Dividend Correlations

DF Stock

CAD 6.80 0.02 0.29%

The current 90-days correlation between Dividend 15 Split and Dividend Growth Split is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dividend 15 Split moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dividend Correlation With Market

Significant diversification

The correlation between Dividend 15 Split and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dividend 15 Split and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Dividend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dividend 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 Dividend - 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 Dividend 15 Split to buy it.

Moving together with Dividend Stock

0.92	RY	Royal Bank	Pair Corr
0.82	RY-PM	Royal Bank	Pair Corr
0.94	TD	Toronto Dominion Bank	Pair Corr
0.93	BNS	Bank of Nova Scotia	Pair Corr
0.85	PEAK	Sun Peak Metals	Pair Corr
0.78	TBL	Taiga Building Products	Pair Corr
0.86	ONV-H	Oronova Energy	Pair Corr
0.86	SCD	Scandium Canada	Pair Corr
0.83	TUF	Honey Badger Silver	Pair Corr
0.95	LUN	Lundin Mining	Pair Corr
0.86	FISH	Sailfish Royalty Corp	Pair Corr
0.91	BAU	Blue Star Gold	Pair Corr
0.84	ENB-PFU	Enbridge Pref L	Pair Corr
0.66	BEP-PG	Brookfield Renewable	Pair Corr
0.91	PGDC	Patagonia Gold Corp	Pair Corr
0.78	JET	Global Crossing Airlines	Pair Corr
0.86	DV	Dolly Varden Silver	Pair Corr
0.82	SAG	Sterling Metals Corp	Pair Corr
0.93	GRGD	Groupe Dynamite	Pair Corr
0.91	IAG	iA Financial	Pair Corr
0.65	CPL	Copper Lake Resources	Pair Corr
0.66	GDP	Golden Pursuit Resources	Pair Corr
0.91	AG	First Majestic Silver	Pair Corr
0.84	GCG	Guardian Capital	Pair Corr
0.78	GLXY	Galaxy Digital Holdings Earnings Call This Week	Pair Corr
0.91	SUP	Northern Superior	Pair Corr
0.67	BCE-PY	BCE Inc Pref	Pair Corr
0.93	DML	Denison Mines Corp	Pair Corr
0.89	TLRY	Tilray Inc	Pair Corr
0.75	ALA-PB	Altagas Pref	Pair Corr
0.67	ENB-PH	Enbridge H Cum	Pair Corr
0.87	FAP	abrdn Asia Pacific	Pair Corr
0.71	WELL	WELL Health Technologies	Pair Corr
0.84	OBE	Obsidian Energy	Pair Corr

Moving against Dividend Stock

0.71

ISGI

InsuraGuest Technologies

Pair Corr

Related Correlations Analysis

	FFN	DGS	DFN	FTN	LBS
FFN		0.91	0.96	0.99	0.94	FFN
DGS	0.91		0.95	0.92	0.88	DGS
DFN	0.96	0.95		0.95	0.94	DFN
FTN	0.99	0.92	0.95		0.95	FTN
LBS	0.94	0.88	0.94	0.95		LBS
	FFN	DGS	DFN	FTN	LBS

Risk-Adjusted Indicators

There is a big difference between Dividend Stock performing well and Dividend 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 Dividend'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
FFN	0.65	0.23	0.16	(6.39)	0.77	(0.76)	1.50	(1.72)	3.97
DGS	0.39	0.14	0.17	(31.40)	0.05	(0.47)	0.95	(0.67)	2.05
DFN	0.33	0.20	0.25	(2.76)	0.00	(0.43)	1.00	(0.59)	2.42
FTN	0.74	0.32	0.22	(2.36)	0.60	(0.85)	1.90	(1.85)	5.30
LBS	0.66	0.31	0.27	1.98	0.44	(0.82)	1.65	(1.40)	5.27

Be your own money manager

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