Canadian Life Correlations

Preferred Stocks . Canada . 
Preferred Stock . Canadian Life Companies
LFE-PB Preferred Stock  CAD 10.53  0.02  0.19%   
The current 90-days correlation between Canadian Life Companies and Brookfield is -0.02 (i.e., Good diversification). The correlation of Canadian Life 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.

Canadian Life Correlation With Market

Good diversification

The correlation between Canadian Life Companies and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Life Companies and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Canadian Life could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Life 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 Canadian Life - 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 Canadian Life Companies to buy it.

Moving together with Canadian Preferred Stock

  0.9BN BrookfieldPairCorr
  0.9BAM Brookfield Asset ManPairCorr
  0.82PVF-UN Partners Value InvesPairCorr
  0.92IGM IGM FinancialPairCorr
  0.91ONEX Onex CorpPairCorr
  0.9JPM JPMorgan ChasePairCorr
  0.9BOFA Bank of AmericaPairCorr
  0.72RY-PO Royal BankPairCorr
  0.87RY-PM Royal BankPairCorr
  0.87RY-PS Royal BankPairCorr
  0.86RY Royal BankPairCorr
  0.86RY-PJ Royal BankPairCorr
  0.75RY-PN Royal BankPairCorr
  0.64MTY MTY Food GroupPairCorr
  0.73AIDX HealWELL AIPairCorr

Moving against Canadian Preferred Stock

  0.75TD Toronto Dominion BankPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Canadian Preferred Stock performing well and Canadian Life 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 Canadian Life'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 Canadian Life 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?

Run Global Correlations Now

   

Global Correlations

Find global opportunities by holding instruments from different markets
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY