EQB Correlations

EQB Stock

CAD 103.81 0.36 0.35%

The current 90-days correlation between EQB Inc and Brookfield Business Corp is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EQB moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EQB Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EQB Correlation With Market

Average diversification

The correlation between EQB Inc and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EQB Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EQB Stock

0.82	EOG	Eco Atlantic Oil	Pair Corr
0.71	FFN	North American Financial	Pair Corr
0.75	CGNT	Copper Giant Resources	Pair Corr
0.7	YES	CHAR Technologies	Pair Corr
0.69	APGO	Apollo Silver Corp	Pair Corr
0.78	FTU-PB	US Financial 15	Pair Corr
0.65	PD	Precision Drilling	Pair Corr
0.76	GS	GOLDMAN SACHS CDR	Pair Corr
0.66	PNTR	Pantera Silver Corp	Pair Corr
0.83	ELR	Eastern Platinum	Pair Corr
0.73	HAI	Haivision Systems	Pair Corr
0.65	TD	Toronto Dominion Bank	Pair Corr
0.74	RUP	Rupert Resources	Pair Corr

Moving against EQB Stock

0.6	TGO	TeraGo Inc	Pair Corr
0.52	ETG	Entree Resources	Pair Corr
0.37	KLS	Kelso Technologies	Pair Corr
0.36	DRT	DIRTT Environmental	Pair Corr
0.38	AEMC	Alaska Energy Metals Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	BBUC	IFC-PA	GSY	SII	MKP	AI	TF	FC	BITF
BBUC		-0.27	0.29	0.03	0.05	0.34	0.09	-0.1	0.5	BBUC
IFC-PA	-0.27		0.34	-0.31	-0.35	-0.35	0.07	0.38	0.26	IFC-PA
GSY	0.29	0.34		-0.75	-0.57	0.05	0.66	0.68	0.5	GSY
SII	0.03	-0.31	-0.75		0.69	0.36	-0.39	-0.43	-0.31	SII
MKP	0.05	-0.35	-0.57	0.69		0.59	-0.18	-0.17	-0.65	MKP
AI	0.34	-0.35	0.05	0.36	0.59		0.53	0.38	-0.27	AI
TF	0.09	0.07	0.66	-0.39	-0.18	0.53		0.82	0.11	TF
FC	-0.1	0.38	0.68	-0.43	-0.17	0.38	0.82		0.04	FC
BITF	0.5	0.26	0.5	-0.31	-0.65	-0.27	0.11	0.04		BITF
	BBUC	IFC-PA	GSY	SII	MKP	AI	TF	FC	BITF

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

FC	+ 0.82	TF
MKP	+ 0.69	SII
FC	+ 0.68	GSY
TF	+ 0.66	GSY
AI	+ 0.59	MKP
TF	+ 0.53	AI

High negative correlations

SII	- 0.75	GSY
BITF	- 0.65	MKP
MKP	- 0.57	GSY
FC	- 0.43	SII
TF	- 0.39	SII
AI	- 0.35	IFC-PA

Risk-Adjusted Indicators

There is a big difference between EQB Stock performing well and EQB 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 EQB'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
BBUC	1.94	0.00	(0.01)	0.08	2.91	(1.98)	3.44	(3.97)	19.82
IFC-PA	0.43	(0.02)	0.00	(0.66)	0.00	0.00	0.87	(1.14)	2.61
GSY	1.79	(0.45)	0.00	(0.35)	0.00	0.00	2.87	(3.53)	19.36
SII	1.64	0.33	0.12	0.47	2.20	(1.63)	3.73	(3.86)	10.41
MKP	0.76	0.01	(0.02)	0.10	0.95	(0.74)	1.49	(1.57)	4.22
AI	0.45	0.00	(0.09)	0.06	0.58	(0.49)	0.99	(1.04)	2.65
TF	0.86	(0.17)	0.00	(0.18)	0.00	0.00	1.66	(1.76)	5.98
FC	0.50	(0.07)	0.00	(0.13)	0.00	0.00	0.86	(1.27)	2.66
BITF	5.96	0.26	0.04	0.24	6.32	(7.95)	14.76	(10.11)	59.53

Be your own money manager

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