Forward Water Correlations

Stocks . Canada . 
Stock . Forward Water Technologies
FWTC Stock   0.08  0.01  14.29%   
The current 90-days correlation between Forward Water Techno and JPMorgan Chase Co is -0.05 (i.e., Good diversification). The correlation of Forward Water 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.

Forward Water Correlation With Market

Good diversification

The correlation between Forward Water Technologies and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forward Water Technologies and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Forward Water could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Forward Water 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 Forward Water - 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 Forward Water Technologies to buy it.

Moving together with Forward Stock

  0.64PIC-A Premium Income SplitPairCorr

Moving against Forward Stock

  0.73RY-PM Royal BankPairCorr
  0.69RY-PJ Royal BankPairCorr
  0.65RY-PS Royal BankPairCorr
  0.63JPM JPMorgan ChasePairCorr
  0.63RY-PN Royal BankPairCorr
  0.63PRL Propel HoldingsPairCorr
  0.62ARE Aecon GroupPairCorr
  0.6BOFA Bank of AmericaPairCorr
  0.58RY-PO Royal BankPairCorr
  0.55ENB EnbridgePairCorr
  0.53RY Royal BankPairCorr
  0.53HITI High TidePairCorr
  0.5NVDA NVIDIA CDRPairCorr
  0.39ZOMD Zoomd TechnologiesPairCorr
  0.33WELL WELL Health TechnologiesPairCorr
  0.31BMO-PW Bank of MontrealPairCorr
  0.72DR Medical FacilitiesPairCorr
  0.67FFN North American FinancialPairCorr
  0.65FTG Firan TechnologyPairCorr
  0.57EFR Energy FuelsPairCorr
  0.57MAL Magellan AerospacePairCorr
  0.56CF Canaccord GenuityPairCorr
  0.56DNG Dynacor Gold MinesPairCorr
  0.54MFC Manulife Financial CorpPairCorr
  0.54MXG Maxim Power CorpPairCorr
  0.53BDT Bird ConstructionPairCorr
  0.51BNS Bank of Nova ScotiaPairCorr
  0.5STN StantecPairCorr
  0.5LMN Lumine GroupPairCorr
  0.48ET Evertz TechnologiesPairCorr
  0.48SHOP ShopifyPairCorr

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   
BOFA
+ 0.99
JPM
RY-PS
+ 0.92
JPM
RY-PS
+ 0.92
BOFA
RY-PN
+ 0.92
RY-PO
RY-PS
+ 0.9
RY-PM
RY-PJ
+ 0.9
RY-PM
  
High negative correlations   
RY
- 0.84
TD
RY-PM
- 0.8
TD
RY-PJ
- 0.79
TD
RY-PS
- 0.75
TD
RY-PO
- 0.74
TD
TD
- 0.7
JPM

Risk-Adjusted Indicators

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

Be your own money manager

Our tools can tell you how much better you can do entering a position in Forward Water 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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Forward Water Corporate Management

Elected by the shareholders, the Forward Water's board of directors comprises two types of representatives: Forward Water inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Forward. The board's role is to monitor Forward Water's management team and ensure that shareholders' interests are well served. Forward Water'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, Forward Water's outside directors are responsible for providing unbiased perspectives on the board's policies.
BASc MAScCOO DirectorProfile
Grant ThornleyVice SolutionSalesProfile
Michael WillettsChief OfficerProfile
Michael CAExecutive PlatformsProfile
Howie HoneymanPres CEOProfile
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