Canadian Net Correlations

CNNRF Stock

USD 4.30 0.02 0.47%

The current 90-days correlation between Canadian Net Real and Lippo Malls Indonesia is -0.16 (i.e., Good diversification). The correlation of Canadian Net 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 Net Correlation With Market

Significant diversification

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

The ability to find closely correlated positions to Canadian Net 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 Net 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 Net - 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 Net Real to buy it.

Moving together with Canadian Pink Sheet

0.68	FCTI	Fact Inc	Pair Corr
0.82	BIMT	Bitmis Corp	Pair Corr
0.81	MITK	Mitek Systems Earnings Call This Week	Pair Corr
0.8	INFFF	Intact Financial	Pair Corr
0.74	CPSS	Consumer Portfolio	Pair Corr
0.88	GPAEF	Grupo Aeroportuario del	Pair Corr
0.71	BXMT	Blackstone Mortgage Trust	Pair Corr
0.77	PEB	Pebblebrook Hotel Trust	Pair Corr
0.92	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.69	FER	Ferrovial SE Sell-off Trend	Pair Corr
0.81	UNTN	United Tennessee Ban	Pair Corr
0.7	TPC	Tutor Perini	Pair Corr
0.62	EXCE	EXCO Resources	Pair Corr
0.69	JXN-PA	Jackson Financial	Pair Corr
0.73	DBRG	Digitalbridge Group	Pair Corr
0.82	CULL	Cullman Bancorp	Pair Corr
0.85	DC	Dakota Gold Corp	Pair Corr
0.66	GOOG	Alphabet Class C Sell-off Trend	Pair Corr

Moving against Canadian Pink Sheet

0.65	STKAF	Stockland	Pair Corr
0.62	VICI	VICI Properties	Pair Corr
0.5	PNGM	Er Therapeutics	Pair Corr
0.48	STI	Solidion Technology	Pair Corr

Related Correlations Analysis

	LPMDF	PKTEF	MRTI	FREVS	TUERF	MHIVF	CPTP	DOLHF	BREUF	SIOLY
LPMDF		-0.19	-0.41	-0.2	-0.29	-0.24	-0.51	0.16	-0.04	-0.14	LPMDF
PKTEF	-0.19		0.22	0.44	0.58	0.1	0.24	0.19	0.48	0.57	PKTEF
MRTI	-0.41	0.22		0.6	0.56	0.02	0.68	-0.48	0.26	-0.08	MRTI
FREVS	-0.2	0.44	0.6		0.81	-0.12	0.56	-0.09	0.58	0.22	FREVS
TUERF	-0.29	0.58	0.56	0.81		-0.04	0.52	0.0	0.67	0.21	TUERF
MHIVF	-0.24	0.1	0.02	-0.12	-0.04		0.07	-0.14	-0.11	-0.03	MHIVF
CPTP	-0.51	0.24	0.68	0.56	0.52	0.07		-0.41	0.18	0.05	CPTP
DOLHF	0.16	0.19	-0.48	-0.09	0.0	-0.14	-0.41		0.32	0.32	DOLHF
BREUF	-0.04	0.48	0.26	0.58	0.67	-0.11	0.18	0.32		0.12	BREUF
SIOLY	-0.14	0.57	-0.08	0.22	0.21	-0.03	0.05	0.32	0.12		SIOLY
	LPMDF	PKTEF	MRTI	FREVS	TUERF	MHIVF	CPTP	DOLHF	BREUF	SIOLY

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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

TUERF	+ 0.81	FREVS
CPTP	+ 0.68	MRTI
BREUF	+ 0.67	TUERF
FREVS	+ 0.6	MRTI
TUERF	+ 0.58	PKTEF
BREUF	+ 0.58	FREVS

High negative correlations

CPTP	- 0.51	LPMDF
DOLHF	- 0.48	MRTI
DOLHF	- 0.41	CPTP
MRTI	- 0.41	LPMDF
TUERF	- 0.29	LPMDF
MHIVF	- 0.24	LPMDF

Risk-Adjusted Indicators

There is a big difference between Canadian Pink Sheet performing well and Canadian Net 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 Net'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
LPMDF	1.19	(0.61)	0.00	9.26	0.00	0.00	0.00	0.00	40.00
PKTEF	0.79	0.03	0.00	0.57	0.00	0.00	0.00	0.00	23.40
MRTI	4.15	0.75	0.08	(0.71)	4.90	(5.31)	11.11	(7.67)	40.37
FREVS	1.70	(0.02)	(0.01)	0.09	2.44	(2.53)	4.46	(4.58)	14.01
TUERF	0.27	0.00	0.00	(0.10)	0.00	0.00	0.94	(0.47)	6.68
MHIVF	7.44	1.27	0.04	(0.52)	9.43	(17.43)	23.08	(17.65)	75.87
CPTP	1.58	0.18	0.03	0.28	2.68	(5.04)	4.35	(1.82)	30.71
DOLHF	0.59	(0.43)	0.00	(0.29)	0.00	0.00	0.00	0.00	19.63
BREUF	1.21	(0.12)	0.00	0.89	0.00	0.00	2.56	(3.98)	9.42
SIOLY	4.04	0.00	0.00	0.11	6.69	(10.42)	15.00	(16.00)	38.22

Be your own money manager

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