Definity Financial Correlations
| DFY Stock | | | 78.01 1.84 2.42% |
The current 90-days correlation between Definity Financial Corp and Intact Financial is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Definity Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Definity Financial Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Definity Financial Correlation With Market
Average diversification
The correlation between Definity Financial Corp and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Definity Financial Corp and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Definity Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Definity Financial 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 Definity Financial - 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 Definity Financial Corp to buy it.
Moving together with Definity Stock
Moving against Definity Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Definity Stock performing well and Definity Financial 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 Definity Financial'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.
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Definity Financial Corporate Management
Elected by the shareholders, the Definity Financial's board of directors comprises two types of representatives: Definity Financial inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Definity. The board's role is to monitor Definity Financial's management team and ensure that shareholders' interests are well served. Definity Financial'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, Definity Financial's outside directors are responsible for providing unbiased perspectives on the board's policies.