DIRTT Environmental Correlations

DRT Stock

CAD 0.85 0.01 1.16%

The current 90-days correlation between DIRTT Environmental and ADF Group is 0.16 (i.e., Average 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 -0.76 (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

0.79	GUG	Gungnir Resources	Pair Corr
0.66	GDI	GDI Integrated	Pair Corr
0.59	KTO	K2 Gold	Pair Corr
0.58	RS	Real Estate E	Pair Corr
0.57	ESP	Brompton Energy Split	Pair Corr
0.57	STLR	STLLR Gold	Pair Corr
0.52	RSMX	Regency Silver Corp	Pair Corr
0.51	TBL	Taiga Building Products	Pair Corr
0.49	BWR	Black Widow Resources	Pair Corr
0.46	AQN	Algonquin Power Utilities	Pair Corr
0.43	NWH-UN	NorthWest Healthcare	Pair Corr

Related Correlations Analysis

	DRX	DE	GRID	HMM-A	AEP	FTG	GSI
DRX		-0.34	0.68	-0.57	0.16	0.52	-0.72	DRX
DE	-0.34		-0.13	0.12	0.47	-0.1	0.58	DE
GRID	0.68	-0.13		-0.8	0.22	0.81	-0.74	GRID
HMM-A	-0.57	0.12	-0.8		-0.44	-0.83	0.7	HMM-A
AEP	0.16	0.47	0.22	-0.44		0.45	-0.09	AEP
FTG	0.52	-0.1	0.81	-0.83	0.45		-0.77	FTG
GSI	-0.72	0.58	-0.74	0.7	-0.09	-0.77		GSI
	DRX	DE	GRID	HMM-A	AEP	FTG	GSI

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

FTG	+ 0.81	GRID
GSI	+ 0.7	HMM-A
GRID	+ 0.68	DRX
GSI	+ 0.58	DE
FTG	+ 0.52	DRX
AEP	+ 0.47	DE

High negative correlations

FTG	- 0.83	HMM-A
HMM-A	- 0.8	GRID
GSI	- 0.77	FTG
GSI	- 0.74	GRID
GSI	- 0.72	DRX
HMM-A	- 0.57	DRX

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
DRX	1.97	0.29	0.14	0.52	1.68	(2.47)	4.59	(3.31)	15.12
DE	0.94	(0.12)	0.00	3.66	0.00	0.00	1.73	(2.23)	7.65
GRID	2.96	0.53	0.12	4.42	3.64	(3.04)	6.11	(5.80)	17.53
HMM-A	1.26	(0.15)	0.00	(0.55)	0.00	0.00	3.17	(3.26)	11.38
AEP	2.03	(0.04)	0.00	0.12	0.00	0.00	4.84	(4.48)	18.97
FTG	1.82	0.42	0.17	2.82	1.85	(2.12)	4.69	(2.88)	16.45
GSI	2.42	(0.59)	0.00	(6.86)	0.00	0.00	5.42	(4.89)	16.24

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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