MTY Food Correlations

Stocks . Canada . 
Stock . MTY Food Group
MTY Stock  CAD 42.35  0.13  0.31%   
The current 90-days correlation between MTY Food Group and A W FOOD is -0.23 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MTY Food moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MTY Food Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MTY Food Correlation With Market

Very poor diversification

The correlation between MTY Food Group and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MTY Food Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MTY Food could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MTY Food 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 MTY Food - 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 MTY Food Group to buy it.

Moving together with MTY Stock

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Moving against MTY Stock

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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

KITS
+ 0.92
PZA
ACQ
+ 0.87
PZA
KITS
+ 0.83
ACQ
CKI
+ 0.67
ODD
KITS
+ 0.64
GBT
TWC
+ 0.6
AW
  

High negative correlations

ODD
- 0.9
PZA
KITS
- 0.85
ODD
ODD
- 0.82
ACQ
KITS
- 0.77
CKI
CKI
- 0.69
TWC
CKI
- 0.69
PZA

Risk-Adjusted Indicators

There is a big difference between MTY Stock performing well and MTY Food 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 MTY Food'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AW  0.78 (0.02) 0.00 (0.36) 0.00 
 0.00 
 1.92 
(1.89)
 5.29 
MRE  1.19  0.06  0.00  0.59  1.39 
(1.39)
 2.70 
(2.12)
 8.42 
PZA  0.54  0.18  0.18  0.98  0.37 
(0.61)
 1.33 
(1.12)
 3.33 
ACQ  1.79  0.21  0.05  0.49  3.26 
(1.83)
 4.12 
(3.01)
 15.96 
PBL  1.27 (0.04) 0.00 (0.17) 0.00 
 0.00 
 2.85 
(2.28)
 7.67 
TWC  0.68  0.01  0.00  0.04  0.00 
 0.00 
 1.92 
(1.88)
 7.67 
GBT  1.66  0.03 (0.01) 0.22  2.01 
(2.66)
 4.57 
(3.61)
 12.69 
ODD  5.80 (0.89) 0.00  4.70  0.00 
 0.00 
 12.50 
(12.50)
 67.50 
CKI  1.33 (0.09) 0.00 (0.56) 0.00 
 0.00 
 3.46 
(4.47)
 12.24 
KITS  2.14  0.51  0.19  1.20  2.11 
(2.51)
 6.66 
(2.74)
 18.46 

Be your own money manager

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