CP All Correlations

CPPCY Stock

USD 13.38 0.80 5.64%

The current 90-days correlation between CP All PCL and Loblaw Companies Limited is -0.21 (i.e., Very good diversification). The correlation of CP All 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.

CP All Correlation With Market

Poor diversification

The correlation between CP All PCL and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CP All PCL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CP All could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CP All 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 CP All - 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 CP All PCL to buy it.

Moving together with CPPCY Pink Sheet

0.63	LUNR	Intuitive Machines	Pair Corr
0.61	RH	RH	Pair Corr
0.7	CSBB	CSB Bancorp	Pair Corr
0.74	RKLB	Rocket Lab USA Potential Growth	Pair Corr

Moving against CPPCY Pink Sheet

0.64	KR	Kroger Company	Pair Corr
0.44	BKRKF	PT Bank Rakyat	Pair Corr
0.44	PBCRY	Bank Central Asia	Pair Corr
0.44	FSLY	Fastly Class A	Pair Corr
0.35	KAEPY	Kansai Electric Power Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LBLCF	JSAIY	CRRFY	TSGTF	CRERF	JRONF	JSNSF	MTRAF	TSGTY	WHGRF
LBLCF		-0.15	0.72	-0.33	0.53	-0.53	-0.07	0.94	-0.17	0.71	LBLCF
JSAIY	-0.15		0.33	-0.1	0.29	-0.17	0.44	-0.16	-0.32	-0.31	JSAIY
CRRFY	0.72	0.33		-0.6	0.81	-0.66	0.28	0.7	-0.58	0.41	CRRFY
TSGTF	-0.33	-0.1	-0.6		-0.55	0.58	-0.22	-0.26	0.61	-0.32	TSGTF
CRERF	0.53	0.29	0.81	-0.55		-0.69	0.28	0.51	-0.69	0.26	CRERF
JRONF	-0.53	-0.17	-0.66	0.58	-0.69		-0.17	-0.5	0.68	-0.29	JRONF
JSNSF	-0.07	0.44	0.28	-0.22	0.28	-0.17		-0.05	-0.32	-0.16	JSNSF
MTRAF	0.94	-0.16	0.7	-0.26	0.51	-0.5	-0.05		-0.17	0.74	MTRAF
TSGTY	-0.17	-0.32	-0.58	0.61	-0.69	0.68	-0.32	-0.17		-0.19	TSGTY
WHGRF	0.71	-0.31	0.41	-0.32	0.26	-0.29	-0.16	0.74	-0.19		WHGRF
	LBLCF	JSAIY	CRRFY	TSGTF	CRERF	JRONF	JSNSF	MTRAF	TSGTY	WHGRF

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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

MTRAF	+ 0.94	LBLCF
CRERF	+ 0.81	CRRFY
WHGRF	+ 0.74	MTRAF
CRRFY	+ 0.72	LBLCF
WHGRF	+ 0.71	LBLCF
MTRAF	+ 0.7	CRRFY

High negative correlations

TSGTY	- 0.69	CRERF
JRONF	- 0.69	CRERF
JRONF	- 0.66	CRRFY
TSGTF	- 0.6	CRRFY
TSGTY	- 0.58	CRRFY
CRERF	- 0.55	TSGTF

Risk-Adjusted Indicators

There is a big difference between CPPCY Pink Sheet performing well and CP All 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 CP All'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
LBLCF	0.96	0.16	0.07	(14.87)	1.01	(1.12)	2.48	(1.63)	6.21
JSAIY	1.13	(0.02)	0.00	(0.07)	0.00	0.00	2.01	(2.10)	13.57
CRRFY	0.92	0.05	0.01	0.17	1.02	(1.14)	1.69	(1.96)	6.76
TSGTF	1.73	0.08	(0.01)	(0.08)	2.41	(3.86)	6.27	(6.58)	15.11
CRERF	1.20	0.00	0.02	0.00	1.52	(3.45)	4.56	(3.84)	19.82
JRONF	0.34	(0.17)	0.00	1.08	0.00	0.00	0.00	0.00	11.39
JSNSF	2.54	0.15	0.01	(1.24)	3.80	(6.14)	7.38	(8.37)	27.86
MTRAF	0.66	0.08	0.02	0.53	0.82	(1.01)	1.85	(2.28)	6.57
TSGTY	1.14	0.01	0.00	0.04	0.00	0.00	3.26	(4.61)	16.77
WHGRF	0.65	0.26	0.00	3.74	0.00	0.00	0.00	0.00	15.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in CP All 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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