Canoe EIT Ownership
| EIT-UN Stock | CAD 15.56 0.02 0.13% |
Shares in Circulation | First Issued 2013-03-31 | Previous Quarter 177.8 M | Current Value 177.8 M | Avarage Shares Outstanding 114.9 M | Quarterly Volatility 30.7 M |
Canoe |
Canoe Stock Ownership Analysis
The company has price-to-book (P/B) ratio of 1.06. Some equities with similar Price to Book (P/B) outperform the market in the long run. Canoe EIT Income last dividend was issued on the 21st of June 2024. The entity had 1:1 split on the 8th of November 2011. Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. Canoe EIT Income Fund was formed on August 5, 1997 and is domiciled in Canada. CANOE EIT is traded on Toronto Stock Exchange in Canada. To learn more about Canoe EIT Income call the company at 800-459-3384 or check out https://www.canoefinancial.com/products/closed-end.Canoe EIT Outstanding Bonds
Canoe EIT issues bonds to finance its operations. Corporate bonds make up one of the largest components of the U.S. bond market, which is considered the world's largest securities market. Canoe EIT Income uses the proceeds from bond sales for a wide variety of purposes, including financing ongoing mergers and acquisitions, buying new equipment, investing in research and development, buying back their own stock, paying dividends to shareholders, and even refinancing existing debt. Most Canoe bonds can be classified according to their maturity, which is the date when Canoe EIT Income has to pay back the principal to investors. Maturities can be short-term, medium-term, or long-term (more than ten years). Longer-term bonds usually offer higher interest rates but may entail additional risks.
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| MPLX LP 52 Corp BondUS55336VAL45 | View | |
| Morgan Stanley 3591 Corp BondUS61744YAK47 | View | |
| Morgan Stanley 3971 Corp BondUS61744YAL20 | View |
Pair Trading with Canoe EIT
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canoe EIT position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canoe EIT will appreciate offsetting losses from the drop in the long position's value.Moving against Canoe Stock
| 0.81 | TGO | TeraGo Inc | PairCorr |
| 0.62 | VGZ | Vista Gold | PairCorr |
| 0.54 | CDR | Condor Energies | PairCorr |
| 0.37 | EXN | Excellon Resources | PairCorr |
The ability to find closely correlated positions to Canoe EIT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canoe EIT 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 Canoe EIT - 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 Canoe EIT Income to buy it.
The correlation of Canoe EIT 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canoe EIT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canoe EIT Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canoe EIT can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Canoe Stock
Canoe EIT financial ratios help investors to determine whether Canoe Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Canoe with respect to the benefits of owning Canoe EIT security.