Computer Modelling Correlations

CMG Stock

CAD 5.19 0.02 0.39%

The current 90-days correlation between Computer Modelling and TECSYS Inc is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Computer Modelling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Computer Modelling Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Computer Modelling Correlation With Market

Good diversification

The correlation between Computer Modelling 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 Computer Modelling Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Computer Stock

0.75	TBL	Taiga Building Products	Pair Corr
0.62	TAL	PetroTal Corp	Pair Corr
0.89	RS	Real Estate E	Pair Corr

Moving against Computer Stock

0.81	DRT	DIRTT Environmental	Pair Corr
0.79	ENB-PFC	Enbridge Pref 11	Pair Corr
0.72	GMG	Graphene Manufacturing	Pair Corr
0.69	NPTH	NeuPath Health	Pair Corr
0.68	AVR	Avaron Mining Corp	Pair Corr
0.67	GRID	Tantalus Systems Holding	Pair Corr
0.66	LFE	Canadian Life Companies	Pair Corr
0.61	XLY	Auxly Cannabis Group	Pair Corr
0.61	ESP	Brompton Energy Split	Pair Corr
0.61	SFI	Solution Financial	Pair Corr
0.55	PD	Precision Drilling	Pair Corr
0.55	CGC	Aris Gold	Pair Corr
0.49	CN	Condor Resources	Pair Corr
0.41	GS	GOLDMAN SACHS CDR	Pair Corr
0.36	CGNT	Copper Giant Resources	Pair Corr
0.36	HAI	Haivision Systems	Pair Corr
0.35	FTU-PB	US Financial 15	Pair Corr
0.86	LDB-P	LDB Capital Corp	Pair Corr
0.79	PRM	Big Pharma Split	Pair Corr
0.77	IGM	IGM Financial	Pair Corr
0.76	BAMI	Blue Ant Media	Pair Corr
0.76	VAU	Viva Gold Corp	Pair Corr
0.75	SAP	Saputo Inc	Pair Corr
0.73	WPK	Winpak	Pair Corr
0.67	TD	Toronto Dominion Bank	Pair Corr
0.66	KEC	Kiwetinohk Energy Corp	Pair Corr
0.64	MKZ-UN	Mackenzie Mstr Un	Pair Corr
0.58	FFN	North American Financial	Pair Corr

Related Correlations Analysis

	TCS	REAL	DND	FLT	BLN	TC	CVO	XTRA	WNDR	NCI
TCS		0.57	0.28	0.25	0.67	-0.46	0.23	0.48	0.01	0.49	TCS
REAL	0.57		0.76	0.71	0.63	-0.9	0.78	0.58	0.69	0.92	REAL
DND	0.28	0.76		0.55	0.47	-0.73	0.88	0.43	0.84	0.86	DND
FLT	0.25	0.71	0.55		0.49	-0.68	0.58	0.33	0.63	0.7	FLT
BLN	0.67	0.63	0.47	0.49		-0.59	0.42	0.25	0.35	0.57	BLN
TC	-0.46	-0.9	-0.73	-0.68	-0.59		-0.7	-0.56	-0.63	-0.84	TC
CVO	0.23	0.78	0.88	0.58	0.42	-0.7		0.45	0.92	0.81	CVO
XTRA	0.48	0.58	0.43	0.33	0.25	-0.56	0.45		0.23	0.59	XTRA
WNDR	0.01	0.69	0.84	0.63	0.35	-0.63	0.92	0.23		0.73	WNDR
NCI	0.49	0.92	0.86	0.7	0.57	-0.84	0.81	0.59	0.73		NCI
	TCS	REAL	DND	FLT	BLN	TC	CVO	XTRA	WNDR	NCI

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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

NCI	+ 0.92	REAL
WNDR	+ 0.92	CVO
CVO	+ 0.88	DND
NCI	+ 0.86	DND
WNDR	+ 0.84	DND
NCI	+ 0.81	CVO

High negative correlations

TC	- 0.9	REAL
NCI	- 0.84	TC
TC	- 0.73	DND
CVO	- 0.7	TC
TC	- 0.68	FLT
WNDR	- 0.63	TC

Risk-Adjusted Indicators

There is a big difference between Computer Stock performing well and Computer Modelling 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 Computer Modelling'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
TCS	1.39	(0.15)	0.00	(0.13)	0.00	0.00	2.83	(3.08)	9.27
REAL	1.39	(0.44)	0.00	(0.73)	0.00	0.00	2.35	(3.25)	9.85
DND	5.10	(0.90)	0.00	(0.56)	0.00	0.00	8.23	(16.73)	54.37
FLT	3.99	(0.01)	0.00	0.05	4.36	(5.15)	8.33	(8.11)	22.67
BLN	1.15	(0.13)	0.00	(1.31)	0.00	0.00	2.33	(2.83)	8.74
TC	2.24	0.23	0.07	(6.80)	2.46	(2.48)	5.43	(4.17)	13.41
CVO	2.35	(0.39)	0.00	(0.62)	0.00	0.00	4.22	(4.24)	32.61
XTRA	3.26	(0.17)	0.00	(0.02)	0.00	0.00	8.54	(6.49)	33.14
WNDR	1.60	(0.25)	0.00	1.07	0.00	0.00	3.85	(3.70)	11.26
NCI	3.24	(0.57)	0.00	(0.48)	0.00	0.00	5.88	(7.48)	24.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in Computer Modelling 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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