Water Ways Correlations
| WWT Stock | CAD 0.01 0.01 50.00% |
The current 90-days correlation between Water Ways Technologies and Clarke Inc is -0.2 (i.e., Good diversification). The correlation of Water Ways 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.
Water Ways Correlation With Market
Significant diversification
The correlation between Water Ways Technologies and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Water Ways Technologies and DJI in the same portfolio, assuming nothing else is changed.
Water |
The ability to find closely correlated positions to Water Ways could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Water Ways 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 Water Ways - 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 Water Ways Technologies to buy it.
Moving together with Water Stock
Moving against Water Stock
| 0.8 | RBA | Ritchie Bros Auctioneers | PairCorr |
| 0.77 | DAY | Dayforce | PairCorr |
| 0.77 | EIT-UN | Canoe EIT Income | PairCorr |
| 0.73 | Y | Yellow Pages Limited | PairCorr |
| 0.72 | ENS | E Split Corp | PairCorr |
| 0.71 | DFN | Dividend 15 Split | PairCorr |
| 0.7 | DBO | D Box Technologies | PairCorr |
| 0.69 | TCS | TECSYS Inc | PairCorr |
| 0.67 | ET | Evertz Technologies | PairCorr |
| 0.65 | FFH-PH | Fairfax Financial | PairCorr |
| 0.63 | NOA | North American Const | PairCorr |
| 0.62 | FSZ | Fiera Capital | PairCorr |
| 0.6 | PRU | Perseus Mining | PairCorr |
| 0.59 | VBNK | VersaBank | PairCorr |
| 0.57 | FGAA-U | FG Acquisition Corp | PairCorr |
| 0.57 | BBUC | Brookfield Business Corp | PairCorr |
| 0.55 | AAPL | Apple Inc CDR | PairCorr |
| 0.52 | PEY | Peyto ExplorationDevel | PairCorr |
| 0.52 | ARX | ARC Resources | PairCorr |
| 0.49 | FC | Firm Capital Mortgage | PairCorr |
| 0.46 | CGG | China Gold International | PairCorr |
| 0.42 | TUF | Honey Badger Silver | PairCorr |
| 0.81 | HUT | Hut 8 Mining | PairCorr |
| 0.8 | RY-PM | Royal Bank | PairCorr |
| 0.78 | RY-PJ | Royal Bank | PairCorr |
| 0.75 | VLE | Valeura Energy | PairCorr |
| 0.75 | DGS | Dividend Growth Split | PairCorr |
| 0.75 | RY | Royal Bank | PairCorr |
| 0.74 | ENS-PA | E Split Corp | PairCorr |
| 0.68 | ERE-UN | European Residential Real | PairCorr |
| 0.68 | EIF | Exchange Income | PairCorr |
| 0.65 | RX | Biosyent | PairCorr |
| 0.64 | FFH-PF | Fairfax Financial | 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 Water Stock performing well and Water Ways 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 Water Ways' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CKI | 0.15 | (0.03) | 0.00 | 4.18 | 0.00 | 0.42 | 1.69 | |||
| ACD | 1.06 | (0.14) | 0.00 | (0.75) | 0.00 | 2.25 | 9.53 | |||
| DRX | 2.18 | (0.12) | 0.00 | 0.34 | 0.00 | 4.20 | 16.02 | |||
| ALC | 0.79 | 0.05 | 0.03 | (0.29) | 0.86 | 1.53 | 6.35 | |||
| CRP | 1.31 | 0.06 | 0.02 | 0.39 | 1.82 | 4.43 | 12.48 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Water Ways 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?
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Water Ways Corporate Management
Elected by the shareholders, the Water Ways' board of directors comprises two types of representatives: Water Ways inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Water. The board's role is to monitor Water Ways' management team and ensure that shareholders' interests are well served. Water Ways' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Water Ways' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Dor Sneh | Chief Officer | Profile | |
| Yaron Dichter | Head Department | Profile | |
| Tal Weil | Head Agronomist | Profile | |
| Amir Eylon | VP Projects | Profile | |
| Daniel Bloch | Legal Director | Profile | |
| Asi Levi | Chief Officer | Profile |