First National Correlations

FN-PB Preferred Stock

CAD 25.19 1.43 6.02%

The current 90-days correlation between First National Financial and Roots Corp is 0.16 (i.e., Average diversification). The correlation of First National is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

First National Correlation With Market

Poor diversification

The correlation between First National Financial and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First National Financial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Preferred Stock

0.76	ENB-PFC	Enbridge Pref 11	Pair Corr
0.65	GQ	Great Quest Fertilizer Split	Pair Corr
0.61	QNC	Quantum eMotion Corp	Pair Corr
0.87	PML	Panoro Minerals	Pair Corr
0.75	NSE	New Stratus Energy	Pair Corr
0.85	NIM	Nicola Mining	Pair Corr
0.68	GKO	Geekco Technologies Corp	Pair Corr
0.7	CJT	Cargojet	Pair Corr
0.67	SLF-PJ	Sun Life Financial	Pair Corr
0.81	OYL	CGX Energy	Pair Corr
0.74	RUP	Rupert Resources	Pair Corr
0.68	GIG	XAU Resources Earnings Call Today	Pair Corr
0.8	ATX	ATEX Resources	Pair Corr
0.9	BTO	B2Gold Corp	Pair Corr
0.64	PGDC	Patagonia Gold Corp	Pair Corr
0.62	TCL-A	Transcontinental	Pair Corr
0.76	TF	Timbercreek Financial	Pair Corr
0.8	BN-PFI	Brookfield	Pair Corr
0.78	LNR	Linamar Earnings Call This Week	Pair Corr

Moving against First Preferred Stock

0.77	MSFT	Microsoft Corp CDR	Pair Corr
0.77	MSFT	Microsoft CDR	Pair Corr
0.46	AMZN	Amazon CDR	Pair Corr
0.46	AMZN	Amazon CDR	Pair Corr

Related Correlations Analysis

	DHT-U	SGR-U	ROOT	MRT-UN	TC	DND	CU-PJ	BOS	PPL-PA
DHT-U		-0.31	-0.16	-0.21	-0.02	0.17	-0.33	0.0	-0.15	DHT-U
SGR-U	-0.31		-0.67	0.76	-0.2	0.47	0.64	0.8	0.87	SGR-U
ROOT	-0.16	-0.67		-0.54	0.36	-0.49	-0.3	-0.76	-0.6	ROOT
MRT-UN	-0.21	0.76	-0.54		0.21	0.75	0.46	0.5	0.66	MRT-UN
TC	-0.02	-0.2	0.36	0.21		0.36	-0.11	-0.45	-0.32	TC
DND	0.17	0.47	-0.49	0.75	0.36		0.13	0.35	0.38	DND
CU-PJ	-0.33	0.64	-0.3	0.46	-0.11	0.13		0.53	0.69	CU-PJ
BOS	0.0	0.8	-0.76	0.5	-0.45	0.35	0.53		0.82	BOS
PPL-PA	-0.15	0.87	-0.6	0.66	-0.32	0.38	0.69	0.82		PPL-PA
	DHT-U	SGR-U	ROOT	MRT-UN	TC	DND	CU-PJ	BOS	PPL-PA

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

PPL-PA	+ 0.87	SGR-U
PPL-PA	+ 0.82	BOS
BOS	+ 0.8	SGR-U
MRT-UN	+ 0.76	SGR-U
DND	+ 0.75	MRT-UN
PPL-PA	+ 0.69	CU-PJ

High negative correlations

BOS	- 0.76	ROOT
ROOT	- 0.67	SGR-U
PPL-PA	- 0.6	ROOT
MRT-UN	- 0.54	ROOT
DND	- 0.49	ROOT
BOS	- 0.45	TC

Risk-Adjusted Indicators

There is a big difference between First Preferred Stock performing well and First National 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 First National'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
DHT-U	0.68	0.10	0.00	1.91	0.00	0.00	2.45	(3.13)	9.82
SGR-U	0.64	0.17	0.03	3.78	1.28	(0.72)	1.55	(1.15)	7.88
ROOT	1.52	(0.29)	0.00	(0.19)	0.00	0.00	3.40	(3.83)	9.81
MRT-UN	1.04	0.07	0.02	0.21	1.24	(1.21)	2.28	(1.72)	8.70
TC	2.50	(0.21)	0.00	(0.20)	0.00	0.00	5.06	(5.97)	14.65
DND	3.01	0.83	0.13	(0.93)	2.44	(7.35)	7.90	(5.44)	54.37
CU-PJ	0.57	0.00	(0.08)	0.12	0.70	(0.66)	1.31	(1.30)	4.75
BOS	1.60	0.50	0.22	1.28	1.37	(1.97)	3.80	(2.31)	11.78
PPL-PA	0.31	0.09	(0.02)	2.49	0.11	(0.37)	0.85	(0.56)	2.16

Be your own money manager

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