Canfor Correlations

CFPZF Stock

USD 10.36 0.27 2.54%

The current 90-days correlation between Canfor and Santos is 0.08 (i.e., Significant diversification). The correlation of Canfor 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.

Canfor Correlation With Market

Significant diversification

The correlation between Canfor and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canfor and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Canfor Pink Sheet

0.7	ATCOL	Atlas Corp	Pair Corr
0.88	PCTTW	PureCycle Technologies Downward Rally	Pair Corr
0.66	GITS	Global Interactive Symbol Change	Pair Corr
0.64	LTRY	Lottery, Common Stock	Pair Corr
0.81	BAC	Bank of America	Pair Corr
0.77	INTC	Intel Earnings Call This Week	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.86	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.84	MSFT	Microsoft Aggressive Push	Pair Corr
0.74	GE	GE Aerospace Earnings Call Today	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.75	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Canfor Pink Sheet

0.75	GCMGW	GCM Grosvenor	Pair Corr
0.6	KO	Coca Cola Earnings Call Today	Pair Corr
0.8	MCD	McDonalds	Pair Corr
0.7	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.47	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	CLMEF	CJAX	BRNGF	ATUUF	STOSF	BRLL	EGY	HUSA	BRN	MXC
CLMEF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CLMEF
CJAX	0.0		-0.56	0.63	0.57	0.61	0.45	0.37	-0.27	0.41	CJAX
BRNGF	0.0	-0.56		-0.89	-0.82	-0.63	-0.76	-0.58	0.16	-0.66	BRNGF
ATUUF	0.0	0.63	-0.89		0.86	0.7	0.73	0.61	-0.2	0.66	ATUUF
STOSF	0.0	0.57	-0.82	0.86		0.47	0.81	0.78	-0.17	0.74	STOSF
BRLL	0.0	0.61	-0.63	0.7	0.47		0.35	0.21	-0.24	0.3	BRLL
EGY	0.0	0.45	-0.76	0.73	0.81	0.35		0.73	0.06	0.77	EGY
HUSA	0.0	0.37	-0.58	0.61	0.78	0.21	0.73		0.28	0.92	HUSA
BRN	0.0	-0.27	0.16	-0.2	-0.17	-0.24	0.06	0.28		0.41	BRN
MXC	0.0	0.41	-0.66	0.66	0.74	0.3	0.77	0.92	0.41		MXC
	CLMEF	CJAX	BRNGF	ATUUF	STOSF	BRLL	EGY	HUSA	BRN	MXC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MXC	+ 0.92	HUSA
STOSF	+ 0.86	ATUUF
EGY	+ 0.81	STOSF
HUSA	+ 0.78	STOSF
MXC	+ 0.77	EGY
MXC	+ 0.74	STOSF

High negative correlations

ATUUF	- 0.89	BRNGF
STOSF	- 0.82	BRNGF
EGY	- 0.76	BRNGF
MXC	- 0.66	BRNGF
BRLL	- 0.63	BRNGF
HUSA	- 0.58	BRNGF

Risk-Adjusted Indicators

There is a big difference between Canfor Pink Sheet performing well and Canfor 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 Canfor'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
CLMEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CJAX	1.73	0.54	0.00	(9.31)	0.00	0.00	0.00	0.00	51.75
BRNGF	0.99	(0.52)	0.00	(14.03)	0.00	0.00	0.00	0.00	33.33
ATUUF	2.02	0.46	0.21	0.64	1.38	(3.22)	6.67	(3.47)	16.25
STOSF	1.97	0.50	0.07	1.56	2.38	(4.61)	7.14	(2.82)	23.80
BRLL	7.42	0.50	0.04	3.25	8.36	(10.33)	15.38	(16.67)	48.31
EGY	2.22	0.14	0.02	0.68	2.41	(2.55)	4.31	(4.00)	15.59
HUSA	10.08	3.20	0.18	(0.45)	10.23	(12.61)	25.27	(15.43)	151.46
BRN	3.54	0.00	0.00	0.13	0.00	0.00	7.03	(5.74)	56.04
MXC	3.73	0.83	0.10	(0.26)	3.75	(5.89)	6.98	(7.74)	54.80

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canfor 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?

Run Idea Breakdown Now

Idea Breakdown

Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC