Canadian Net Correlations

NET-UN Stock

5.50 0.01 0.18%

The correlation of Canadian Net 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 Net Correlation With Market

Good diversification

The correlation between Canadian Net Real 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 Net Real and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Canadian Net 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 Net 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 Net - 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 Net Real to buy it.

Moving together with Canadian Stock

0.75	JPM	JPMorgan Chase	Pair Corr
0.65	GOOG	Alphabet CDR Earnings Call Tomorrow	Pair Corr
0.74	BOFA	Bank of America	Pair Corr
0.76	CITI	CITIGROUP CDR	Pair Corr
0.77	MSFT	Microsoft Corp CDR	Pair Corr
0.75	AMZN	Amazon CDR	Pair Corr
0.75	GS	GOLDMAN SACHS CDR	Pair Corr
0.88	IBM	International Business Earnings Call This Week	Pair Corr
0.69	RKV	Rakovina Therapeutics Split	Pair Corr
0.72	AUAU	Allegiant Gold Earnings Call Tomorrow	Pair Corr

Moving against Canadian Stock

0.79

BRK

Berkshire Hathaway CDR

Pair Corr

Related Correlations Analysis

	ET	MU	HILL	JUMP	QIS	SMCI	GYM	NUMI
ET		0.93	-0.21	0.0	-0.76	0.88	0.0	0.0	ET
MU	0.93		-0.37	0.0	-0.88	0.87	0.0	0.0	MU
HILL	-0.21	-0.37		0.0	0.42	-0.14	0.0	0.0	HILL
JUMP	0.0	0.0	0.0		0.0	0.0	-1.0	1.0	JUMP
QIS	-0.76	-0.88	0.42	0.0		-0.82	0.0	0.0	QIS
SMCI	0.88	0.87	-0.14	0.0	-0.82		0.0	0.0	SMCI
GYM	0.0	0.0	0.0	-1.0	0.0	0.0		-1.0	GYM
NUMI	0.0	0.0	0.0	1.0	0.0	0.0	-1.0		NUMI
	ET	MU	HILL	JUMP	QIS	SMCI	GYM	NUMI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

NUMI	+ 1.0	JUMP
MU	+ 0.93	ET
SMCI	+ 0.88	ET
SMCI	+ 0.87	MU
QIS	+ 0.42	HILL
JUMP	+ 0.0	ET

High negative correlations

NUMI	- 1.0	GYM
GYM	- 1.0	JUMP
QIS	- 0.88	MU
SMCI	- 0.82	QIS
QIS	- 0.76	ET
HILL	- 0.37	MU

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian Net 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 Net'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
ET	0.83	0.22	0.14	0.98	0.58	(1.03)	1.95	(1.59)	4.54
MU	1.96	0.70	0.31	2.91	1.39	(2.32)	5.05	(2.77)	11.96
HILL	1.94	(0.03)	0.00	0.75	0.00	0.00	11.76	(9.52)	33.18
JUMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QIS	1.34	(0.46)	0.00	(0.72)	0.00	0.00	2.17	(4.12)	13.87
SMCI	3.51	0.66	0.15	1.04	3.79	(4.04)	8.47	(7.22)	25.61
GYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUMI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canadian Net 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?

Run USA ETFs Now

USA ETFs

Find actively traded Exchange Traded Funds (ETF) in USA

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC