Fortis Correlations

FORFF Stock

USD 17.34 0.00 0.00%

The current 90-days correlation between Fortis Inc and Ameren Corp is -0.21 (i.e., Very good diversification). The correlation of Fortis 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.

Fortis Correlation With Market

Poor diversification

The correlation between Fortis Inc and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortis Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fortis Pink Sheet

0.69	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.71	SAR	Saratoga Investment Corp	Pair Corr
0.66	ACN	Accenture plc	Pair Corr
0.66	VLKAF	Volkswagen AG	Pair Corr
0.64	VWAGY	Volkswagen AG 110	Pair Corr
0.69	VLKPF	Volkswagen AG VZO	Pair Corr
0.78	FIBK	First Interstate Ban Normal Trading	Pair Corr
0.73	BNKHF	BOC Hong Kong	Pair Corr
0.63	ONTF	ON24 Inc	Pair Corr
0.61	FCAP	First Capital Downward Rally	Pair Corr

Moving against Fortis Pink Sheet

0.79	XEL	Xcel Energy Sell-off Trend	Pair Corr
0.75	EXC	Exelon Earnings Call This Week	Pair Corr
0.72	AEP	American Electric Power	Pair Corr
0.66	DUK	Duke Energy	Pair Corr
0.51	SO	Southern Earnings Call This Week	Pair Corr
0.47	HNHPF	Hon Hai Precision	Pair Corr
0.35	D	Dominion Energy Sell-off Trend	Pair Corr
0.35	JD	JD Inc Adr	Pair Corr
0.61	BROGF	BROGF	Pair Corr
0.5	31428XBE5	FEDEX P 475	Pair Corr
0.35	ALL	Allstate Earnings Call This Week	Pair Corr
0.61	POFCY	Petrofac ADR	Pair Corr

Related Correlations Analysis

	HPIFF	EQUEY	UEPCN	HPIFY	AEE	IESFY	HKVTY	FTRSF
HPIFF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HPIFF
EQUEY	0.0		-0.23	0.13	0.24	0.51	0.0	0.14	EQUEY
UEPCN	0.0	-0.23		-0.7	-0.59	0.01	0.0	0.1	UEPCN
HPIFY	0.0	0.13	-0.7		0.7	-0.1	0.0	-0.31	HPIFY
AEE	0.0	0.24	-0.59	0.7		0.36	0.0	0.05	AEE
IESFY	0.0	0.51	0.01	-0.1	0.36		0.0	0.46	IESFY
HKVTY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HKVTY
FTRSF	0.0	0.14	0.1	-0.31	0.05	0.46	0.0		FTRSF
	HPIFF	EQUEY	UEPCN	HPIFY	AEE	IESFY	HKVTY	FTRSF

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

AEE	+ 0.7	HPIFY
IESFY	+ 0.51	EQUEY
FTRSF	+ 0.46	IESFY
IESFY	+ 0.36	AEE
AEE	+ 0.24	EQUEY
FTRSF	+ 0.14	EQUEY

High negative correlations

HPIFY	- 0.7	UEPCN
AEE	- 0.59	UEPCN
FTRSF	- 0.31	HPIFY
UEPCN	- 0.23	EQUEY
IESFY	- 0.1	HPIFY
FTRSF	- 0.0	HKVTY

Risk-Adjusted Indicators

There is a big difference between Fortis Pink Sheet performing well and Fortis 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 Fortis' 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
HPIFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EQUEY	1.72	0.23	0.02	0.80	2.59	(4.08)	5.00	(5.56)	23.84
UEPCN	0.28	(0.06)	0.00	(0.12)	0.00	0.00	1.26	(0.24)	6.07
HPIFY	0.86	0.11	0.00	0.36	0.00	0.00	1.95	0.00	23.23
AEE	0.71	0.04	(0.02)	0.36	0.95	(0.68)	1.23	(1.45)	5.74
IESFY	3.65	0.52	0.06	1.75	4.86	(4.65)	12.71	(10.09)	29.54
HKVTY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FTRSF	0.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.41

Be your own money manager

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