Strathcona Resources Correlations

SCR Stock

CAD 28.27 0.48 1.73%

The current 90-days correlation between Strathcona Resources and Keyera Corp is 0.04 (i.e., Significant 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

Pay attention - limited upside

The correlation between Strathcona Resources and DJI is -0.81 (i.e., Pay attention - limited upside) 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 together with Strathcona Stock

0.65	EAGR	East Side Games	Pair Corr
0.78	INIK	PopReach	Pair Corr
0.78	GFL	Gfl Environmental	Pair Corr
0.65	QSR	Restaurant Brands	Pair Corr

Moving against Strathcona Stock

0.89	BPF-UN	Boston Pizza Royalties	Pair Corr
0.87	CWEB	Charlottes Web Holdings	Pair Corr
0.85	NICU	Magna Mining	Pair Corr
0.85	CU-PH	Canadian Utilities	Pair Corr
0.81	RBA	Ritchie Bros Auctioneers Earnings Call Tomorrow	Pair Corr
0.78	RKR	ROKMASTER Resources Corp	Pair Corr
0.77	TI	Titan Mining Corp	Pair Corr
0.76	TMG	Thermal Energy Inter	Pair Corr
0.75	FTT	Finning International	Pair Corr
0.72	MS	Morgan Stanley CDR	Pair Corr
0.7	WAST	Waste Management CDR	Pair Corr
0.67	TVE	Tamarack Valley Energy	Pair Corr
0.67	TUF	Honey Badger Silver	Pair Corr
0.63	YES	CHAR Technologies	Pair Corr
0.63	MG	Magna International	Pair Corr
0.63	BTE	Baytex Energy Corp	Pair Corr
0.62	BTO	B2Gold Corp Earnings Call This Week	Pair Corr
0.61	GENM	Generation Mining	Pair Corr
0.56	EXE	Extendicare	Pair Corr
0.47	BBB	Brixton Metals	Pair Corr
0.45	DAN	Arianne Phosphate	Pair Corr
0.87	TRU	Trius Investments	Pair Corr
0.86	PSLV	Sprott Physical Silver	Pair Corr
0.86	BGI-UN	Brookfield Global	Pair Corr
0.86	PGDC	Patagonia Gold Corp	Pair Corr
0.85	MGG	Minaurum Silver	Pair Corr
0.85	QNC	Quantum eMotion Corp	Pair Corr
0.85	ACQ	Autocanada	Pair Corr
0.84	VCI	Vitreous Glass	Pair Corr
0.82	PDV	Prime Dividend Corp	Pair Corr
0.79	MKO	Mako Mining Corp	Pair Corr

Related Correlations Analysis

	KEY	PSK	PEY	NXE	NVA	WCP	BTE	ATH
KEY		0.85	0.88	0.44	0.57	0.91	0.61	0.79	KEY
PSK	0.85		0.95	0.65	0.52	0.92	0.67	0.78	PSK
PEY	0.88	0.95		0.7	0.58	0.95	0.71	0.71	PEY
NXE	0.44	0.65	0.7		0.24	0.62	0.69	0.25	NXE
NVA	0.57	0.52	0.58	0.24		0.58	0.29	0.48	NVA
WCP	0.91	0.92	0.95	0.62	0.58		0.72	0.84	WCP
BTE	0.61	0.67	0.71	0.69	0.29	0.72		0.51	BTE
ATH	0.79	0.78	0.71	0.25	0.48	0.84	0.51		ATH
	KEY	PSK	PEY	NXE	NVA	WCP	BTE	ATH

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	1.14	0.36	0.19	(1.16)	1.21	(1.31)	2.69	(1.91)	7.45
PSK	1.17	0.13	0.07	0.41	1.27	(1.30)	2.62	(2.58)	6.28
PEY	1.55	0.33	0.16	1.58	1.48	(1.79)	3.52	(2.36)	10.43
NXE	2.78	0.43	0.11	1.11	3.17	(2.92)	6.55	(5.46)	18.56
NVA	0.87	0.16	0.09	24.50	0.91	(0.90)	1.94	(1.70)	6.79
WCP	1.30	0.31	0.14	(3.44)	1.46	(1.49)	2.86	(1.99)	8.71
BTE	1.95	0.38	0.12	0.97	2.37	(2.14)	4.54	(4.08)	20.00
ATH	1.83	0.25	0.09	0.79	2.15	(1.95)	4.40	(3.58)	11.96

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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