ATCO Correlations
| ACO-Y Stock | CAD 60.00 0.00 0.00% |
The current 90-days correlation between ATCO and Canadian Utilities Limited is 0.25 (i.e., Modest diversification). The correlation of ATCO 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.
ATCO Correlation With Market
Average diversification
The correlation between ATCO and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ATCO and DJI in the same portfolio, assuming nothing else is changed.
ATCO |
The ability to find closely correlated positions to ATCO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ATCO 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 ATCO - 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 ATCO to buy it.
Moving together with ATCO Stock
| 0.89 | WN | George Weston Limited | PairCorr |
| 0.86 | BBD-B | Bombardier | PairCorr |
| 0.8 | SU | Suncor Energy | PairCorr |
| 0.87 | L | Loblaw Companies | PairCorr |
| 0.75 | CCA | Cogeco Communications | PairCorr |
| 0.72 | TD | Toronto Dominion Bank | PairCorr |
| 0.73 | IAG | iA Financial | PairCorr |
| 0.8 | SFI | Solution Financial | PairCorr |
| 0.71 | KEC | Kiwetinohk Energy Corp | PairCorr |
| 0.61 | MKZ-UN | Mackenzie Mstr Un | PairCorr |
| 0.75 | NPTH | NeuPath Health | PairCorr |
| 0.62 | BNE | Bonterra Energy Corp | PairCorr |
| 0.83 | AVR | Avaron Mining Corp Earnings Call Today | PairCorr |
| 0.94 | POW | Power | PairCorr |
| 0.81 | IGM | IGM Financial | PairCorr |
| 0.66 | AX-UN | Artis Real Estate | PairCorr |
Moving against ATCO Stock
| 0.85 | ONEX | Onex Corp | PairCorr |
| 0.58 | FOOD | Goodfood Market Corp | PairCorr |
| 0.5 | PEX | Pacific Ridge Exploration | PairCorr |
Related Correlations Analysis
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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Risk-Adjusted Indicators
There is a big difference between ATCO Stock performing well and ATCO 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 ATCO'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CU | 0.63 | 0.17 | 0.17 | 4.25 | 0.31 | 1.66 | 4.54 | |||
| NPI | 1.67 | (0.37) | 0.00 | (0.16) | 0.00 | 2.33 | 31.00 | |||
| BIP-PE | 0.35 | 0.06 | (0.03) | 1.35 | 0.27 | 0.85 | 3.35 | |||
| AQN | 1.08 | 0.20 | 0.13 | 2.52 | 0.79 | 2.86 | 9.48 | |||
| BIPC | 1.30 | 0.15 | 0.07 | 0.32 | 1.45 | 2.61 | 7.69 | |||
| TA | 1.85 | (0.14) | 0.00 | (0.12) | 0.00 | 3.58 | 18.90 | |||
| BEPC | 1.52 | 0.22 | 0.08 | (1.02) | 1.40 | 4.10 | 10.21 | |||
| RGSI | 1.49 | 0.18 | 0.09 | 0.51 | 1.33 | 4.27 | 9.73 | |||
| ALA | 0.83 | (0.01) | 0.00 | (1.05) | 0.00 | 1.66 | 5.54 | |||
| CPX | 1.38 | (0.12) | 0.00 | (1.08) | 0.00 | 3.10 | 8.73 |
ATCO Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ATCO stock to make a market-neutral strategy. Peer analysis of ATCO could also be used in its relative valuation, which is a method of valuing ATCO by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
ATCO Corporate Management
Elected by the shareholders, the ATCO's board of directors comprises two types of representatives: ATCO inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ATCO. The board's role is to monitor ATCO's management team and ensure that shareholders' interests are well served. ATCO'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, ATCO's outside directors are responsible for providing unbiased perspectives on the board's policies.
| George Constantinescu | Executive Officer | Profile | |
| Dale Friesen | Senior Officer | Profile | |
| Derek Cook | Senior Controller | Profile | |
| Lisa Cooke | Senior Officer | Profile |