Canadian Large Correlations

NPS Stock

CAD 15.40 0.40 2.67%

The current 90-days correlation between Canadian Large Cap and Citadel Income is -0.24 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Large moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Large Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Canadian Large Correlation With Market

Very weak diversification

The correlation between Canadian Large Cap and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Large Cap and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Canadian Large 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 Large 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 Large - 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 Large Cap to buy it.

Moving together with Canadian Stock

0.64

HWX

Headwater Exploration

Pair Corr

Moving against Canadian Stock

0.65	NFLX	Netflix Inc CDR	Pair Corr
0.57	MSFT	Microsoft Corp CDR	Pair Corr
0.57	MSFT	Microsoft CDR	Pair Corr
0.52	DGX	Digi Power X	Pair Corr
0.31	VYC-H	Vanity Capital	Pair Corr

Related Correlations Analysis

	MDS-UN	CTF-UN	YCM	ENI-UN
MDS-UN		0.24	0.3	0.27	MDS-UN
CTF-UN	0.24		0.83	0.65	CTF-UN
YCM	0.3	0.83		0.59	YCM
ENI-UN	0.27	0.65	0.59		ENI-UN
	MDS-UN	CTF-UN	YCM	ENI-UN

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian Large 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 Large'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
MDS-UN	1.48	0.00	(0.03)	0.10	1.84	(2.00)	3.98	(2.63)	13.66
CTF-UN	1.57	0.23	0.04	(1.34)	2.15	(2.07)	3.28	(2.61)	24.02
YCM	0.98	0.31	0.06	2.17	1.01	(3.02)	3.95	(1.33)	17.10
ENI-UN	2.39	0.46	0.08	1.50	2.79	(3.93)	6.74	(5.91)	32.59

Be your own money manager

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