George Weston Correlations

WN Stock

CAD 93.74 1.00 1.06%

The current 90-days correlation between George Weston Limited and Empire Company Limited is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as George Weston moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if George Weston Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

George Weston Correlation With Market

Good diversification

The correlation between George Weston Limited and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding George Weston Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with George Stock

0.75	EBM	Eastwood Bio Medical	Pair Corr
0.86	POW	Power	Pair Corr
0.87	PTEC	Principal Technologies	Pair Corr
0.69	ISRG	Intuitive Surgical CDR	Pair Corr

Moving against George Stock

0.83	SBIO	Sabio Holdings	Pair Corr
0.53	ONAU	OnGold Resources	Pair Corr
0.51	DFR	Diamond Fields Resources	Pair Corr

Related Correlations Analysis

	EMP-A	L	TPX-B	NWC	MRU	SAP	PESO	PBH	MFI	JWEL
EMP-A		0.31	-0.22	0.31	0.41	0.1	-0.46	-0.41	-0.4	0.29	EMP-A
L	0.31		0.09	0.83	0.97	0.89	0.01	0.34	-0.6	-0.65	L
TPX-B	-0.22	0.09		0.04	0.08	0.08	-0.05	0.31	0.24	-0.27	TPX-B
NWC	0.31	0.83	0.04		0.86	0.89	0.21	0.33	-0.53	-0.45	NWC
MRU	0.41	0.97	0.08	0.86		0.88	-0.06	0.28	-0.65	-0.57	MRU
SAP	0.1	0.89	0.08	0.89	0.88		0.25	0.4	-0.61	-0.7	SAP
PESO	-0.46	0.01	-0.05	0.21	-0.06	0.25		0.39	0.11	-0.12	PESO
PBH	-0.41	0.34	0.31	0.33	0.28	0.4	0.39		0.17	-0.51	PBH
MFI	-0.4	-0.6	0.24	-0.53	-0.65	-0.61	0.11	0.17		0.36	MFI
JWEL	0.29	-0.65	-0.27	-0.45	-0.57	-0.7	-0.12	-0.51	0.36		JWEL
	EMP-A	L	TPX-B	NWC	MRU	SAP	PESO	PBH	MFI	JWEL

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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

MRU	+ 0.97	L
SAP	+ 0.89	L
SAP	+ 0.89	NWC
SAP	+ 0.88	MRU
MRU	+ 0.86	NWC
NWC	+ 0.83	L

High negative correlations

JWEL	- 0.7	SAP
MFI	- 0.65	MRU
JWEL	- 0.65	L
MFI	- 0.61	SAP
MFI	- 0.6	L
JWEL	- 0.57	MRU

Risk-Adjusted Indicators

There is a big difference between George Stock performing well and George Weston 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 George Weston'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
EMP-A	1.06	(0.07)	0.00	(0.66)	0.00	0.00	2.25	(2.05)	12.11
L	0.98	0.20	0.10	(2.53)	0.96	(1.09)	2.25	(1.72)	5.70
TPX-B	1.31	(0.01)	0.00	0.11	0.00	0.00	2.99	(2.88)	8.51
NWC	0.78	0.04	(0.02)	0.62	1.17	(0.77)	1.82	(1.67)	7.13
MRU	0.67	0.09	0.01	(1.63)	0.87	(0.71)	1.56	(1.76)	4.96
SAP	0.92	0.27	0.21	2.35	0.71	(1.11)	2.28	(1.48)	5.40
PESO	3.74	0.14	0.02	0.18	4.88	(4.98)	8.00	(10.71)	29.65
PBH	1.22	0.13	0.04	0.43	1.87	(1.25)	2.93	(2.44)	11.56
MFI	1.35	(0.16)	0.00	(0.66)	0.00	0.00	2.26	(3.08)	18.36
JWEL	0.80	(0.10)	0.00	(0.68)	0.00	0.00	1.53	(1.56)	5.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in George Weston 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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