Finning International Correlations

FTT Stock

CAD 77.24 1.98 2.63%

The current 90-days correlation between Finning International and Bombardier Pref B is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Finning International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Finning International moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Finning International Correlation With Market

Average diversification

The correlation between Finning International and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Finning International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Finning Stock

0.74

ISRG

Intuitive Surgical CDR

Pair Corr

Moving against Finning Stock

0.43	BTO	B2Gold Corp	Pair Corr
0.41	T	Telus Corp	Pair Corr

Related Correlations Analysis

	BBD-PB	SOBO	GRGD	TFII	TIH	WJX	RUS	BBD-B	CAE	ADEN
BBD-PB		0.6	0.43	0.37	0.24	0.54	0.22	0.6	0.09	-0.46	BBD-PB
SOBO	0.6		0.2	0.22	0.08	0.36	0.08	0.53	0.13	-0.4	SOBO
GRGD	0.43	0.2		0.56	0.48	0.64	0.78	0.74	0.4	-0.08	GRGD
TFII	0.37	0.22	0.56		0.54	0.2	0.7	0.36	0.72	0.21	TFII
TIH	0.24	0.08	0.48	0.54		0.46	0.46	0.49	0.36	0.15	TIH
WJX	0.54	0.36	0.64	0.2	0.46		0.29	0.84	-0.03	-0.43	WJX
RUS	0.22	0.08	0.78	0.7	0.46	0.29		0.42	0.75	0.3	RUS
BBD-B	0.6	0.53	0.74	0.36	0.49	0.84	0.42		0.14	-0.28	BBD-B
CAE	0.09	0.13	0.4	0.72	0.36	-0.03	0.75	0.14		0.57	CAE
ADEN	-0.46	-0.4	-0.08	0.21	0.15	-0.43	0.3	-0.28	0.57		ADEN
	BBD-PB	SOBO	GRGD	TFII	TIH	WJX	RUS	BBD-B	CAE	ADEN

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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

BBD-B	+ 0.84	WJX
RUS	+ 0.78	GRGD
CAE	+ 0.75	RUS
BBD-B	+ 0.74	GRGD
CAE	+ 0.72	TFII
RUS	+ 0.7	TFII

High negative correlations

ADEN	- 0.46	BBD-PB
ADEN	- 0.43	WJX
ADEN	- 0.4	SOBO
ADEN	- 0.28	BBD-B
ADEN	- 0.08	GRGD
CAE	- 0.03	WJX

Risk-Adjusted Indicators

There is a big difference between Finning Stock performing well and Finning International 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 Finning International'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
BBD-PB	0.39	0.02	(0.12)	(0.01)	0.48	(0.51)	0.85	(0.84)	2.37
SOBO	1.03	(0.05)	0.00	0.18	0.00	0.00	1.51	(2.41)	8.27
GRGD	2.40	0.44	0.15	0.33	2.78	(2.54)	6.97	(5.27)	14.51
TFII	1.83	0.28	0.11	0.62	1.95	(2.04)	3.66	(3.32)	11.93
TIH	1.14	0.09	0.02	0.38	1.53	(1.16)	2.14	(2.00)	12.66
WJX	1.13	0.20	0.12	0.43	1.12	(1.21)	2.08	(2.35)	10.71
RUS	0.88	0.06	0.02	0.18	1.34	(0.86)	1.82	(1.52)	7.06
BBD-B	1.93	0.34	0.11	0.55	2.48	(1.98)	4.19	(4.35)	12.41
CAE	1.23	0.05	0.02	0.14	1.33	(1.37)	2.63	(2.28)	7.36
ADEN	1.35	(0.10)	0.00	(0.05)	0.00	0.00	3.02	(2.65)	9.94

Be your own money manager

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