Guardian Capital Correlations

GCG-A Stock  CAD 42.78  2.03  4.98%   
The current 90-days correlation between Guardian Capital and Berkshire Hathaway CDR is -0.09 (i.e., Good diversification). The correlation of Guardian Capital 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.

Guardian Capital Correlation With Market

GuardianDowDiversified AwayGuardianDowDiversified Away100%

Significant diversification

The correlation between Guardian Capital Group and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardian Capital Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guardian Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardian Capital 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 Guardian Capital - 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 Guardian Capital Group to buy it.

Moving together with Guardian Stock

  0.63GS GOLDMAN SACHS CDRPairCorr
  0.7AMZN Amazon CDRPairCorr
  0.73WMT Walmart Inc CDRPairCorr
  0.62TCS TECSYS IncPairCorr
  0.66FFH-PF Fairfax FinancialPairCorr
  0.72ERE-UN European Residential RealPairCorr
  0.7Y Yellow Pages LimitedPairCorr
  0.69CRM SalesforceCom CDRPairCorr
  0.74LB Laurentian BankPairCorr
  0.64ET Evertz TechnologiesPairCorr
  0.74VLE Valeura EnergyPairCorr
  0.7NICU Magna MiningPairCorr
  0.61ENS E Split CorpPairCorr

Moving against Guardian Stock

  0.6PFE Pfizer Inc CDRPairCorr
  0.42TKU Tarku ResourcesPairCorr
  0.39QTWO Q2 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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Guardian Stock performing well and Guardian Capital 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 Guardian Capital'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BRK  0.73  0.00 (0.04)(0.02) 0.93 
 1.22 
 7.42 
JPM  1.07  0.22  0.12 (1.60) 1.12 
 1.91 
 16.24 
BOFA  1.06  0.18  0.12 (0.97) 0.87 
 2.05 
 11.92 
GOOG  1.28  0.32  0.14 (0.40) 1.43 
 3.61 
 9.26 
MSFT  0.85  0.03 (0.02)(0.05) 1.60 
 1.81 
 7.96 
IBM  1.02  0.02 (0.01) 0.10  1.68 
 2.07 
 8.74 
GS  1.23  0.24  0.14  2.03  1.12 
 2.43 
 17.38 
PFE  1.14 (0.14) 0.00 (0.33) 0.00 
 2.26 
 7.91 
AMZN  1.37  0.27  0.12 (0.57) 1.58 
 2.82 
 10.70 
WMT  0.86  0.21  0.15  4.49  0.95 
 2.14 
 4.98 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guardian Capital 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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Guardian Capital Corporate Management

Elected by the shareholders, the Guardian Capital's board of directors comprises two types of representatives: Guardian Capital inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Guardian. The board's role is to monitor Guardian Capital's management team and ensure that shareholders' interests are well served. Guardian Capital'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, Guardian Capital's outside directors are responsible for providing unbiased perspectives on the board's policies.
Robin LaceyHead ManagementProfile
Robert McLeanSenior TechnologyProfile
Rachel HindsonVice LegalProfile
Paula DunlopExecutive ResourcesProfile