Bank of Nova Scotia Correlations
| BNS Stock | MXN 1,200 38.00 3.27% |
The current 90-days correlation between Bank of Nova Scotia and UBS Group AG is -0.02 (i.e., Good diversification). The correlation of Bank of Nova Scotia 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Bank of Nova Scotia Correlation With Market
Significant diversification
The correlation between The Bank of 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 The Bank of and DJI in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank of Nova Scotia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Nova Scotia 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 Bank of Nova Scotia - 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 The Bank of to buy it.
Moving together with Bank Stock
| 0.77 | WFC | Wells Fargo | PairCorr |
| 0.7 | UBSN | UBS Group AG | PairCorr |
| 0.7 | BCSN | Barclays PLC | PairCorr |
| 0.66 | PRU | Prudential Financial | PairCorr |
| 0.76 | BAC | Bank of America | PairCorr |
| 0.72 | MS | Morgan Stanley | PairCorr |
| 0.73 | DAL | Delta Air Lines | PairCorr |
Moving against Bank Stock
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Bank Stock performing well and Bank of Nova Scotia 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 Bank of Nova Scotia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UBSN | 0.60 | 0.15 | 0.00 | (17.70) | 0.00 | 2.96 | 8.50 | |||
| WOOD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VHT | 0.42 | 0.00 | (0.04) | 0.11 | 0.81 | 1.13 | 8.55 | |||
| EMB | 0.66 | 0.13 | 0.00 | (3.04) | 0.77 | 1.52 | 6.53 | |||
| IXJ | 0.91 | (0.03) | 0.00 | 0.78 | 0.00 | 2.61 | 8.97 | |||
| IYW | 1.10 | 0.19 | 0.06 | 0.84 | 1.15 | 2.86 | 7.88 | |||
| VOLARA | 1.53 | 0.49 | 0.20 | 4.84 | 1.39 | 4.58 | 9.54 | |||
| USB | 1.02 | 0.36 | 0.05 | (0.52) | 0.85 | 5.43 | 16.15 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bank of Nova Scotia 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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Bank of Nova Scotia Corporate Management
Elected by the shareholders, the Bank of Nova Scotia's board of directors comprises two types of representatives: Bank of Nova Scotia inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bank. The board's role is to monitor Bank of Nova Scotia's management team and ensure that shareholders' interests are well served. Bank of Nova Scotia'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, Bank of Nova Scotia's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jake Lawrence | Co-Group Head, Global Banking and Markets | Profile | |
| Daniel Rees | Group Banking | Profile | |
| James Neate | Co-Group Head, Global Banking and Markets | Profile | |
| Ignacio Deschamps | Group Head - International Banking and Digital Transformation | Profile |