Interfor Corp Correlations

IFP Stock

CAD 11.10 0.36 3.14%

The current 90-days correlation between Interfor Corp and Taiga Building Products is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Interfor Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Interfor Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Interfor Corp Correlation With Market

Very poor diversification

The correlation between Interfor Corp and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Interfor Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Interfor Stock

0.89	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.8	IE	Ivanhoe Energy	Pair Corr
0.92	ORE	Orezone Gold Corp	Pair Corr
0.84	FDY	Faraday Copper Corp	Pair Corr
0.68	GOOG	Alphabet CDR	Pair Corr
0.68	GOOG	Alphabet CDR	Pair Corr
0.61	CITI	CITIGROUP CDR	Pair Corr
0.8	LIRC	Lithium Royalty Corp	Pair Corr
0.82	GPCC-P	Green Panda Capital	Pair Corr
0.66	CRE	Critical Elements	Pair Corr
0.89	BCE-PT	Bce Inc Pref	Pair Corr
0.88	INO-UN	Inovalis Real Estate	Pair Corr
0.78	DNG	Dynacor Gold Mines	Pair Corr
0.74	HSTR	Heliostar Metals	Pair Corr

Moving against Interfor Stock

0.85	MSFT	Microsoft Corp CDR	Pair Corr
0.85	MSFT	Microsoft CDR	Pair Corr
0.51	BRK	Berkshire Hathaway CDR	Pair Corr
0.51	BRK	Berkshire Hathaway CDR	Pair Corr

Related Correlations Analysis

	TBL	GRA	EMO	GOT	REG	FF	FDR	SIG	GOLD	LIRC
TBL		0.54	-0.58	-0.21	0.64	0.62	0.02	-0.51	0.34	0.72	TBL
GRA	0.54		-0.35	0.15	0.57	0.4	0.16	-0.38	0.3	0.73	GRA
EMO	-0.58	-0.35		0.55	-0.62	-0.73	-0.03	0.56	-0.12	-0.71	EMO
GOT	-0.21	0.15	0.55		-0.27	-0.35	0.39	0.5	0.17	-0.22	GOT
REG	0.64	0.57	-0.62	-0.27		0.89	0.05	-0.7	0.75	0.84	REG
FF	0.62	0.4	-0.73	-0.35	0.89		0.18	-0.67	0.64	0.84	FF
FDR	0.02	0.16	-0.03	0.39	0.05	0.18		0.09	0.33	0.11	FDR
SIG	-0.51	-0.38	0.56	0.5	-0.7	-0.67	0.09		-0.37	-0.72	SIG
GOLD	0.34	0.3	-0.12	0.17	0.75	0.64	0.33	-0.37		0.49	GOLD
LIRC	0.72	0.73	-0.71	-0.22	0.84	0.84	0.11	-0.72	0.49		LIRC
	TBL	GRA	EMO	GOT	REG	FF	FDR	SIG	GOLD	LIRC

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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

FF	+ 0.89	REG
LIRC	+ 0.84	REG
LIRC	+ 0.84	FF
GOLD	+ 0.75	REG
LIRC	+ 0.73	GRA
LIRC	+ 0.72	TBL

High negative correlations

FF	- 0.73	EMO
LIRC	- 0.72	SIG
LIRC	- 0.71	EMO
SIG	- 0.7	REG
SIG	- 0.67	FF
REG	- 0.62	EMO

Risk-Adjusted Indicators

There is a big difference between Interfor Stock performing well and Interfor Corp 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 Interfor Corp'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
TBL	1.55	(0.03)	(0.03)	0.01	1.92	(1.91)	2.99	(2.94)	9.23
GRA	1.63	(0.01)	(0.02)	0.05	1.79	(2.39)	4.27	(3.11)	14.15
EMO	5.36	(0.73)	0.00	(0.20)	0.00	0.00	8.33	(7.69)	76.42
GOT	2.98	(0.32)	0.00	(0.36)	0.00	0.00	5.34	(6.67)	19.01
REG	2.52	0.51	0.14	1.40	2.71	(3.14)	6.78	(5.32)	17.87
FF	4.61	0.93	0.18	0.90	4.46	(5.77)	10.17	(7.04)	28.79
FDR	2.75	(0.21)	0.00	(0.03)	0.00	0.00	5.98	(6.22)	16.17
SIG	2.73	(0.30)	0.00	(0.47)	0.00	0.00	5.10	(5.21)	17.39
GOLD	3.57	(0.02)	0.01	0.06	4.81	(4.05)	8.61	(7.96)	28.06
LIRC	2.18	0.76	0.30	1.53	1.84	(2.62)	4.40	(2.76)	31.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Interfor Corp 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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