Canadian TireLimited Correlations
| YAAA Stock | EUR 111.30 1.60 1.46% |
The current 90-days correlation between Canadian TireLimited and Amdocs Limited is 0.1 (i.e., Average diversification). The correlation of Canadian TireLimited 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.
Canadian TireLimited Correlation With Market
Poor diversification
The correlation between Canadian Tire and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Tire and DJI in the same portfolio, assuming nothing else is changed.
Canadian |
The ability to find closely correlated positions to Canadian TireLimited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian TireLimited 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 Canadian TireLimited - 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 Canadian Tire to buy it.
Moving together with Canadian Stock
| 0.86 | ADH2 | Air Canada | PairCorr |
| 0.65 | HIUC | China Taiping Insurance | PairCorr |
| 0.7 | ASME | ASML Holding NV | PairCorr |
| 0.76 | 10N | Enter Air SA | PairCorr |
| 0.66 | G40 | GDS Holdings Limited | PairCorr |
| 0.63 | AED | Grupo Aeroportuario del | PairCorr |
| 0.78 | ELG | Elmos Semiconductor | PairCorr |
| 0.77 | LA3A | Laureate Education Earnings Call This Week | PairCorr |
| 0.66 | SII | Wheaton Precious Metals | PairCorr |
| 0.8 | PPQ | PPG INDUSTRIES | PairCorr |
| 0.74 | TQI | TELECOM ITALIA | PairCorr |
| 0.62 | 3YC | STV GROUP PLC | PairCorr |
| 0.81 | TGE1 | MOBILEZONE N | PairCorr |
| 0.8 | ZNHH | China Southern Airlines | PairCorr |
| 0.68 | BSI | BE Semiconductor Ind Earnings Call This Week | PairCorr |
| 0.66 | FPP0 | ALTYNGOLD PLC LS | PairCorr |
| 0.74 | RATV | Raisio plc | PairCorr |
| 0.63 | 6VD | BD MULTI MEDIA Split | PairCorr |
| 0.78 | HBC1 | HSBC Holdings plc | PairCorr |
Moving against Canadian Stock
| 0.58 | K9R | KENEDIX OFFICE INV | PairCorr |
| 0.51 | JUA | Japan Real Estate | PairCorr |
| 0.31 | O2F | ORIX JREIT INC | PairCorr |
| 0.72 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.47 | 777 | EUROSPORTS GLOBAL LTD | PairCorr |
Related Correlations Analysis
| 0.38 | -0.2 | -0.41 | -0.35 | -0.74 | WAZ | ||
| 0.38 | 0.47 | -0.1 | 0.16 | -0.21 | AOS | ||
| -0.2 | 0.47 | -0.02 | 0.86 | 0.58 | YAR | ||
| -0.41 | -0.1 | -0.02 | 0.14 | 0.45 | FQI | ||
| -0.35 | 0.16 | 0.86 | 0.14 | 0.78 | 34U | ||
| -0.74 | -0.21 | 0.58 | 0.45 | 0.78 | 54E | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Canadian Stock performing well and Canadian TireLimited 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 Canadian TireLimited'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WAZ | 1.42 | (0.24) | 0.00 | (1.27) | 0.00 | 2.91 | 18.26 | |||
| AOS | 1.38 | (0.31) | 0.00 | (1.38) | 0.00 | 2.09 | 9.11 | |||
| YAR | 1.82 | 0.09 | 0.01 | (0.33) | 2.05 | 3.77 | 13.11 | |||
| FQI | 1.17 | 0.02 | (0.01) | 0.10 | 1.54 | 1.96 | 5.75 | |||
| 34U | 1.41 | 0.35 | 0.21 | 0.71 | 1.20 | 3.59 | 7.87 | |||
| 54E | 1.50 | 0.35 | 0.14 | (8.23) | 1.53 | 3.05 | 7.42 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Canadian TireLimited 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.Did you try this?
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Canadian TireLimited Corporate Management
Elected by the shareholders, the Canadian TireLimited's board of directors comprises two types of representatives: Canadian TireLimited inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Canadian. The board's role is to monitor Canadian TireLimited's management team and ensure that shareholders' interests are well served. Canadian TireLimited'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, Canadian TireLimited's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Aayaz Pira | Pres Services | Profile | |
| Darryl Jenkins | Executive Officer | Profile | |
| CPA CMA | CFO VP | Profile | |
| Elizabeth JD | Executive Officer | Profile | |
| Johnathan Pershing | Ex Officer | Profile | |
| Susan OBrien | Executive Officer | Profile |