Transat AT Correlations

TRZ Stock

CAD 2.62 0.01 0.38%

The current 90-days correlation between Transat AT and Reitmans Canada is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Transat AT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Transat AT moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Transat AT Correlation With Market

Very poor diversification

The correlation between Transat AT and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transat AT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Transat Stock

0.77	PJX	PJX Resources	Pair Corr
0.75	ROCK	Rockridge Resources	Pair Corr
0.68	NA-PG	National Bank	Pair Corr
0.77	CS	Capstone Mining Corp	Pair Corr

Moving against Transat Stock

0.82	CMC	Cielo Waste Solutions	Pair Corr
0.54	NZP	Chatham Rock Phosphate	Pair Corr

Related Correlations Analysis

	RET	RET-A	SXP	DII-B	ROOT	WPRT	MENE	IFX	ICE	IFA
RET		0.43	0.55	0.32	-0.19	0.22	-0.31	0.37	-0.12	0.58	RET
RET-A	0.43		0.18	0.07	-0.06	0.02	-0.32	0.2	-0.36	0.39	RET-A
SXP	0.55	0.18		0.74	-0.13	0.58	-0.16	0.68	0.38	0.71	SXP
DII-B	0.32	0.07	0.74		-0.03	0.61	0.18	0.54	0.53	0.51	DII-B
ROOT	-0.19	-0.06	-0.13	-0.03		-0.07	0.15	-0.58	0.24	-0.57	ROOT
WPRT	0.22	0.02	0.58	0.61	-0.07		0.18	0.36	0.51	0.34	WPRT
MENE	-0.31	-0.32	-0.16	0.18	0.15	0.18		-0.15	0.34	-0.3	MENE
IFX	0.37	0.2	0.68	0.54	-0.58	0.36	-0.15		0.1	0.9	IFX
ICE	-0.12	-0.36	0.38	0.53	0.24	0.51	0.34	0.1		0.02	ICE
IFA	0.58	0.39	0.71	0.51	-0.57	0.34	-0.3	0.9	0.02		IFA
	RET	RET-A	SXP	DII-B	ROOT	WPRT	MENE	IFX	ICE	IFA

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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

IFA	+ 0.9	IFX
DII-B	+ 0.74	SXP
IFA	+ 0.71	SXP
IFX	+ 0.68	SXP
WPRT	+ 0.61	DII-B
IFA	+ 0.58	RET

High negative correlations

IFX	- 0.58	ROOT
IFA	- 0.57	ROOT
ICE	- 0.36	RET-A
MENE	- 0.32	RET-A
MENE	- 0.31	RET
IFA	- 0.3	MENE

Risk-Adjusted Indicators

There is a big difference between Transat Stock performing well and Transat AT 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 Transat AT'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
RET	2.79	0.15	0.03	0.52	3.04	(4.18)	7.51	(5.68)	19.34
RET-A	1.92	0.09	0.01	(0.34)	2.50	(2.43)	4.65	(4.09)	17.88
SXP	1.20	0.06	0.02	0.20	1.32	(1.51)	2.75	(2.70)	8.78
DII-B	4.35	0.25	0.05	0.35	4.52	(5.43)	10.70	(7.50)	24.80
ROOT	1.42	0.00	0.00	0.05	1.86	(1.67)	3.40	(3.61)	13.20
WPRT	3.04	(0.06)	(0.02)	0.00	3.13	(4.37)	7.79	(6.05)	23.27
MENE	5.30	0.61	0.06	0.37	5.67	(13.22)	16.67	(14.29)	52.69
IFX	3.70	1.49	0.45	1.47	1.19	(8.28)	2.83	(4.35)	110.89
ICE	1.84	0.11	0.02	0.24	2.25	(3.52)	5.28	(4.47)	17.47
IFA	3.53	0.87	0.21	2.00	2.94	(4.89)	12.67	(6.70)	22.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in Transat AT 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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