Canadian National Correlations

Stocks . Germany . 
Stock . Canadian National Railway
CY2 Stock  EUR 90.72  0.22  0.24%   
The current 90-days correlation between Canadian National Railway and AECOM TECHNOLOGY is -0.19 (i.e., Good diversification). The correlation of Canadian National 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 National Correlation With Market

Very good diversification

The correlation between Canadian National Railway and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian National Railway and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Canadian National 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 National 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 National - 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 National Railway to buy it.

Moving together with Canadian Stock

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  0.77NFS Norfolk SouthernPairCorr
  0.73MRI MTR LimitedPairCorr
  0.79WB2 Westinghouse Air BrakePairCorr
  0.62PTI Perusahaan PerseroanPairCorr
  0.61KBIA KB Financial GroupPairCorr
  0.68BZG2 PT Bank CentralPairCorr
  0.69S4Q SAFEROADS HLDGSPairCorr
  0.7353L TranscontinentalPairCorr
  0.75OSR OSRAM LICHT NPairCorr
  0.776LT BIRD CONSTRUCTIONPairCorr
  0.79ZCG BJs RestaurantsPairCorr
  0.63DBK Deutsche Bank AktienPairCorr
  0.69E908 Lyxor 1PairCorr
  0.71DBPE Xtrackers LevDAXPairCorr

Moving against Canadian Stock

  0.66DBPD Xtrackers ShortDAXPairCorr
  0.32EJR East Japan RailwayPairCorr

Related Correlations Analysis

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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   
XYD
+ 0.72
S92
S92
+ 0.67
E6Z
XYD
+ 0.58
E6Z
E6Z
+ 0.56
M1W
S92
+ 0.47
G1MN
XYD
+ 0.32
G1MN
  
High negative correlations   
M1W
- 0.51
G1MN
799
- 0.18
M1W
XYD
- 0.11
M1W
S92
- 0.1
M1W
799
- 0.02
E6Z
XYD
- 0.0
EUH

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian National 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 National'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canadian National 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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Canadian National Corporate Management

Elected by the shareholders, the Canadian National's board of directors comprises two types of representatives: Canadian National 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 National's management team and ensure that shareholders' interests are well served. Canadian National'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 National's outside directors are responsible for providing unbiased perspectives on the board's policies.
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Olivier ChoucVP OfficerProfile
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