NFI Correlations

NFI Stock

CAD 17.88 0.65 3.77%

The current 90-days correlation between NFI Group and Canada Goose Holdings is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NFI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NFI Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NFI Correlation With Market

Very poor diversification

The correlation between NFI Group and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NFI Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NFI Stock

0.62	GOOG	Alphabet CDR	Pair Corr
0.62	GOOG	Alphabet CDR	Pair Corr
0.85	VCI	Vitreous Glass	Pair Corr
0.73	BTO	B2Gold Corp Earnings Call This Week	Pair Corr
0.92	ACQ	Autocanada	Pair Corr
0.84	URE	Ur Energy	Pair Corr
0.69	LOVE	Cannara Biotech	Pair Corr
0.85	CU	Canadian Utilities	Pair Corr
0.93	CWEB	Charlottes Web Holdings	Pair Corr
0.71	BTE	Baytex Energy Corp	Pair Corr
0.66	IPO	InPlay Oil Corp	Pair Corr
0.82	PDV	Prime Dividend Corp	Pair Corr
0.74	PPL-PFE	Pembina Pipeline Corp	Pair Corr
0.68	NAR	North Arrow Minerals	Pair Corr
0.81	WAST	Waste Management CDR	Pair Corr
0.61	GENM	Generation Mining	Pair Corr
0.95	BPF-UN	Boston Pizza Royalties	Pair Corr
0.9	LCS	Brompton Lifeco Split Split	Pair Corr
0.65	WPRT	Westport Fuel Systems	Pair Corr
0.71	SBI	Serabi Gold PLC	Pair Corr
0.89	AZS	Arizona Gold Silver	Pair Corr
0.8	TVE	Tamarack Valley Energy	Pair Corr
0.85	QNC	Quantum eMotion Corp	Pair Corr
0.84	PSLV	Sprott Physical Silver	Pair Corr

Moving against NFI Stock

0.75	MSFT	Microsoft Corp CDR	Pair Corr
0.75	MSFT	Microsoft CDR	Pair Corr
0.6	BRK	Berkshire Hathaway CDR	Pair Corr
0.6	BRK	Berkshire Hathaway CDR	Pair Corr
0.35	EBM	Eastwood Bio Medical	Pair Corr

Related Correlations Analysis

	GOOS	LNF	TOY	RCH	FHYD	MRE	PET	WPK
GOOS		0.32	0.48	-0.51	0.37	0.25	-0.11	-0.47	GOOS
LNF	0.32		0.26	0.06	0.1	0.28	0.31	-0.09	LNF
TOY	0.48	0.26		-0.31	0.03	0.08	-0.09	-0.03	TOY
RCH	-0.51	0.06	-0.31		-0.63	0.13	0.15	0.77	RCH
FHYD	0.37	0.1	0.03	-0.63		-0.05	0.3	-0.61	FHYD
MRE	0.25	0.28	0.08	0.13	-0.05		0.2	0.34	MRE
PET	-0.11	0.31	-0.09	0.15	0.3	0.2		0.11	PET
WPK	-0.47	-0.09	-0.03	0.77	-0.61	0.34	0.11		WPK
	GOOS	LNF	TOY	RCH	FHYD	MRE	PET	WPK

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

WPK	+ 0.77	RCH
TOY	+ 0.48	GOOS
FHYD	+ 0.37	GOOS
WPK	+ 0.34	MRE
LNF	+ 0.32	GOOS
PET	+ 0.31	LNF

High negative correlations

FHYD	- 0.63	RCH
WPK	- 0.61	FHYD
RCH	- 0.51	GOOS
WPK	- 0.47	GOOS
RCH	- 0.31	TOY
PET	- 0.11	GOOS

Risk-Adjusted Indicators

There is a big difference between NFI Stock performing well and NFI 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 NFI'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
GOOS	2.26	(0.16)	0.00	(0.06)	0.00	0.00	4.68	(4.83)	24.28
LNF	0.92	(0.07)	0.00	(0.10)	0.00	0.00	1.80	(2.12)	9.71
TOY	1.44	(0.09)	0.00	(0.05)	0.00	0.00	2.93	(2.93)	8.23
RCH	0.85	0.25	0.21	0.93	0.56	(0.93)	2.60	(1.44)	4.98
FHYD	3.65	(0.45)	0.00	(0.29)	0.00	0.00	7.69	(7.89)	26.79
MRE	1.19	0.06	0.00	0.59	1.39	(1.39)	2.70	(2.12)	8.42
PET	1.11	(0.02)	(0.05)	0.00	1.21	(1.32)	2.67	(2.14)	7.34
WPK	0.93	0.21	0.21	0.86	0.54	(1.15)	2.47	(1.36)	3.90

Be your own money manager

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