Guardian Capital Correlations

Stocks . Canada . 
Stock . Guardian Capital Group
GCG Stock  CAD 67.32  0.02  0.03%   
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Guardian Capital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian Capital Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Guardian Capital Correlation With Market

Poor diversification

The correlation between Guardian Capital Group and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardian Capital Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guardian Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardian Capital 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 Guardian Capital - 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 Guardian Capital Group to buy it.

Moving together with Guardian Stock

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  0.61QNC Quantum eMotion CorpPairCorr
  0.69ETG Entree ResourcesPairCorr
  0.77MGG Minaurum SilverPairCorr
  0.66BBB Brixton MetalsPairCorr
  0.73PDV Prime Dividend CorpPairCorr
  0.62DOS Dios ExplorationPairCorr
  0.62WPRT Westport Fuel SystemsPairCorr
  0.72PWF-PA Power Financial CorpPairCorr
  0.82FTT Finning InternationalPairCorr
  0.72ENB-PFC Enbridge Pref 11PairCorr
  0.79PGDC Patagonia Gold CorpPairCorr
  0.72TUF Honey Badger SilverPairCorr
  0.72TI Titan Mining CorpPairCorr
  0.82BPF-UN Boston Pizza RoyaltiesPairCorr
  0.79ACQ AutocanadaPairCorr
  0.79EXE ExtendicarePairCorr
  0.75CWEB Charlottes Web HoldingsPairCorr
  0.83MKO Mako Mining CorpPairCorr

Moving against Guardian Stock

  0.75MSFT Microsoft Corp CDRPairCorr
  0.75MSFT Microsoft CDRPairCorr
  0.42AAPL Apple Inc CDRPairCorr
  0.42AAPL Apple CDRPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guardian Stock performing well and Guardian Capital 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 Guardian Capital'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
UNC  1.78  0.26  0.05 (0.42) 2.88 
(2.06)
 9.92 
(6.84)
 20.33 
LB  0.65  0.30  0.69  1.30  0.00 
(0.70)
 0.65 
(0.40)
 18.62 
CYB  1.08  0.16  0.09  0.41  1.14 
(1.24)
 1.97 
(1.94)
 7.25 
AGF-B  1.24  0.47  0.27  2.06  1.04 
(1.39)
 3.08 
(2.35)
 9.55 
CVG  0.52  0.04 (0.02)(0.25) 0.67 
(0.72)
 1.41 
(1.47)
 6.93 
CGI  0.66  0.10  0.07  0.57  0.64 
(0.75)
 1.65 
(1.20)
 4.60 
DFN  0.65  0.14  0.08  0.36  1.00 
(0.75)
 1.49 
(1.17)
 6.73 
SEC  0.60 (0.08) 0.00 (0.09) 0.00 
 0.00 
 0.94 
(3.00)
 10.42 
TSU  1.41  0.37  0.24  5.44  1.00 
(1.81)
 4.16 
(2.16)
 8.37 
CF  1.26  0.02 (0.01) 0.12  1.46 
(1.50)
 2.89 
(2.95)
 9.69 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guardian Capital 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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Guardian Capital Corporate Management

Elected by the shareholders, the Guardian Capital's board of directors comprises two types of representatives: Guardian Capital inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guardian. The board's role is to monitor Guardian Capital's management team and ensure that shareholders' interests are well served. Guardian Capital'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, Guardian Capital's outside directors are responsible for providing unbiased perspectives on the board's policies.
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