Definity Financial Correlations

DFY Stock

67.32 0.12 0.18%

The current 90-days correlation between Definity Financial Corp and Onex Corp is -0.19 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Definity Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Definity Financial Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Definity Financial Correlation With Market

Very good diversification

The correlation between Definity Financial Corp and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Definity Financial Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Definity Stock

0.68

CVO

Coveo Solutions

Pair Corr

Moving against Definity Stock

0.85	OBE	Obsidian Energy	Pair Corr
0.68	MCDS	McDonalds Corp CDR	Pair Corr
0.68	GUG	Gungnir Resources	Pair Corr
0.67	NSE	New Stratus Energy	Pair Corr
0.64	AQN-PD	Algonquin Power Utilities Earnings Call Today	Pair Corr
0.53	BPF-UN	Boston Pizza Royalties	Pair Corr
0.53	BN-PFI	Brookfield	Pair Corr
0.52	PGDC	Patagonia Gold Corp	Pair Corr
0.51	DR	Medical Facilities Earnings Call This Week	Pair Corr
0.49	FFU	F4 Uranium Corp	Pair Corr
0.38	ENB-PFC	Enbridge Pref 11	Pair Corr
0.37	RUP	Rupert Resources	Pair Corr
0.34	IVN	Ivanhoe Mines	Pair Corr
0.34	CBR	Cabral Gold	Pair Corr
0.72	LORL	Loral Space Communic	Pair Corr
0.71	TOT	Total Energy Services Earnings Call This Week	Pair Corr
0.7	DE	Decisive Dividend Corp Earnings Call This Week	Pair Corr
0.69	RTG	RTG Mining	Pair Corr
0.66	BTO	B2Gold Corp	Pair Corr
0.62	MU	Micron Technology	Pair Corr
0.62	HLF	High Liner Foods	Pair Corr
0.6	CJT	Cargojet	Pair Corr
0.56	ATX	ATEX Resources	Pair Corr
0.54	BN-PC	Brookfield	Pair Corr
0.51	PML	Panoro Minerals	Pair Corr
0.5	PESO	Pesorama	Pair Corr

Related Correlations Analysis

	ONEX	HUT	IFC-PA	ELF	IFC	IGM	IAG	EQB	TSU
ONEX		0.21	-0.6	0.01	0.24	-0.24	0.66	-0.56	-0.36	ONEX
HUT	0.21		0.5	0.64	-0.51	0.69	0.01	0.5	0.55	HUT
IFC-PA	-0.6	0.5		0.52	-0.71	0.8	-0.53	0.92	0.72	IFC-PA
ELF	0.01	0.64	0.52		-0.69	0.74	-0.27	0.49	0.51	ELF
IFC	0.24	-0.51	-0.71	-0.69		-0.68	0.54	-0.61	-0.32	IFC
IGM	-0.24	0.69	0.8	0.74	-0.68		-0.27	0.83	0.72	IGM
IAG	0.66	0.01	-0.53	-0.27	0.54	-0.27		-0.41	-0.21	IAG
EQB	-0.56	0.5	0.92	0.49	-0.61	0.83	-0.41		0.76	EQB
TSU	-0.36	0.55	0.72	0.51	-0.32	0.72	-0.21	0.76		TSU
	ONEX	HUT	IFC-PA	ELF	IFC	IGM	IAG	EQB	TSU

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

EQB	+ 0.92	IFC-PA
EQB	+ 0.83	IGM
IGM	+ 0.8	IFC-PA
TSU	+ 0.76	EQB
IGM	+ 0.74	ELF
TSU	+ 0.72	IFC-PA

High negative correlations

IFC	- 0.71	IFC-PA
IFC	- 0.69	ELF
IGM	- 0.68	IFC
EQB	- 0.61	IFC
IFC-PA	- 0.6	ONEX
EQB	- 0.56	ONEX

Risk-Adjusted Indicators

There is a big difference between Definity Stock performing well and Definity Financial 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 Definity Financial'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
ONEX	1.07	(0.09)	0.00	(0.09)	0.00	0.00	1.87	(2.82)	9.47
HUT	5.24	0.41	0.07	0.18	6.79	(5.32)	13.66	(11.69)	32.49
IFC-PA	0.40	0.07	0.07	0.76	0.38	(0.44)	0.88	(0.78)	2.08
ELF	0.78	0.01	(0.01)	0.05	0.92	(0.86)	1.82	(1.47)	6.94
IFC	0.93	(0.15)	0.00	0.87	0.00	0.00	1.69	(1.77)	6.79
IGM	1.23	0.26	0.14	0.37	1.51	(1.29)	2.58	(2.12)	10.51
IAG	1.04	(0.12)	0.00	(0.21)	0.00	0.00	1.59	(1.74)	13.42
EQB	1.17	0.47	0.38	5.36	0.72	(1.48)	2.56	(1.76)	16.06
TSU	1.49	0.18	0.10	1.20	1.30	(1.89)	4.16	(2.61)	14.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Definity Financial 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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Definity Financial Corporate Management

Elected by the shareholders, the Definity Financial's board of directors comprises two types of representatives: Definity Financial inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Definity. The board's role is to monitor Definity Financial's management team and ensure that shareholders' interests are well served. Definity Financial's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Definity Financial's outside directors are responsible for providing unbiased perspectives on the board's policies.

Tatjana Lalkovic	VP Officer	Profile
Craig Richardson	Senior Officer	Profile
Liam McFarlane	Chief Officer	Profile
Roger Dunbar	VicePres Sonnet	Profile
Obaid Rahman	Senior Insurance	Profile

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