.35)	2.50	(0.83)	6.93
FNINF	2.98	1.58	0.00	(1.23)	0.00	0.00	0.00	0.00	100.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canadian Life 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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