Financial Correlations

FTN-PA Preferred Stock

CAD 10.83 0.04 0.37%

The current 90-days correlation between Financial 15 Split and North American Financial is -0.08 (i.e., Good diversification). The correlation of Financial 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.

Financial Correlation With Market

Good diversification

The correlation between Financial 15 Split and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial 15 Split and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 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 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 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 Financial 15 Split to buy it.

Moving together with Financial Preferred Stock

0.89	GS	GOLDMAN SACHS CDR	Pair Corr
0.75	GLXY	Galaxy Digital Holdings	Pair Corr
0.79	HUT	Hut 8 Mining	Pair Corr
0.85	CF	Canaccord Genuity	Pair Corr
0.82	CF-PC	Canaccord Genuity	Pair Corr
0.69	FFH	Fairfax Financial	Pair Corr
0.8	DFN	Dividend 15 Split	Pair Corr
0.67	HLU	Homeland Uranium Corp	Pair Corr
0.77	RY-PM	Royal Bank	Pair Corr
0.66	VZLA	Vizsla Silver Corp	Pair Corr
0.74	ALV	Alvopetro Energy	Pair Corr
0.82	JPM	JPMorgan Chase	Pair Corr
0.91	LCS	Brompton Lifeco Split	Pair Corr
0.7	VNP	5N Plus	Pair Corr
0.8	CSH-UN	Chartwell Retirement	Pair Corr
0.83	CAR-UN	Canadian Apartment	Pair Corr
0.7	BCE-PD	Bce Inc Pref	Pair Corr
0.71	TSU	Trisura Group	Pair Corr
0.77	WSP	WSP Global	Pair Corr
0.68	CRDL	Cardiol Therapeutics	Pair Corr
0.73	GOT	Goliath Resources	Pair Corr
0.81	HWX	Headwater Exploration	Pair Corr
0.78	DGS	Dividend Growth Split	Pair Corr
0.65	OTC	Ocumetics Technology Corp	Pair Corr
0.77	SPRX	Sparx Technology	Pair Corr

Moving against Financial Preferred Stock

0.59

WGF

Wescan Goldfields

Pair Corr

Related Correlations Analysis

	FFN-PA	DFN-PA	DGS-PA	DF-PA	FTN
FFN-PA		0.95	0.86	0.94	0.81	FFN-PA
DFN-PA	0.95		0.9	0.91	0.84	DFN-PA
DGS-PA	0.86	0.9		0.87	0.82	DGS-PA
DF-PA	0.94	0.91	0.87		0.71	DF-PA
FTN	0.81	0.84	0.82	0.71		FTN
	FFN-PA	DFN-PA	DGS-PA	DF-PA	FTN

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Risk-Adjusted Indicators

There is a big difference between Financial Preferred Stock performing well and 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 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FFN-PA	0.51	0.01	(0.01)	0.05	0.92	(0.45)	0.97	(1.57)	4.00
DFN-PA	0.33	0.01	(0.02)	0.06	0.58	(0.35)	0.87	(0.69)	3.38
DGS-PA	0.42	0.01	(0.02)	0.20	0.67	(0.46)	0.69	(1.50)	4.36
DF-PA	0.39	0.00	(0.03)	0.01	0.71	(0.41)	0.88	(1.08)	3.40
FTN	1.05	0.16	0.08	1.18	1.51	(1.10)	2.02	(2.65)	11.22

Be your own money manager

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