DIRTT Environmental Correlations

DRT Stock

CAD 0.95 0.05 5.56%

The current 90-days correlation between DIRTT Environmental and Westshore Terminals Investment is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DIRTT Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DIRTT Environmental Solutions moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

DIRTT Environmental Correlation With Market

Pay attention - limited upside

The correlation between DIRTT Environmental Solutions and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DIRTT Environmental Solutions and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against DIRTT Stock

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0.81	ATX	ATEX Resources	Pair Corr
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0.58	PML	Panoro Minerals	Pair Corr
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0.51	QNC	Quantum eMotion Corp	Pair Corr
0.48	DE	Decisive Dividend Corp	Pair Corr
0.47	IVN	Ivanhoe Mines	Pair Corr
0.39	PGDC	Patagonia Gold Corp	Pair Corr
0.32	GWM	Galway Metals	Pair Corr
0.87	HLF	High Liner Foods	Pair Corr
0.85	TCL-A	Transcontinental	Pair Corr
0.83	MFC-PP	Manulife Financial Corp	Pair Corr
0.81	GUG	Gungnir Resources	Pair Corr
0.79	SLF-PJ	Sun Life Financial	Pair Corr
0.79	MU	Micron Technology	Pair Corr
0.76	CJT	Cargojet	Pair Corr
0.76	BN-PFI	Brookfield	Pair Corr
0.75	IFA	iFabric Corp	Pair Corr
0.66	RUP	Rupert Resources	Pair Corr
0.66	ENB-PFC	Enbridge Pref 11	Pair Corr
0.64	ISO	IsoEnergy	Pair Corr
0.54	BTO	B2Gold Corp	Pair Corr

Related Correlations Analysis

	BDGI	TCL-A	SIS	WTE	RUS	BLDP	HPS-A
BDGI		-0.02	-0.13	-0.37	-0.13	0.68	-0.62	BDGI
TCL-A	-0.02		0.69	0.67	0.74	-0.18	0.42	TCL-A
SIS	-0.13	0.69		0.88	0.93	-0.45	0.51	SIS
WTE	-0.37	0.67	0.88		0.87	-0.63	0.81	WTE
RUS	-0.13	0.74	0.93	0.87		-0.42	0.5	RUS
BLDP	0.68	-0.18	-0.45	-0.63	-0.42		-0.71	BLDP
HPS-A	-0.62	0.42	0.51	0.81	0.5	-0.71		HPS-A
	BDGI	TCL-A	SIS	WTE	RUS	BLDP	HPS-A

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

RUS	+ 0.93	SIS
WTE	+ 0.88	SIS
RUS	+ 0.87	WTE
HPS-A	+ 0.81	WTE
RUS	+ 0.74	TCL-A
SIS	+ 0.69	TCL-A

High negative correlations

HPS-A	- 0.71	BLDP
BLDP	- 0.63	WTE
HPS-A	- 0.62	BDGI
BLDP	- 0.45	SIS
BLDP	- 0.42	RUS
WTE	- 0.37	BDGI

Risk-Adjusted Indicators

There is a big difference between DIRTT Stock performing well and DIRTT Environmental 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 DIRTT Environmental'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
BDGI	1.53	(0.02)	(0.03)	0.08	2.17	(1.51)	3.09	(3.96)	9.94
TCL-A	1.15	0.26	0.12	(13.94)	0.92	(1.42)	1.91	(2.01)	21.90
SIS	1.06	0.26	0.20	0.71	0.67	(1.32)	2.42	(1.73)	7.96
WTE	0.85	0.43	0.31	2.35	0.53	(1.03)	2.32	(1.49)	6.24
RUS	0.90	0.26	0.11	0.53	1.63	(1.01)	2.15	(1.03)	12.23
BLDP	2.04	(0.58)	0.00	(0.26)	0.00	0.00	3.72	(4.57)	13.91
HPS-A	1.95	0.25	0.12	0.30	1.92	(2.14)	4.63	(3.78)	11.34

Be your own money manager

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