Canadian Life Correlations

LFE-PB Preferred Stock

CAD 10.85 0.02 0.18%

The current 90-days correlation between Canadian Life Companies and Nicola Mining is 0.02 (i.e., Significant diversification). The correlation of Canadian Life is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Canadian Life Correlation With Market

Significant diversification

The correlation between Canadian Life Companies and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Life Companies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Canadian Preferred Stock

0.62	FFH-PH	Fairfax Financial	Pair Corr
0.66	FFH-PM	Fairfax Financial	Pair Corr
0.61	FFH-PJ	Fairfax Financial	Pair Corr
0.61	FFH-PG	Fairfax Fin Hld	Pair Corr
0.62	FFH-PI	Fairfax Financial	Pair Corr
0.7	VLE	Valeura Energy	Pair Corr
0.72	CIX	CI Financial Corp	Pair Corr
0.61	LB	Laurentian Bank	Pair Corr
0.78	AMZN	Amazon CDR Earnings Call Tomorrow	Pair Corr
0.81	SRES	Sun Residential Real Earnings Call This Week	Pair Corr
0.61	ROI	Route1 Inc	Pair Corr
0.87	ROOF	Northstar Clean Tech	Pair Corr
0.78	RY-PJ	Royal Bank	Pair Corr
0.68	TCW	Trican Well Service	Pair Corr

Moving against Canadian Preferred Stock

0.31

ABXX

Abaxx Technologies

Pair Corr

Related Correlations Analysis

	NIM	RAMP	BDT	DIR-UN	XXIX	BMM	CNJ-P	MKO
NIM		0.08	-0.31	-0.1	0.42	0.13	0.0	0.11	NIM
RAMP	0.08		-0.73	-0.54	-0.32	0.89	0.0	0.71	RAMP
BDT	-0.31	-0.73		0.78	0.26	-0.75	0.0	-0.42	BDT
DIR-UN	-0.1	-0.54	0.78		0.4	-0.57	0.0	-0.22	DIR-UN
XXIX	0.42	-0.32	0.26	0.4		-0.28	0.0	-0.11	XXIX
BMM	0.13	0.89	-0.75	-0.57	-0.28		0.0	0.66	BMM
CNJ-P	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CNJ-P
MKO	0.11	0.71	-0.42	-0.22	-0.11	0.66	0.0		MKO
	NIM	RAMP	BDT	DIR-UN	XXIX	BMM	CNJ-P	MKO

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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

BMM	+ 0.89	RAMP
DIR-UN	+ 0.78	BDT
MKO	+ 0.71	RAMP
MKO	+ 0.66	BMM
XXIX	+ 0.42	NIM
XXIX	+ 0.4	DIR-UN

High negative correlations

BMM	- 0.75	BDT
BDT	- 0.73	RAMP
BMM	- 0.57	DIR-UN
DIR-UN	- 0.54	RAMP
MKO	- 0.42	BDT
XXIX	- 0.32	RAMP

Risk-Adjusted Indicators

There is a big difference between Canadian Preferred Stock performing well and Canadian Life 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 Canadian Life'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
NIM	2.76	0.23	0.00	(0.05)	3.31	(6.18)	10.34	(6.67)	26.79
RAMP	3.34	0.53	0.15	0.96	2.74	(4.99)	8.57	(5.26)	18.93
BDT	1.90	(0.27)	0.00	0.91	0.00	0.00	3.51	(6.77)	12.09
DIR-UN	0.87	(0.22)	0.00	(0.49)	0.00	0.00	1.68	(2.42)	4.92
XXIX	2.04	(0.15)	0.00	0.49	0.00	0.00	8.33	(7.69)	25.00
BMM	3.40	0.27	0.05	0.36	3.81	(5.97)	11.11	(6.12)	40.04
CNJ-P	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MKO	2.23	0.32	0.11	(3.57)	1.95	(3.06)	6.23	(3.35)	16.92

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canadian Life 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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