Trican Well Correlations

TCW Stock

CAD 5.45 0.08 1.45%

The current 90-days correlation between Trican Well Service and Precision Drilling is 0.49 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Trican Well moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Trican Well Service moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Trican Well Correlation With Market

Modest diversification

The correlation between Trican Well Service and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trican Well Service and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Trican Stock

0.8	ENS	E Split Corp	Pair Corr
0.62	GSTM	Goldstorm Metals Corp	Pair Corr

Moving against Trican Stock

0.64

TGO

TeraGo Inc

Pair Corr

Related Correlations Analysis

	PD	PSI	KEC	SDE	EU	MER	MATR	NOA	TOT	CJ
PD		0.54	0.56	0.63	-0.03	0.71	-0.43	-0.33	0.82	0.65	PD
PSI	0.54		-0.05	0.54	0.38	0.72	0.03	0.25	0.53	0.68	PSI
KEC	0.56	-0.05		0.14	-0.49	0.16	-0.28	-0.54	0.34	0.02	KEC
SDE	0.63	0.54	0.14		0.61	0.66	-0.69	-0.02	0.84	0.9	SDE
EU	-0.03	0.38	-0.49	0.61		0.25	-0.34	0.39	0.29	0.59	EU
MER	0.71	0.72	0.16	0.66	0.25		-0.33	-0.13	0.78	0.8	MER
MATR	-0.43	0.03	-0.28	-0.69	-0.34	-0.33		0.54	-0.7	-0.58	MATR
NOA	-0.33	0.25	-0.54	-0.02	0.39	-0.13	0.54		-0.31	-0.06	NOA
TOT	0.82	0.53	0.34	0.84	0.29	0.78	-0.7	-0.31		0.83	TOT
CJ	0.65	0.68	0.02	0.9	0.59	0.8	-0.58	-0.06	0.83		CJ
	PD	PSI	KEC	SDE	EU	MER	MATR	NOA	TOT	CJ

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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

CJ	+ 0.9	SDE
TOT	+ 0.84	SDE
CJ	+ 0.83	TOT
TOT	+ 0.82	PD
CJ	+ 0.8	MER
TOT	+ 0.78	MER

High negative correlations

TOT	- 0.7	MATR
MATR	- 0.69	SDE
CJ	- 0.58	MATR
NOA	- 0.54	KEC
EU	- 0.49	KEC
MATR	- 0.43	PD

Risk-Adjusted Indicators

There is a big difference between Trican Stock performing well and Trican Well 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 Trican Well'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
PD	1.48	0.17	0.07	0.61	1.77	(1.66)	2.94	(2.29)	12.22
PSI	1.11	(0.05)	0.00	(0.03)	0.00	0.00	2.16	(2.13)	7.33
KEC	1.00	0.06	0.02	0.21	1.04	(1.35)	2.72	(1.54)	7.72
SDE	1.89	0.29	0.12	3.03	1.72	(2.35)	4.55	(2.42)	10.86
EU	3.24	0.23	0.05	0.17	5.20	(3.52)	6.53	(7.14)	27.45
MER	1.29	0.06	0.01	(1.15)	1.40	(1.61)	2.45	(2.31)	8.44
MATR	1.61	(0.30)	0.00	(0.28)	0.00	0.00	3.32	(2.73)	20.00
NOA	1.98	(0.04)	(0.01)	0.01	4.69	(1.85)	3.39	(3.43)	28.14
TOT	1.29	0.29	0.15	0.67	1.31	(1.57)	3.33	(1.79)	9.00
CJ	1.07	0.14	0.07	0.38	1.34	(1.10)	2.53	(2.12)	7.70

Be your own money manager

Our tools can tell you how much better you can do entering a position in Trican Well 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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Trican Well Corporate Executives

Elected by the shareholders, the Trican Well's board of directors comprises two types of representatives: Trican Well inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Trican. The board's role is to monitor Trican Well's management team and ensure that shareholders' interests are well served. Trican Well'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, Trican Well's outside directors are responsible for providing unbiased perspectives on the board's policies.

Robert Skilnick

Chief Financial Officer

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