Laurentian Bank Correlations
| LB Stock | CAD 29.18 0.01 0.03% |
The current 90-days correlation between Laurentian Bank and Canadian Western Bank is -0.21 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Laurentian Bank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Laurentian Bank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Laurentian Bank Correlation With Market
Modest diversification
The correlation between Laurentian Bank and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Laurentian Bank and DJI in the same portfolio, assuming nothing else is changed.
Laurentian |
The ability to find closely correlated positions to Laurentian Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Laurentian Bank 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 Laurentian Bank - 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 Laurentian Bank to buy it.
Moving together with Laurentian Stock
| 0.74 | IVS | Inventus Mining Corp | PairCorr |
| 0.74 | KUT | Redishred Capital Corp | PairCorr |
| 0.86 | PYPL | PayPal Holdings CDR | PairCorr |
| 0.87 | FFH-PK | Fairfax Financial | PairCorr |
| 0.82 | TCS | TECSYS Inc | PairCorr |
| 0.77 | AIDX | HealWELL AI | PairCorr |
| 0.77 | PBY-UN | Canso Credit Trust | PairCorr |
| 0.72 | E | Enterprise Group | PairCorr |
| 0.87 | SBBC | Simply Better Brands | PairCorr |
| 0.84 | WNDR | WonderFi Technologies | PairCorr |
| 0.78 | ATD | Alimentation Couchen Tard | PairCorr |
| 0.62 | MOLY | Greenland Resources | PairCorr |
| 0.79 | ENS | E Split Corp | PairCorr |
| 0.78 | ET | Evertz Technologies | PairCorr |
| 0.8 | CRM | SalesforceCom CDR | PairCorr |
| 0.62 | TSAT | Telesat Corp | PairCorr |
| 0.78 | DBO | D Box Technologies | PairCorr |
| 0.87 | WELL | WELL Health Technologies | PairCorr |
Moving against Laurentian Stock
| 0.66 | HPQ | HPQ Silicon Resources | PairCorr |
| 0.54 | DFR | Diamond Fields Resources | PairCorr |
| 0.47 | AOT | Ascot Resources | PairCorr |
| 0.33 | EBM | Eastwood Bio Medical | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Laurentian Stock performing well and Laurentian Bank 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 Laurentian Bank'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CWB | 0.81 | 0.11 | 0.08 | 0.53 | 1.23 | 1.63 | 7.04 | |||
| NA | 0.54 | 0.02 | 0.02 | 0.14 | 0.91 | 1.14 | 5.00 | |||
| CM | 0.59 | 0.12 | 0.16 | 1.11 | 0.57 | 1.19 | 6.58 | |||
| GWO | 0.68 | 0.01 | 0.01 | 0.11 | 1.02 | 1.20 | 5.46 | |||
| POW | 0.67 | (0.02) | 0.00 | (0.08) | 0.00 | 1.35 | 6.29 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Laurentian Bank 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.Did you try this?
Run Earnings Calls Now
Earnings CallsCheck upcoming earnings announcements updated hourly across public exchanges |
| All Next | Launch Module |