Tamarack Valley Correlations

TVE Stock

CAD 5.94 0.10 1.66%

The current 90-days correlation between Tamarack Valley Energy and Athabasca Oil Corp is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tamarack Valley moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tamarack Valley Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tamarack Valley Correlation With Market

Significant diversification

The correlation between Tamarack Valley Energy and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tamarack Valley Energy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Tamarack Valley could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tamarack Valley 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 Tamarack Valley - 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 Tamarack Valley Energy to buy it.

Moving together with Tamarack Stock

0.71	ENB-PFV	Enbridge Pref 5	Pair Corr
0.86	ENB-PFC	Enbridge Pref 11	Pair Corr
0.79	ENB-PFU	Enbridge Pref L	Pair Corr
0.87	ENS	E Split Corp	Pair Corr
0.75	ENS-PA	E Split Corp	Pair Corr
0.76	SAGE	Sage Potash Corp	Pair Corr
0.83	GSTM	Goldstorm Metals Corp	Pair Corr
0.86	JPM	JPMorgan Chase	Pair Corr
0.88	GOOG	Alphabet CDR	Pair Corr
0.74	BOFA	Bank of America	Pair Corr
0.88	GOOG	Alphabet CDR	Pair Corr
0.76	CITI	CITIGROUP CDR	Pair Corr
0.77	GCG	Guardian Capital	Pair Corr
0.95	NVA	NuVista Energy	Pair Corr
0.92	SUP	Northern Superior	Pair Corr
0.77	FTS-PI	Fortis Pref I	Pair Corr
0.91	IMG	IAMGold	Pair Corr
0.82	GLXY	Galaxy Digital Holdings Earnings Call This Week	Pair Corr
0.76	ALA-PB	Altagas Pref	Pair Corr
0.77	TLRY	Tilray Inc	Pair Corr
0.84	SVM	Silvercorp Metals	Pair Corr
0.8	FAP	abrdn Asia Pacific	Pair Corr
0.96	GRGD	Groupe Dynamite	Pair Corr
0.85	AG	First Majestic Silver	Pair Corr
0.7	JET	Global Crossing Airlines	Pair Corr
0.66	BEP-PG	Brookfield Renewable	Pair Corr
0.81	IAG	iA Financial	Pair Corr
0.82	RY	Royal Bank	Pair Corr

Moving against Tamarack Stock

0.41

AMZN

Amazon CDR

Pair Corr

Related Correlations Analysis

	MEG	CJ	ATH	WCP	NVA
MEG		0.81	0.82	0.68	0.73	MEG
CJ	0.81		0.97	0.87	0.96	CJ
ATH	0.82	0.97		0.87	0.94	ATH
WCP	0.68	0.87	0.87		0.86	WCP
NVA	0.73	0.96	0.94	0.86		NVA
	MEG	CJ	ATH	WCP	NVA

Risk-Adjusted Indicators

There is a big difference between Tamarack Stock performing well and Tamarack Valley 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 Tamarack Valley'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
MEG	0.92	0.18	0.09	(0.26)	0.97	(1.02)	2.07	(1.71)	8.70
CJ	1.05	0.18	0.08	(1.15)	1.30	(1.06)	2.53	(2.12)	7.70
ATH	1.34	0.14	0.05	1.31	1.76	(1.49)	2.99	(2.73)	10.36
WCP	1.10	0.16	0.08	(1.22)	1.13	(1.26)	2.04	(2.07)	8.66
NVA	1.42	0.17	0.08	2.22	1.54	(1.56)	3.03	(2.56)	9.56

Be your own money manager

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