VersaBank Correlations

VBNK Stock

20.58 0.08 0.39%

The current 90-days correlation between VersaBank and Guardian Capital Group is -0.21 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VersaBank moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VersaBank moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VersaBank Correlation With Market

Average diversification

The correlation between VersaBank and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VersaBank and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with VersaBank Stock

0.69	JPM	JPMorgan Chase	Pair Corr
0.68	BOFA	Bank of America	Pair Corr
0.88	CITI	CITIGROUP CDR	Pair Corr
0.73	GRT-UN	Granite Real Estate	Pair Corr

Moving against VersaBank Stock

0.49	MSFT	Microsoft CDR	Pair Corr
0.49	MSFT	Microsoft Corp CDR	Pair Corr

Related Correlations Analysis

	GCG	GCG-A	UNC	CF	TSU	SFC	CYB	VBNK	PRL	CVG
GCG		0.87	0.21	0.47	0.61	0.51	0.27	0.44	-0.31	-0.09	GCG
GCG-A	0.87		0.29	0.56	0.69	0.54	0.18	0.47	-0.4	-0.11	GCG-A
UNC	0.21	0.29		0.3	0.55	0.5	0.29	0.52	0.28	0.16	UNC
CF	0.47	0.56	0.3		0.26	0.1	-0.12	0.06	-0.29	0.03	CF
TSU	0.61	0.69	0.55	0.26		0.81	0.37	0.76	-0.09	0.01	TSU
SFC	0.51	0.54	0.5	0.1	0.81		0.56	0.96	0.19	0.08	SFC
CYB	0.27	0.18	0.29	-0.12	0.37	0.56		0.6	0.53	-0.01	CYB
VBNK	0.44	0.47	0.52	0.06	0.76	0.96	0.6		0.26	0.07	VBNK
PRL	-0.31	-0.4	0.28	-0.29	-0.09	0.19	0.53	0.26		0.02	PRL
CVG	-0.09	-0.11	0.16	0.03	0.01	0.08	-0.01	0.07	0.02		CVG
	GCG	GCG-A	UNC	CF	TSU	SFC	CYB	VBNK	PRL	CVG

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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

VBNK	+ 0.96	SFC
GCG-A	+ 0.87	GCG
SFC	+ 0.81	TSU
VBNK	+ 0.76	TSU
TSU	+ 0.69	GCG-A
TSU	+ 0.61	GCG

High negative correlations

PRL	- 0.4	GCG-A
PRL	- 0.31	GCG
PRL	- 0.29	CF
CYB	- 0.12	CF
CVG	- 0.11	GCG-A
PRL	- 0.09	TSU

Risk-Adjusted Indicators

There is a big difference between VersaBank Stock performing well and VersaBank 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 VersaBank'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
GCG	0.13	0.01	(0.13)	0.29	0.05	(0.23)	0.30	(0.21)	2.56
GCG-A	0.10	0.01	(0.26)	1.39	0.00	(0.14)	0.25	(0.21)	0.90
UNC	0.63	(0.02)	(0.06)	0.01	0.69	(0.95)	1.75	(1.48)	4.51
CF	1.55	0.04	0.01	0.10	1.75	(1.80)	2.87	(3.54)	19.08
TSU	1.31	0.15	0.09	0.39	1.22	(1.53)	3.07	(2.21)	8.14
SFC	1.16	0.21	0.11	1.53	1.24	(1.32)	3.02	(2.47)	6.79
CYB	0.78	0.03	(0.01)	0.21	0.91	(0.91)	1.72	(1.71)	4.85
VBNK	1.35	0.23	0.13	0.54	1.36	(1.53)	3.18	(2.71)	12.53
PRL	2.62	(0.33)	0.00	(0.25)	0.00	0.00	5.98	(4.43)	20.10
CVG	0.34	0.01	(0.06)	0.13	0.40	(0.78)	0.77	(0.91)	4.85

Be your own money manager

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

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

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