Cascades Correlations

CAS Stock  CAD 12.61  0.05  0.40%   
The current 90-days correlation between Cascades and Canfor is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cascades moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cascades moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cascades Correlation With Market

Modest diversification

The correlation between Cascades and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cascades and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Cascades could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cascades 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 Cascades - 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 Cascades to buy it.

Moving together with Cascades Stock

  0.68IE Ivanhoe EnergyPairCorr
  0.63ELF E L FinancialPairCorr
  0.9FFH Fairfax FinancialPairCorr
  0.81FFH-PC Fairfax Fin HldPairCorr
  0.74FFH-PK Fairfax FinancialPairCorr
  0.7FFH-PH Fairfax FinancialPairCorr
  0.68FFH-PG Fairfax Fin HldPairCorr
  0.73FFH-PE Fairfax FinancialPairCorr
  0.69FFH-PI Fairfax FinancialPairCorr
  0.74FFH-PF Fairfax FinancialPairCorr

Moving against Cascades Stock

  0.69INFM Infinico Metals CorpPairCorr

Related Correlations Analysis

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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   
SAPSJ
SJBLX
TCL-ACFP
SAPBLX
TCL-ABLX
BLXCFP
  
High negative correlations   
SAPCFP
SJCFP
TCL-ASAP
TCL-ASJ

Risk-Adjusted Indicators

There is a big difference between Cascades Stock performing well and Cascades 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 Cascades' 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.

Be your own money manager

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