Canadian Utilities Correlations

CU Stock

CAD 47.22 -0.02 -0.04%

The current 90-days correlation between Canadian Utilities and Brookfield Renewable Corp is -0.15 (i.e., Excellent diversification).When its correlation with a broad index is high, most of the stock's return is explained by market movement.

Canadian Utilities Correlation to Market

Strong inverse diversification

The correlation between Canadian Utilities and Dow Jones is -0.43, which Macroaxis classifies as Strong inverse diversification for the selected horizon. In portfolio terms, the overlap shows how much shared movement remains after combining both positions.

Correlation relationships for Canadian Utilities highlight alignment with similar exposures. This dataset is provided as reference and does not constitute guidance.

Moving together with Canadian Stock

0.76	ACL	ACL Construction	Pair Corr
0.62	CM-PS	Canadian Imperial Bank	Pair Corr
0.87	DR	Medical Facilities	Pair Corr
0.93	PPL	Pembina Pipeline Corp	Pair Corr
0.85	SLG	San Lorenzo Gold	Pair Corr
0.83	NPS	Canadian Large Cap Split	Pair Corr
0.87	ASCU	Arizona Sonoran Copper Earnings Call This Week	Pair Corr
0.66	WMT	Walmart CDR	Pair Corr
0.74	MU	Micron Technology	Pair Corr
0.72	SGE	Strategem Capital Corp	Pair Corr
0.9	NTR	Nutrien	Pair Corr
0.91	GVR	Grosvenor Resource Corp	Pair Corr
0.69	CXI	Currency Exchange	Pair Corr
0.85	BPO-PP	Brookfield Offi Pro	Pair Corr
0.93	IDL	Imaging Dynamics	Pair Corr

Moving against Canadian Stock

0.94	KKR	KKR Co Inc	Pair Corr
0.87	MSFT	Microsoft Corp CDR	Pair Corr
0.87	MSFT	Microsoft CDR	Pair Corr
0.87	ZMSF	MICROSOFT BMO CDR	Pair Corr
0.58	GOOG	Alphabet CDR	Pair Corr
0.58	GOOG	Alphabet CDR	Pair Corr
0.36	META	Meta Platforms CDR	Pair Corr
0.36	META	Meta CDR	Pair Corr

Related Correlations Analysis

	BEPC	ACO-X	BIP-PE	BIPC	AQN	TA	NPI	CPX	BEP-UN
BEPC		0.54	0.57	0.69	0.71	0.53	0.51	0.51	0.84	BEPC
ACO-X	0.54		0.54	0.12	0.4	0.08	0.96	0.75	0.87	ACO-X
BIP-PE	0.57	0.54		0.48	0.36	0.25	0.51	0.29	0.57	BIP-PE
BIPC	0.69	0.12	0.48		0.51	0.6	0.05	0.03	0.35	BIPC
AQN	0.71	0.4	0.36	0.51		0.48	0.43	0.47	0.6	AQN
TA	0.53	0.08	0.25	0.6	0.48		0.06	0.32	0.28	TA
NPI	0.51	0.96	0.51	0.05	0.43	0.06		0.71	0.85	NPI
CPX	0.51	0.75	0.29	0.03	0.47	0.32	0.71		0.73	CPX
BEP-UN	0.84	0.87	0.57	0.35	0.6	0.28	0.85	0.73		BEP-UN
	BEPC	ACO-X	BIP-PE	BIPC	AQN	TA	NPI	CPX	BEP-UN

Risk-Adjusted Indicators

Evaluating Canadian Stock requires separating price momentum from underlying operating strength versus competitors. Risk-adjusted metrics help compare Canadian Utilities' efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and help investors evaluate volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BEPC	1.50	0.06	0.03	0.01	2.09	-1.39	2.64	-3.66	11.33
ACO-X	0.69	0.24	0.34	-0.80	0.65	-0.79	1.53	-1.35	5.55
BIP-PE	0.38	-0.01	0.11	0.00	0.50	-0.45	1.03	-0.90	3.07
BIPC	1.24	-0.17	0.00	-0.40	0.00	0.00	1.87	-3.25	11.60
AQN	1.15	0.08	0.05	0.11	2.36	-1.17	2.52	-2.35	15.16
TA	1.76	-0.14	0.00	-0.43	0.00	0.00	3.19	-4.81	11.72
NPI	1.07	0.42	0.34	0.63	0.89	-1.21	2.60	-2.35	10.76
CPX	1.39	0.07	0.06	0.22	1.96	-1.38	2.92	-2.89	9.48
BEP-UN	1.24	0.19	0.15	0.38	1.40	-1.34	2.83	-2.45	9.04

Be your own money manager

Portfolio optimization matters because investors need a repeatable way to decide whether adding Canadian Utilities Limited improves expected return without taking on disproportionate risk. The better process compares expected return, volatility, and correlation before the position is increased or introduced.

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