Yellow Pages Correlations

Y Stock

CAD 12.52 0.06 0.48%

The current 90-days correlation between Yellow Pages Limited and Postmedia Network Canada is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Yellow Pages moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Yellow Pages Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Yellow Pages Correlation With Market

Very weak diversification

The correlation between Yellow Pages Limited 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 Yellow Pages Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Yellow Stock

0.71	BNP	BNP Paribas CDR	Pair Corr
0.82	PWF-PA	Power Financial Corp	Pair Corr
0.73	FTT	Finning International	Pair Corr
0.75	AIM	Aimia Inc	Pair Corr
0.64	BTO	B2Gold Corp Earnings Call Tomorrow	Pair Corr
0.81	TVE	Tamarack Valley Energy	Pair Corr
0.63	BPF-UN	Boston Pizza Royalties	Pair Corr
0.69	ACQ	Autocanada	Pair Corr
0.62	BTE	Baytex Energy Corp	Pair Corr
0.92	COLA	Coca Cola	Pair Corr
0.73	BCE	BCE Inc	Pair Corr
0.79	BBB	Brixton Metals	Pair Corr
0.72	CWEB	Charlottes Web Holdings	Pair Corr
0.82	IPO	InPlay Oil Corp	Pair Corr
0.66	MKO	Mako Mining Corp	Pair Corr
0.61	DAN	Arianne Phosphate	Pair Corr
0.72	ATH	Athabasca Oil Corp	Pair Corr

Related Correlations Analysis

	PNC-B	ZOMD	GVC	FORA	ILLM	EQ	YOO	TVA-B	OAM
PNC-B		0.36	-0.63	0.26	-0.02	-0.08	0.25	0.04	0.17	PNC-B
ZOMD	0.36		-0.66	0.37	-0.21	-0.07	0.69	-0.21	0.75	ZOMD
GVC	-0.63	-0.66		-0.26	0.38	0.2	-0.57	0.19	-0.66	GVC
FORA	0.26	0.37	-0.26		0.39	0.39	0.19	-0.16	0.36	FORA
ILLM	-0.02	-0.21	0.38	0.39		0.42	-0.31	-0.01	-0.27	ILLM
EQ	-0.08	-0.07	0.2	0.39	0.42		-0.12	-0.02	-0.03	EQ
YOO	0.25	0.69	-0.57	0.19	-0.31	-0.12		0.13	0.52	YOO
TVA-B	0.04	-0.21	0.19	-0.16	-0.01	-0.02	0.13		-0.46	TVA-B
OAM	0.17	0.75	-0.66	0.36	-0.27	-0.03	0.52	-0.46		OAM
	PNC-B	ZOMD	GVC	FORA	ILLM	EQ	YOO	TVA-B	OAM

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

OAM	+ 0.75	ZOMD
YOO	+ 0.69	ZOMD
OAM	+ 0.52	YOO
EQ	+ 0.42	ILLM
ILLM	+ 0.39	FORA
EQ	+ 0.39	FORA

High negative correlations

OAM	- 0.66	GVC
GVC	- 0.66	ZOMD
GVC	- 0.63	PNC-B
YOO	- 0.57	GVC
OAM	- 0.46	TVA-B
YOO	- 0.31	ILLM

Risk-Adjusted Indicators

There is a big difference between Yellow Stock performing well and Yellow Pages 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 Yellow Pages' 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
PNC-B	0.15	(0.02)	0.00	0.39	0.00	0.00	0.00	0.00	5.00
ZOMD	2.94	(1.09)	0.00	(1.91)	0.00	0.00	5.93	(7.26)	33.11
GVC	3.86	0.93	0.11	0.57	3.56	(9.01)	12.50	(6.25)	35.88
FORA	2.26	(0.29)	0.00	1.40	0.00	0.00	4.50	(6.65)	16.81
ILLM	1.71	(0.10)	0.00	(0.44)	0.00	0.00	3.74	(3.06)	15.16
EQ	1.15	0.00	(0.02)	0.26	1.60	(1.74)	2.17	(3.06)	8.52
YOO	1.50	(0.18)	0.00	(0.64)	0.00	0.00	0.00	0.00	36.67
TVA-B	3.61	0.28	0.03	0.24	5.20	(5.55)	10.91	(9.84)	34.55
OAM	3.85	(0.41)	0.00	(0.49)	0.00	0.00	12.00	(9.68)	35.19

Be your own money manager

Our tools can tell you how much better you can do entering a position in Yellow Pages 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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