Intact Financial Correlations

IFC Stock

CAD 285.18 0.55 0.19%

The current 90-days correlation between Intact Financial and Fairfax Financial Holdings is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Intact Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Intact Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Intact Financial Correlation With Market

Average diversification

The correlation between Intact Financial and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intact Financial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Intact Stock

0.7	CG	Centerra Gold	Pair Corr
0.85	POW	Power	Pair Corr
0.79	PTEC	Principal Technologies	Pair Corr
0.65	ELD	Eldorado Gold Corp	Pair Corr
0.75	ISRG	Intuitive Surgical CDR	Pair Corr

Moving against Intact Stock

0.62	PNC-B	Postmedia Network Canada	Pair Corr
0.45	GFL	Gfl Environmental	Pair Corr

Related Correlations Analysis

	FFH	SLF	GWO	TD-PFJ	POW	MFC	DFY	NA
FFH		0.3	0.51	0.32	0.32	0.41	0.81	0.44	FFH
SLF	0.3		-0.07	-0.2	-0.2	-0.16	-0.09	-0.17	SLF
GWO	0.51	-0.07		0.87	0.96	0.96	0.78	0.97	GWO
TD-PFJ	0.32	-0.2	0.87		0.87	0.85	0.66	0.9	TD-PFJ
POW	0.32	-0.2	0.96	0.87		0.98	0.67	0.96	POW
MFC	0.41	-0.16	0.96	0.85	0.98		0.72	0.96	MFC
DFY	0.81	-0.09	0.78	0.66	0.67	0.72		0.73	DFY
NA	0.44	-0.17	0.97	0.9	0.96	0.96	0.73		NA
	FFH	SLF	GWO	TD-PFJ	POW	MFC	DFY	NA

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

MFC	+ 0.98	POW
NA	+ 0.97	GWO
POW	+ 0.96	GWO
MFC	+ 0.96	GWO
NA	+ 0.96	POW
NA	+ 0.96	MFC

High negative correlations

POW	- 0.2	SLF
TD-PFJ	- 0.2	SLF
NA	- 0.17	SLF
MFC	- 0.16	SLF
DFY	- 0.09	SLF
GWO	- 0.07	SLF

Risk-Adjusted Indicators

There is a big difference between Intact Stock performing well and Intact Financial 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 Intact Financial'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
FFH	1.01	0.13	0.06	(24.36)	1.17	(1.21)	2.33	(2.87)	5.98
SLF	0.76	0.07	0.02	0.32	1.07	(0.80)	1.48	(1.55)	6.03
GWO	0.58	0.32	0.33	9.41	0.07	(0.70)	1.63	(1.22)	4.25
TD-PFJ	0.36	0.05	0.00	1.58	0.38	(0.37)	0.76	(0.77)	2.22
POW	0.74	0.35	0.32	1.48	0.45	(0.87)	1.77	(1.53)	4.08
MFC	0.76	0.21	0.23	0.52	0.47	(0.88)	1.81	(1.11)	4.26
DFY	0.89	0.11	0.06	0.79	0.93	(0.94)	2.18	(1.52)	5.05
NA	0.61	0.19	0.25	0.47	0.33	(0.74)	1.42	(1.00)	3.38

Be your own money manager

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