Strathcona Resources Correlations

SCR Stock

CAD 29.03 0.48 1.68%

The current 90-days correlation between Strathcona Resources and Keyera Corp is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strathcona Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strathcona Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strathcona Resources Correlation With Market

Good diversification

The correlation between Strathcona Resources and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strathcona Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Strathcona Stock

0.53	MSFT	Microsoft CDR	Pair Corr
0.53	MSFT	Microsoft Corp CDR	Pair Corr
0.44	EAGR	East Side Games	Pair Corr
0.42	BRAG	Bragg Gaming Group	Pair Corr
0.33	NVDA	Nvidia CDR	Pair Corr
0.47	PEX	Pacific Ridge Exploration	Pair Corr
0.43	PGDC	Patagonia Gold Corp	Pair Corr
0.54	GWM	Galway Metals	Pair Corr
0.34	LIO	Lion One Metals	Pair Corr

Related Correlations Analysis

	KEY	PSK	PEY	NXE	NVA	WCP	BTE	ATH
KEY		0.33	-0.11	0.12	0.0	0.4	0.21	0.11	KEY
PSK	0.33		0.81	-0.05	0.86	0.89	0.84	0.72	PSK
PEY	-0.11	0.81		-0.04	0.88	0.81	0.85	0.74	PEY
NXE	0.12	-0.05	-0.04		-0.12	0.0	-0.19	-0.07	NXE
NVA	0.0	0.86	0.88	-0.12		0.85	0.87	0.88	NVA
WCP	0.4	0.89	0.81	0.0	0.85		0.92	0.8	WCP
BTE	0.21	0.84	0.85	-0.19	0.87	0.92		0.79	BTE
ATH	0.11	0.72	0.74	-0.07	0.88	0.8	0.79		ATH
	KEY	PSK	PEY	NXE	NVA	WCP	BTE	ATH

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

BTE	+ 0.92	WCP
WCP	+ 0.89	PSK
NVA	+ 0.88	PEY
ATH	+ 0.88	NVA
BTE	+ 0.87	NVA
NVA	+ 0.86	PSK

High negative correlations

BTE	- 0.19	NXE
NVA	- 0.12	NXE
PEY	- 0.11	KEY
ATH	- 0.07	NXE
NXE	- 0.05	PSK
NXE	- 0.04	PEY

Risk-Adjusted Indicators

There is a big difference between Strathcona Stock performing well and Strathcona Resources 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 Strathcona Resources' 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
KEY	0.93	(0.07)	0.00	(13.21)	0.00	0.00	1.48	(2.14)	6.68
PSK	1.03	0.04	0.00	0.19	1.20	(1.08)	2.63	(2.02)	5.64
PEY	1.54	0.35	0.15	(21.48)	1.57	(1.76)	3.84	(2.71)	10.48
NXE	2.90	0.01	0.02	0.08	3.46	(3.04)	6.55	(6.31)	18.34
NVA	1.01	0.13	0.04	6.49	1.35	(0.93)	2.10	(2.23)	6.79
WCP	1.08	0.08	0.00	(0.59)	1.36	(1.13)	2.05	(2.01)	8.65
BTE	2.27	0.48	0.12	(0.45)	2.53	(2.55)	4.58	(3.86)	17.79
ATH	1.54	0.10	0.00	(0.16)	2.04	(1.57)	2.94	(3.28)	9.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in Strathcona Resources 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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Strathcona Resources Corporate Management

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

John Rooney	Advisor	Profile
Larry Pewar	Vice Development	Profile
Scott Seipert	Senior Finance	Profile
Olga Kary	Corporate Secretary	Profile

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