SPTSX Dividend Correlations
| GSPTXDV Index | 373.69 0.79 0.21% |
The current 90-days correlation between SPTSX Dividend Arist and Thunderbird Entertainment Group is -0.15 (i.e., Good diversification). The correlation of SPTSX Dividend 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.
The ability to find closely correlated positions to SPTSX Dividend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPTSX Dividend 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 SPTSX Dividend - 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 SPTSX Dividend Aristocrats to buy it.
Moving together with SPTSX Index
| 0.84 | NVDA | NVIDIA CDR | PairCorr |
| 0.79 | AMZN | Amazon CDR | PairCorr |
| 0.68 | GOOG | Alphabet CDR | PairCorr |
| 0.81 | META | Meta Platforms CDR | PairCorr |
| 0.68 | TSLA | Tesla Inc CDR | PairCorr |
| 0.65 | AVGO | Broadcom Earnings Call This Week | PairCorr |
| 0.85 | WMT | Walmart Inc CDR | PairCorr |
| 0.66 | TNZ | Tenaz Energy Corp | PairCorr |
| 0.77 | NURS | Hydreight Technologies | PairCorr |
| 0.95 | EIT-UN | Canoe EIT Income | PairCorr |
| 0.87 | BRC | Blackrock Silver Corp | PairCorr |
| 0.75 | E | Enterprise Group | PairCorr |
| 0.83 | MCB | Mccoy Global | PairCorr |
| 0.67 | TOT | Total Energy Services | PairCorr |
| 0.74 | ABRA | AbraSilver Resource Corp | PairCorr |
| 0.94 | CHE-UN | Chemtrade Logistics | PairCorr |
| 0.83 | MTY | MTY Food Group | PairCorr |
| 0.9 | CHR | Chorus Aviation | PairCorr |
| 0.95 | CWB | Canadian Western Bank | PairCorr |
| 0.74 | RQP | RBC Target 2027 | PairCorr |
| 0.94 | NSCE | NBI Sustainable Canadian | PairCorr |
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 SPTSX Index performing well and SPTSX Dividend Index 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 SPTSX Dividend'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TBRD | 2.01 | (0.26) | 0.00 | (0.33) | 0.00 | 4.85 | 15.87 | |||
| FTG | 1.32 | 0.37 | 0.13 | (0.70) | 1.15 | 3.19 | 13.03 | |||
| CMG | 1.84 | (0.36) | 0.00 | (0.34) | 0.00 | 2.98 | 14.46 | |||
| ROOF | 2.36 | 0.65 | 0.08 | (0.82) | 2.01 | 9.52 | 18.67 | |||
| BDT | 1.90 | 0.47 | 0.12 | (0.66) | 1.98 | 3.79 | 20.64 | |||
| BRMI | 2.13 | (0.55) | 0.00 | (2.39) | 0.00 | 6.15 | 30.87 | |||
| BCHT | 2.66 | (0.47) | 0.00 | (2.31) | 0.00 | 5.68 | 14.04 | |||
| TGS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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SPTSX Dividend Distribution of Returns
Predicted Return Density |
| Returns |
What Drives a SPTSX Dividend Price Volatility?
Several factors can influence a index's market volatility:Industry
Specific events can influence volatility within a particular industry. For instance, a significant weather upheaval in a crucial oil-production site may cause oil prices to increase in the oil sector. The direct result will be the rise in the stock price of oil distribution companies. Similarly, any government regulation in a specific industry could negatively influence stock prices due to increased regulations on compliance that may impact the company's future earnings and growth.Political and Economic environment
When governments make significant decisions regarding trade agreements, policies, and legislation regarding specific industries, they will influence stock prices. Everything from speeches to elections may influence investors, who can directly influence the stock prices in any particular industry. The prevailing economic situation also plays a significant role in stock prices. When the economy is doing well, investors will have a positive reaction and hence, better stock prices and vice versa.The Company's Performance
Sometimes volatility will only affect an individual company. For example, a revolutionary product launch or strong earnings report may attract many investors to purchase the company. This positive attention will raise the company's stock price. In contrast, product recalls and data breaches may negatively influence a company's stock prices.SPTSX Dividend Against Global Markets
| CROBEX | 0.79 | |||||
| GSPTXDV | 0.21 | |||||
| PSI 20 | 0.04 | |||||
| NYA | 0.05 | |||||
| GDAXI | 0.18 | |||||
| Budapest | 1.28 | |||||
| IDX 30 | 1.48 | |||||
| TWII | 1.52 | |||||
| ISEQ 20 | 1.59 |
