Pro Real Correlations

PRV-UN Stock

CAD 6.47 0.01 0.15%

The current 90-days correlation between Pro Real Estate and Morguard Real Estate is 0.1 (i.e., Average diversification). The correlation of Pro Real 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.

Pro Real Correlation With Market

Very poor diversification

The correlation between Pro Real Estate and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pro Real Estate and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pro Stock

0.79	IFA	iFabric Corp	Pair Corr
0.68	MU	Micron Technology	Pair Corr
0.69	CJT	Cargojet	Pair Corr
0.68	BN-PFI	Brookfield	Pair Corr
0.61	GIGA	Giga Metals Corp	Pair Corr
0.78	BPF-UN	Boston Pizza Royalties	Pair Corr
0.74	LNR	Linamar Earnings Call This Week	Pair Corr
0.77	RUP	Rupert Resources	Pair Corr
0.64	SLF-PC	Sun Life Financial	Pair Corr
0.85	NXR-UN	Nexus Real Estate Earnings Call This Week	Pair Corr
0.62	AUUA	Aluula Composites	Pair Corr
0.76	PESO	Pesorama	Pair Corr
0.7	GMG	Graphene Manufacturing Earnings Call Today	Pair Corr
0.7	PSLV	Sprott Physical Silver	Pair Corr
0.68	TCL-A	Transcontinental	Pair Corr
0.62	URE	Ur Energy	Pair Corr
0.83	QNC	Quantum eMotion Corp	Pair Corr
0.7	SLF-PJ	Sun Life Financial	Pair Corr
0.79	FTEC	Fintech Select	Pair Corr
0.73	AZT	Aztec Minerals Corp	Pair Corr
0.73	HLF	High Liner Foods	Pair Corr

Related Correlations Analysis

	MRT-UN	BTB-UN	PLZ-UN	FCD-UN	D-UN	APR-UN	MI-UN	WFC	MPC	MRD
MRT-UN		0.74	0.57	0.65	0.72	0.58	0.63	-0.07	-0.16	0.45	MRT-UN
BTB-UN	0.74		0.69	0.88	0.63	0.85	0.89	0.3	-0.57	0.71	BTB-UN
PLZ-UN	0.57	0.69		0.8	0.35	0.88	0.7	0.62	-0.72	0.71	PLZ-UN
FCD-UN	0.65	0.88	0.8		0.51	0.89	0.88	0.47	-0.7	0.77	FCD-UN
D-UN	0.72	0.63	0.35	0.51		0.45	0.65	-0.36	0.1	0.16	D-UN
APR-UN	0.58	0.85	0.88	0.89	0.45		0.88	0.61	-0.74	0.85	APR-UN
MI-UN	0.63	0.89	0.7	0.88	0.65	0.88		0.32	-0.56	0.71	MI-UN
WFC	-0.07	0.3	0.62	0.47	-0.36	0.61	0.32		-0.84	0.69	WFC
MPC	-0.16	-0.57	-0.72	-0.7	0.1	-0.74	-0.56	-0.84		-0.82	MPC
MRD	0.45	0.71	0.71	0.77	0.16	0.85	0.71	0.69	-0.82		MRD
	MRT-UN	BTB-UN	PLZ-UN	FCD-UN	D-UN	APR-UN	MI-UN	WFC	MPC	MRD

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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

MI-UN	+ 0.89	BTB-UN
APR-UN	+ 0.89	FCD-UN
FCD-UN	+ 0.88	BTB-UN
APR-UN	+ 0.88	PLZ-UN
MI-UN	+ 0.88	FCD-UN
MI-UN	+ 0.88	APR-UN

High negative correlations

MPC	- 0.84	WFC
MRD	- 0.82	MPC
MPC	- 0.74	APR-UN
MPC	- 0.72	PLZ-UN
MPC	- 0.7	FCD-UN
MPC	- 0.57	BTB-UN

Risk-Adjusted Indicators

There is a big difference between Pro Stock performing well and Pro Real 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 Pro Real'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
MRT-UN	1.07	0.12	0.06	0.29	1.20	(1.22)	2.25	(1.73)	8.73
BTB-UN	0.62	0.03	(0.03)	0.17	0.89	(0.64)	1.04	(1.29)	4.29
PLZ-UN	0.69	0.15	0.12	1.09	0.46	(0.91)	1.45	(1.16)	4.18
FCD-UN	0.51	0.09	0.00	(0.79)	0.59	(0.60)	1.17	(1.19)	3.26
D-UN	1.24	(0.02)	(0.02)	0.05	1.87	(1.22)	2.70	(2.83)	9.25
APR-UN	0.43	0.13	0.09	2.05	0.25	(0.55)	1.19	(0.75)	3.46
MI-UN	0.94	0.43	0.67	1.10	0.00	(1.18)	1.04	(0.77)	27.62
WFC	1.03	0.29	0.09	(0.80)	0.96	(1.87)	4.22	(2.58)	10.07
MPC	0.50	(0.15)	0.00	(0.90)	0.00	0.00	0.96	(2.65)	7.13
MRD	0.57	0.19	0.24	0.74	0.00	(0.78)	1.81	(0.98)	2.90

Be your own money manager

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