Dividend Correlations

DFN Stock

CAD 7.70 0.01 0.13%

The current 90-days correlation between Dividend 15 Split and Canadian General Investments is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dividend 15 Split moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dividend Correlation With Market

Very poor diversification

The correlation between Dividend 15 Split and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dividend 15 Split and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Dividend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dividend 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 Dividend - 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 Dividend 15 Split to buy it.

Moving together with Dividend Stock

0.69	GOOG	Alphabet CDR	Pair Corr
0.69	GOOG	Alphabet CDR	Pair Corr
0.76	SBI	Serabi Gold PLC	Pair Corr
0.69	LOVE	Cannara Biotech	Pair Corr
0.72	BTE	Baytex Energy Corp	Pair Corr
0.71	MS	Morgan Stanley CDR	Pair Corr
0.68	IPO	InPlay Oil Corp	Pair Corr
0.77	WAST	Waste Management CDR	Pair Corr
0.92	SGR-U	Slate Grocery REIT	Pair Corr
0.66	CIA	Champion Iron	Pair Corr
0.83	QNC	Quantum eMotion Corp	Pair Corr
0.76	ETG	Entree Resources	Pair Corr
0.9	MGG	Minaurum Silver	Pair Corr
0.66	BBB	Brixton Metals	Pair Corr
0.84	PDV	Prime Dividend Corp	Pair Corr
0.67	DOS	Dios Exploration	Pair Corr
0.71	WPRT	Westport Fuel Systems	Pair Corr
0.76	PWF-PA	Power Financial Corp	Pair Corr
0.75	TRU	Trius Investments	Pair Corr
0.87	FTT	Finning International	Pair Corr
0.79	ENB-PFC	Enbridge Pref 11	Pair Corr
0.94	PGDC	Patagonia Gold Corp	Pair Corr
0.77	TUF	Honey Badger Silver	Pair Corr
0.86	TI	Titan Mining Corp	Pair Corr
0.91	BPF-UN	Boston Pizza Royalties	Pair Corr
0.91	ACQ	Autocanada	Pair Corr
0.61	CCA	Cogeco Communications	Pair Corr
0.73	EXE	Extendicare	Pair Corr
0.86	CWEB	Charlottes Web Holdings	Pair Corr
0.91	MKO	Mako Mining Corp	Pair Corr

Moving against Dividend Stock

0.67	MSFT	Microsoft Corp CDR	Pair Corr
0.67	MSFT	Microsoft CDR	Pair Corr
0.67	AAPL	Apple Inc CDR	Pair Corr
0.67	AAPL	Apple CDR	Pair Corr

Related Correlations Analysis

	CGI	FTN	SEC	AGF-B	CVG	FFN	BK	DGS	LBS
CGI		0.88	0.33	0.85	0.43	0.82	0.82	0.94	0.89	CGI
FTN	0.88		0.45	0.9	0.49	0.97	0.96	0.85	0.98	FTN
SEC	0.33	0.45		0.37	0.33	0.42	0.5	0.25	0.45	SEC
AGF-B	0.85	0.9	0.37		0.53	0.81	0.81	0.88	0.92	AGF-B
CVG	0.43	0.49	0.33	0.53		0.43	0.37	0.47	0.5	CVG
FFN	0.82	0.97	0.42	0.81	0.43		0.95	0.75	0.95	FFN
BK	0.82	0.96	0.5	0.81	0.37	0.95		0.75	0.94	BK
DGS	0.94	0.85	0.25	0.88	0.47	0.75	0.75		0.84	DGS
LBS	0.89	0.98	0.45	0.92	0.5	0.95	0.94	0.84		LBS
	CGI	FTN	SEC	AGF-B	CVG	FFN	BK	DGS	LBS

Risk-Adjusted Indicators

There is a big difference between Dividend Stock performing well and Dividend 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 Dividend'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
CGI	0.66	0.11	0.09	0.53	0.65	(0.75)	1.65	(1.20)	4.60
FTN	0.73	0.13	0.09	0.22	1.02	(0.80)	1.37	(1.43)	9.26
SEC	0.60	(0.04)	0.00	0.39	0.00	0.00	0.94	(3.00)	10.42
AGF-B	1.23	0.47	0.28	2.32	1.04	(1.39)	3.08	(2.35)	9.55
CVG	0.54	0.00	(0.04)	0.07	0.84	(0.75)	1.41	(1.54)	6.93
FFN	0.99	0.18	0.09	0.23	1.56	(1.01)	2.33	(2.99)	7.76
BK	0.82	0.19	0.16	0.35	0.80	(1.02)	1.74	(1.26)	11.77
DGS	0.63	0.16	0.10	0.40	0.93	(0.70)	1.43	(1.43)	5.31
LBS	0.68	0.14	0.14	0.30	0.68	(0.75)	1.60	(1.55)	3.97

Be your own money manager

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