Sentry Select Correlations

Stocks . Canada . 
Stock . Sentry Select Primary
PME Stock  CAD 6.01  0.13  2.21%   
The current 90-days correlation between Sentry Select Primary and Minnova Corp is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sentry Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sentry Select Primary moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sentry Select Correlation With Market

Poor diversification

The correlation between Sentry Select Primary and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sentry Select Primary and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Sentry Select could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sentry Select 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 Sentry Select - 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 Sentry Select Primary to buy it.

Moving together with Sentry Stock

  0.97AG First Majestic SilverPairCorr
  0.94ORE Orezone Gold CorpPairCorr
  0.89FDY Faraday Copper Corp Earnings Call This WeekPairCorr
  0.82BBD-B BombardierPairCorr
  0.63ENB EnbridgePairCorr
  0.88BCE BCE IncPairCorr
  0.65WN George Weston LimitedPairCorr
  0.82TRP TC Energy CorpPairCorr
  0.9MGA Mega UraniumPairCorr
  0.9SU Suncor EnergyPairCorr
  0.91LNR LinamarPairCorr
  0.76SLF-PJ Sun Life FinancialPairCorr
  0.73OYL CGX EnergyPairCorr
  0.79PSLV Sprott Physical SilverPairCorr
  0.78NIM Nicola MiningPairCorr
  0.87CJT CargojetPairCorr
  0.71FTEC Fintech SelectPairCorr
  0.94ATX ATEX ResourcesPairCorr
  0.65GIG XAU ResourcesPairCorr
  0.83NAR North Arrow MineralsPairCorr
  0.91HLF High Liner FoodsPairCorr
  0.92BPF-UN Boston Pizza RoyaltiesPairCorr
  0.92MU Micron TechnologyPairCorr
  0.85PESO PesoramaPairCorr
  0.9TUO Teuton Resources CorpPairCorr
  0.83BN-PC BrookfieldPairCorr
  0.69GKO Geekco Technologies CorpPairCorr

Moving against Sentry Stock

  0.66X TMX Group LimitedPairCorr
  0.46ONEX Onex CorpPairCorr

Related Correlations Analysis


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

ONAU
+ 0.83
MCI
KG
+ 0.8
MCI
ONAU
+ 0.77
KG
KG
+ 0.68
DLTA
MCI
+ 0.68
OCI
MCI
+ 0.67
DLTA
  

High negative correlations

ONAU
- 0.13
GMV
KG
- 0.06
GMV

Risk-Adjusted Indicators

There is a big difference between Sentry Stock performing well and Sentry Select 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 Sentry Select'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sentry Select 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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Sentry Select Corporate Executives

Elected by the shareholders, the Sentry Select's board of directors comprises two types of representatives: Sentry Select inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sentry. The board's role is to monitor Sentry Select's management team and ensure that shareholders' interests are well served. Sentry Select's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sentry Select's outside directors are responsible for providing unbiased perspectives on the board's policies.
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