Telus Corp Correlations

T Stock

CAD 17.99 0.10 0.55%

The current 90-days correlation between Telus Corp and BCE Inc is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Telus Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Telus Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Telus Corp Correlation With Market

Significant diversification

The correlation between Telus Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telus Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Telus Stock

0.94	POW	Power	Pair Corr
0.9	PTEC	Principal Technologies	Pair Corr
0.87	RY	Royal Bank	Pair Corr
0.87	CM	Canadian Imperial Bank	Pair Corr
0.83	TD-PFI	Toronto Dominion Bank	Pair Corr
0.75	ISRG	Intuitive Surgical CDR	Pair Corr
0.37	BRK	Berkshire Hathaway CDR	Pair Corr
0.36	BNP	BNP Paribas CDR	Pair Corr

Related Correlations Analysis

	BCE	RCI-B	RCI-A	QBR-A	QBR-B	CCA	CGO	TGO
BCE		0.08	0.14	-0.35	-0.38	0.05	-0.09	0.37	BCE
RCI-B	0.08		0.96	0.16	0.2	0.29	0.0	0.25	RCI-B
RCI-A	0.14	0.96		0.07	0.11	0.2	-0.08	0.31	RCI-A
QBR-A	-0.35	0.16	0.07		0.98	0.74	0.83	-0.78	QBR-A
QBR-B	-0.38	0.2	0.11	0.98		0.74	0.83	-0.78	QBR-B
CCA	0.05	0.29	0.2	0.74	0.74		0.91	-0.54	CCA
CGO	-0.09	0.0	-0.08	0.83	0.83	0.91		-0.73	CGO
TGO	0.37	0.25	0.31	-0.78	-0.78	-0.54	-0.73		TGO
	BCE	RCI-B	RCI-A	QBR-A	QBR-B	CCA	CGO	TGO

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

QBR-B	+ 0.98	QBR-A
RCI-A	+ 0.96	RCI-B
CGO	+ 0.91	CCA
CGO	+ 0.83	QBR-A
CGO	+ 0.83	QBR-B
CCA	+ 0.74	QBR-A

High negative correlations

TGO	- 0.78	QBR-B
TGO	- 0.78	QBR-A
TGO	- 0.73	CGO
TGO	- 0.54	CCA
QBR-B	- 0.38	BCE
QBR-A	- 0.35	BCE

Risk-Adjusted Indicators

There is a big difference between Telus Stock performing well and Telus Corp 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 Telus Corp'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
BCE	0.88	0.05	(0.03)	(0.05)	0.99	(0.97)	1.84	(1.37)	6.18
RCI-B	0.92	0.08	0.02	1.30	1.25	(0.87)	1.94	(2.16)	5.79
RCI-A	1.40	0.10	0.02	(0.59)	1.59	(1.54)	2.75	(2.91)	8.66
QBR-A	1.18	0.31	0.16	(1.75)	1.00	(1.47)	4.03	(2.04)	7.97
QBR-B	1.03	0.29	0.18	(11.66)	0.98	(1.26)	2.71	(1.54)	7.14
CCA	0.88	0.08	0.01	1.22	1.56	(0.87)	2.10	(1.38)	10.25
CGO	0.88	0.10	0.04	0.57	1.37	(0.98)	1.76	(1.33)	9.80
TGO	2.90	(0.30)	0.00	(0.23)	0.00	0.00	7.69	(6.15)	18.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in Telus Corp 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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