Metro Correlations

MRU Stock

CAD 97.31 0.67 0.69%

The current 90-days correlation between Metro Inc and George Weston Limited is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Metro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Metro Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Metro Correlation With Market

Very good diversification

The correlation between Metro Inc and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metro Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Metro Stock

0.79	TMG	Thermal Energy Inter	Pair Corr
0.71	PWF-PA	Power Financial Corp	Pair Corr
0.68	ACQ	Autocanada	Pair Corr
0.67	ONAU	OnGold Resources	Pair Corr
0.65	MKO	Mako Mining Corp	Pair Corr
0.58	AIM	Aimia Inc	Pair Corr
0.51	BTO	B2Gold Corp Earnings Call This Week	Pair Corr
0.47	BPF-UN	Boston Pizza Royalties	Pair Corr
0.45	PSLV	Sprott Physical Silver	Pair Corr
0.4	QNC	Quantum eMotion Corp	Pair Corr
0.39	NVDA	NVIDIA CDR	Pair Corr
0.39	NVDA	Nvidia CDR	Pair Corr
0.39	MGG	Minaurum Silver	Pair Corr
0.38	BGI-UN	Brookfield Global	Pair Corr
0.37	BTE	Baytex Energy Corp	Pair Corr
0.34	GOOG	Alphabet CDR	Pair Corr
0.34	GOOG	Alphabet CDR	Pair Corr
0.31	TUF	Honey Badger Silver	Pair Corr
0.76	BBB	Brixton Metals	Pair Corr
0.71	DAN	Arianne Phosphate	Pair Corr
0.7	RKR	ROKMASTER Resources Corp	Pair Corr
0.67	IPO	InPlay Oil Corp	Pair Corr
0.64	BCE	BCE Inc	Pair Corr
0.64	FTT	Finning International	Pair Corr
0.62	PGDC	Patagonia Gold Corp	Pair Corr
0.61	CU-PH	Canadian Utilities	Pair Corr
0.61	TVE	Tamarack Valley Energy	Pair Corr
0.57	COLA	Coca Cola	Pair Corr

Related Correlations Analysis

	L	WN	EMP-A	NWC	TPX-B	SAP	PESO	MFI	KPT
L		0.97	-0.1	0.9	0.66	0.71	0.55	0.86	0.6	L
WN	0.97		-0.19	0.88	0.66	0.75	0.56	0.85	0.66	WN
EMP-A	-0.1	-0.19		-0.22	-0.42	-0.7	-0.67	-0.44	-0.44	EMP-A
NWC	0.9	0.88	-0.22		0.78	0.71	0.65	0.83	0.57	NWC
TPX-B	0.66	0.66	-0.42	0.78		0.67	0.67	0.76	0.49	TPX-B
SAP	0.71	0.75	-0.7	0.71	0.67		0.78	0.86	0.76	SAP
PESO	0.55	0.56	-0.67	0.65	0.67	0.78		0.72	0.42	PESO
MFI	0.86	0.85	-0.44	0.83	0.76	0.86	0.72		0.68	MFI
KPT	0.6	0.66	-0.44	0.57	0.49	0.76	0.42	0.68		KPT
	L	WN	EMP-A	NWC	TPX-B	SAP	PESO	MFI	KPT

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

WN	+ 0.97	L
NWC	+ 0.9	L
NWC	+ 0.88	WN
MFI	+ 0.86	L
MFI	+ 0.86	SAP
MFI	+ 0.85	WN

High negative correlations

SAP	- 0.7	EMP-A
PESO	- 0.67	EMP-A
KPT	- 0.44	EMP-A
MFI	- 0.44	EMP-A
TPX-B	- 0.42	EMP-A
NWC	- 0.22	EMP-A

Risk-Adjusted Indicators

There is a big difference between Metro Stock performing well and Metro 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 Metro'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
L	0.99	0.28	0.24	(2.46)	0.56	(1.21)	2.53	(1.40)	5.56
WN	0.85	0.27	0.21	(2.15)	0.58	(0.96)	2.63	(1.49)	5.98
EMP-A	1.16	0.01	(0.03)	0.01	1.92	(1.20)	2.91	(1.74)	12.10
NWC	0.90	0.23	0.13	10.53	1.06	(0.99)	2.43	(1.74)	7.13
TPX-B	1.65	0.18	0.06	0.75	1.75	(2.01)	3.78	(3.15)	8.51
SAP	0.98	0.24	0.13	(0.49)	0.93	(1.08)	2.28	(1.55)	5.40
PESO	3.38	0.43	0.05	(0.75)	4.45	(4.87)	7.69	(7.41)	27.99
MFI	1.02	0.29	0.22	(2.28)	0.77	(1.24)	2.43	(1.68)	5.97
KPT	0.60	0.19	0.24	2.42	0.12	(0.80)	2.09	(0.78)	4.71

Be your own money manager

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