Fintech Select Correlations

FTEC Stock

CAD 0.07 0.00 0.00%

The current 90-days correlation between Fintech Select and TrustBIX is -0.2 (i.e., Good diversification). The correlation of Fintech Select 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.

Fintech Select Correlation With Market

Poor diversification

The correlation between Fintech Select and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fintech Select and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fintech Stock

0.86	LFE	Canadian Life Companies	Pair Corr
0.76	NXR-UN	Nexus Real Estate Earnings Call This Week	Pair Corr
0.65	TUF	Honey Badger Silver	Pair Corr
0.79	GIGA	Giga Metals Corp	Pair Corr
0.71	MOLY	Greenland Resources	Pair Corr
0.76	PESO	Pesorama	Pair Corr
0.67	MFC-PP	Manulife Financial Corp	Pair Corr
0.81	TF	Timbercreek Financial	Pair Corr
0.73	IVN	Ivanhoe Mines	Pair Corr
0.68	QNC	Quantum eMotion Corp	Pair Corr
0.83	GMG	Graphene Manufacturing	Pair Corr
0.8	HLF	High Liner Foods	Pair Corr
0.86	MU	Micron Technology	Pair Corr
0.75	BN-PC	Brookfield	Pair Corr
0.81	RUP	Rupert Resources	Pair Corr
0.7	NSE	New Stratus Energy	Pair Corr
0.62	TOT	Total Energy Services Earnings Call This Week	Pair Corr
0.67	ENB-PFC	Enbridge Pref 11	Pair Corr
0.83	PSLV	Sprott Physical Silver	Pair Corr
0.84	ISO	IsoEnergy	Pair Corr

Moving against Fintech Stock

0.73	MKZ-UN	Mackenzie Mstr Un	Pair Corr
0.53	MCM-A	Matachewan Consolidated Split	Pair Corr

Related Correlations Analysis

	TBIX	NVI	DM	ROI	BWLK
TBIX		-0.33	0.0	-0.27	-0.49	TBIX
NVI	-0.33		0.35	0.39	0.31	NVI
DM	0.0	0.35		0.26	-0.28	DM
ROI	-0.27	0.39	0.26		0.11	ROI
BWLK	-0.49	0.31	-0.28	0.11		BWLK
	TBIX	NVI	DM	ROI	BWLK

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

ROI	+ 0.39	NVI
DM	+ 0.35	NVI
BWLK	+ 0.31	NVI
ROI	+ 0.26	DM
BWLK	+ 0.11	ROI
DM	+ 0.0	TBIX

High negative correlations

BWLK	- 0.49	TBIX
NVI	- 0.33	TBIX
BWLK	- 0.28	DM
ROI	- 0.27	TBIX
DM	- 0.0	TBIX

Risk-Adjusted Indicators

There is a big difference between Fintech Stock performing well and Fintech Select 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 Fintech Select'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
TBIX	5.90	0.69	0.02	0.51	8.31	(28.57)	25.00	(20.00)	65.00
NVI	5.26	1.42	0.13	(1.29)	4.39	(13.79)	16.67	(7.69)	52.14
DM	6.28	(0.28)	0.00	(0.23)	0.00	0.00	11.76	(13.64)	51.14
ROI	6.03	0.25	0.02	0.10	7.92	(14.61)	16.67	(14.29)	50.00
BWLK	3.26	0.56	0.05	0.37	3.70	(15.99)	14.29	(11.11)	36.11

Be your own money manager

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