Canadian General Correlations
| CGI Stock | CAD 40.40 0.17 0.42% |
The current 90-days correlation between Canadian General Inv and Uniteds Limited is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian General moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian General Investments moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Canadian General Correlation With Market
Good diversification
The correlation between Canadian General Investments and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian General Investments and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Canadian General 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 General 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 General - 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 General Investments to buy it.
Moving together with Canadian Stock
| 0.73 | LQWD | LQwD FinTech Corp | PairCorr |
| 0.62 | MATE | Blockmate Ventures | PairCorr |
| 0.84 | CNQ | Canadian Natural Res | PairCorr |
| 0.79 | AUAU | Allegiant Gold Split | PairCorr |
Moving against Canadian Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Canadian Stock performing well and Canadian General 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 General'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UNC | 0.70 | 0.24 | 0.01 | 3.30 | 0.36 | 1.69 | 3.81 | |||
| EVT | 26.89 | 16.60 | 0.51 | (0.81) | 10.82 | 4.03 | 989.97 | |||
| FAP | 0.61 | 0.04 | (0.25) | (0.40) | 0.70 | 1.08 | 5.08 | |||
| CVG | 0.80 | 0.20 | (0.02) | 2.54 | 0.58 | 2.10 | 9.51 | |||
| CGO | 1.07 | 0.35 | (0.02) | (0.40) | 1.64 | 2.23 | 9.30 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Canadian General 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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