M Split Correlations

XMF-A Stock

CAD 1.00 0.00 0.00%

The current 90-days correlation between M Split Corp and US Financial 15 is 0.13 (i.e., Average diversification). The correlation of M Split is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

M Split Correlation With Market

Very weak diversification

The correlation between M Split Corp and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding M Split Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with XMF-A Stock

0.62	SBI	Serabi Gold PLC	Pair Corr
0.64	BTE	Baytex Energy Corp	Pair Corr
0.63	SGR-U	Slate Grocery REIT	Pair Corr
0.82	ETG	Entree Resources	Pair Corr
0.71	MGG	Minaurum Silver	Pair Corr
0.73	DOS	Dios Exploration	Pair Corr
0.79	WPRT	Westport Fuel Systems	Pair Corr
0.66	TRU	Trius Investments	Pair Corr
0.7	FTT	Finning International	Pair Corr
0.83	PGDC	Patagonia Gold Corp	Pair Corr
0.73	TUF	Honey Badger Silver	Pair Corr
0.79	TI	Titan Mining Corp	Pair Corr
0.62	ACQ	Autocanada	Pair Corr
0.68	CCA	Cogeco Communications	Pair Corr
0.65	MKO	Mako Mining Corp	Pair Corr

Moving against XMF-A Stock

0.74	AAPL	Apple Inc CDR	Pair Corr
0.74	AAPL	Apple CDR	Pair Corr
0.41	MSFT	Microsoft Corp CDR	Pair Corr
0.41	MSFT	Microsoft CDR	Pair Corr

Related Correlations Analysis

	FTU	MONT	FNR	VAL-P	MKZ-UN	PDV	AAB	BKMT
FTU		-0.38	0.67	-0.61	-0.43	0.76	0.08	-0.1	FTU
MONT	-0.38		-0.25	0.56	-0.08	-0.39	0.07	0.15	MONT
FNR	0.67	-0.25		-0.5	-0.53	0.64	0.19	-0.17	FNR
VAL-P	-0.61	0.56	-0.5		0.22	-0.84	-0.11	0.17	VAL-P
MKZ-UN	-0.43	-0.08	-0.53	0.22		-0.42	-0.14	-0.01	MKZ-UN
PDV	0.76	-0.39	0.64	-0.84	-0.42		0.18	-0.17	PDV
AAB	0.08	0.07	0.19	-0.11	-0.14	0.18		0.31	AAB
BKMT	-0.1	0.15	-0.17	0.17	-0.01	-0.17	0.31		BKMT
	FTU	MONT	FNR	VAL-P	MKZ-UN	PDV	AAB	BKMT

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

PDV	+ 0.76	FTU
FNR	+ 0.67	FTU
PDV	+ 0.64	FNR
VAL-P	+ 0.56	MONT
BKMT	+ 0.31	AAB
MKZ-UN	+ 0.22	VAL-P

High negative correlations

PDV	- 0.84	VAL-P
VAL-P	- 0.61	FTU
MKZ-UN	- 0.53	FNR
VAL-P	- 0.5	FNR
MKZ-UN	- 0.43	FTU
PDV	- 0.42	MKZ-UN

Risk-Adjusted Indicators

There is a big difference between XMF-A Stock performing well and M Split 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 M Split'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
FTU	1.77	0.40	0.04	(1.23)	2.46	(5.70)	6.15	(3.45)	33.01
MONT	11.70	2.48	0.00	0.51	0.00	0.00	50.00	(33.33)	150.00
FNR	6.99	2.54	0.00	(0.34)	0.00	0.00	50.00	(10.00)	86.67
VAL-P	0.37	(0.22)	0.00	(0.63)	0.00	0.00	0.00	0.00	12.50
MKZ-UN	3.10	(0.06)	0.00	(0.14)	0.00	0.00	8.33	(8.00)	20.00
PDV	0.82	0.00	0.12	0.00	0.76	(1.41)	2.72	(1.57)	8.03
AAB	3.00	0.37	0.00	(4.76)	0.00	0.00	0.00	0.00	58.33
BKMT	5.26	(0.48)	0.00	0.56	0.00	0.00	14.29	(18.18)	45.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in M Split 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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