Fortis Pref Correlations

FTS-PM Preferred Stock

CAD 21.50 0.01 0.05%

The current 90-days correlation between Fortis Pref M and Amazon CDR is 0.03 (i.e., Significant diversification). The correlation of Fortis Pref 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 Pref Correlation With Market

Significant diversification

The correlation between Fortis Pref M and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortis Pref M and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fortis Pref 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 Pref 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 Pref - 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 Pref M to buy it.

Moving together with Fortis Preferred Stock

0.63	FFH-PF	Fairfax Financial	Pair Corr
0.72	FFH-PJ	Fairfax Financial	Pair Corr
0.68	FFH-PD	Fairfax Financial	Pair Corr
0.72	FFH-PH	Fairfax Financial	Pair Corr
0.75	ENB-PFU	Enbridge Pref L	Pair Corr
0.65	OVT	Oculus VisionTech	Pair Corr
0.62	MARI	Marimaca Copper Corp	Pair Corr
0.72	SBBC	Simply Better Brands	Pair Corr
0.81	HOT-U	American Hotel Income	Pair Corr
0.65	DBO	D Box Technologies	Pair Corr
0.72	FFH-PK	Fairfax Financial	Pair Corr
0.84	XX	Avante Logixx	Pair Corr
0.7	MNRG	Monumental Energy Corp	Pair Corr
0.78	TSAT	Telesat Corp	Pair Corr
0.62	ET	Evertz Technologies	Pair Corr
0.64	WELL	WELL Health Technologies	Pair Corr
0.81	PBY-UN	Canso Credit Trust	Pair Corr

Moving against Fortis Preferred Stock

0.81	HIVE	HIVE Blockchain Tech	Pair Corr
0.6	ELF	E L Financial	Pair Corr
0.51	BRK	Berkshire Hathaway CDR	Pair Corr
0.35	AOT	Ascot Resources	Pair Corr
0.55	CHR	Chorus Aviation	Pair Corr
0.49	GWO	Great West Lifeco	Pair Corr

Related Correlations Analysis

	AMZN	GOOG	AAPL	MSFT	WMT	JPM	BRK	META	XOM	CHEV
AMZN		0.87	0.68	0.62	0.86	0.63	-0.23	0.77	-0.75	-0.04	AMZN
GOOG	0.87		0.58	0.41	0.62	0.44	-0.51	0.72	-0.85	-0.29	GOOG
AAPL	0.68	0.58		0.71	0.69	0.17	-0.26	0.64	-0.77	-0.46	AAPL
MSFT	0.62	0.41	0.71		0.63	0.18	-0.04	0.71	-0.42	-0.15	MSFT
WMT	0.86	0.62	0.69	0.63		0.69	0.01	0.66	-0.63	0.16	WMT
JPM	0.63	0.44	0.17	0.18	0.69		0.42	0.28	-0.2	0.6	JPM
BRK	-0.23	-0.51	-0.26	-0.04	0.01	0.42		-0.37	0.65	0.71	BRK
META	0.77	0.72	0.64	0.71	0.66	0.28	-0.37		-0.68	-0.2	META
XOM	-0.75	-0.85	-0.77	-0.42	-0.63	-0.2	0.65	-0.68		0.55	XOM
CHEV	-0.04	-0.29	-0.46	-0.15	0.16	0.6	0.71	-0.2	0.55		CHEV
	AMZN	GOOG	AAPL	MSFT	WMT	JPM	BRK	META	XOM	CHEV

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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

GOOG	+ 0.87	AMZN
WMT	+ 0.86	AMZN
META	+ 0.77	AMZN
META	+ 0.72	GOOG
MSFT	+ 0.71	AAPL
META	+ 0.71	MSFT

High negative correlations

XOM	- 0.85	GOOG
XOM	- 0.77	AAPL
XOM	- 0.75	AMZN
XOM	- 0.68	META
XOM	- 0.63	WMT
BRK	- 0.51	GOOG

Risk-Adjusted Indicators

There is a big difference between Fortis Preferred Stock performing well and Fortis Pref 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 Pref'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
AMZN	1.43	0.27	0.14	0.33	1.60	(1.52)	2.82	(2.62)	10.70
GOOG	1.38	0.25	0.15	0.62	1.36	(1.51)	3.61	(1.93)	9.26
AAPL	0.89	(0.04)	0.00	(0.13)	0.00	0.00	1.52	(2.37)	6.29
MSFT	0.91	0.03	0.01	0.09	1.59	(0.85)	1.99	(1.81)	7.96
WMT	0.84	0.17	0.16	(2.81)	0.84	(0.95)	2.14	(1.56)	4.98
JPM	1.08	0.22	0.15	0.17	1.19	(1.18)	1.91	(1.98)	16.22
BRK	0.76	(0.01)	(0.01)	0.01	1.00	(0.76)	1.32	(1.81)	7.76
META	1.35	0.06	0.03	0.16	1.54	(1.61)	3.37	(2.82)	7.29
XOM	0.82	(0.11)	0.00	(0.23)	0.00	0.00	1.72	(1.73)	6.17
CHEV	0.94	0.13	0.09	0.34	1.13	(1.01)	1.94	(2.22)	6.07

Be your own money manager

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

Elected by the shareholders, the Fortis Pref's board of directors comprises two types of representatives: Fortis Pref inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fortis. The board's role is to monitor Fortis Pref's management team and ensure that shareholders' interests are well served. Fortis Pref's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Fortis Pref's outside directors are responsible for providing unbiased perspectives on the board's policies.

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