Martinrea International Correlations
| MRE Stock | CAD 8.51 0.01 0.12% |
The current 90-days correlation between Martinrea International and Linamar is 0.63 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Martinrea International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Martinrea International moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Martinrea International Correlation With Market
Significant diversification
The correlation between Martinrea International and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Martinrea International and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Martinrea International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Martinrea International 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 Martinrea International - 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 Martinrea International to buy it.
Moving together with Martinrea Stock
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| 0.79 | GOOG | Alphabet CDR Earnings Call Today | PairCorr |
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| 0.63 | CBA | Champion Bear Resources | PairCorr |
| 0.91 | MXG | Maxim Power Corp | PairCorr |
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| 0.68 | RKV | Rakovina Therapeutics Split | PairCorr |
| 0.7 | AUAU | Allegiant Gold Earnings Call Today | PairCorr |
| 0.79 | CNQ | Canadian Natural Res | PairCorr |
| 0.9 | PWF-PZ | Power Financial Corp | PairCorr |
| 0.65 | OM | Osisko Metals | PairCorr |
Moving against Martinrea Stock
Related Correlations Analysis
| 0.95 | 0.88 | 0.51 | 0.91 | 0.94 | 0.87 | LNR | ||
| 0.95 | 0.76 | 0.32 | 0.89 | 0.87 | 0.76 | XTC | ||
| 0.88 | 0.76 | 0.75 | 0.85 | 0.93 | 0.93 | MG | ||
| 0.51 | 0.32 | 0.75 | 0.51 | 0.65 | 0.76 | WPRT | ||
| 0.91 | 0.89 | 0.85 | 0.51 | 0.94 | 0.88 | ARE | ||
| 0.94 | 0.87 | 0.93 | 0.65 | 0.94 | 0.95 | NFI | ||
| 0.87 | 0.76 | 0.93 | 0.76 | 0.88 | 0.95 | EFN | ||
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Risk-Adjusted Indicators
There is a big difference between Martinrea Stock performing well and Martinrea International 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 Martinrea International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LNR | 1.40 | 0.46 | 0.29 | 2.27 | 0.87 | 3.32 | 11.38 | |||
| XTC | 1.35 | 0.26 | 0.11 | 1.85 | 1.08 | 3.83 | 8.97 | |||
| MG | 1.39 | 0.35 | 0.14 | 1.89 | 1.39 | 3.28 | 9.06 | |||
| WPRT | 1.94 | 0.42 | 0.14 | 1.39 | 1.79 | 4.40 | 13.57 | |||
| ARE | 1.51 | 0.28 | 0.06 | (3.93) | 2.26 | 3.12 | 11.59 | |||
| NFI | 1.81 | 0.79 | 0.33 | 6.45 | 1.28 | 4.37 | 16.80 | |||
| EFN | 0.81 | 0.24 | 0.17 | 1.23 | 0.55 | 1.97 | 5.10 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Martinrea International 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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