Bank of Nova Scotia Correlations
BNS Stock | CAD 63.62 0.47 0.74% |
The correlation of Bank of Nova Scotia 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bank of Nova Scotia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of Nova moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Bank of Nova and NYA is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Nova and NYA in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank of Nova Scotia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Nova Scotia 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 Bank of Nova Scotia - 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 Bank of Nova to buy it.
Moving together with Bank Stock
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Moving against Bank Stock
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Risk-Adjusted Indicators
There is a big difference between Bank Stock performing well and Bank of Nova Scotia 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 Bank of Nova Scotia'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
TD | 0.60 | (0.06) | (0.10) | (0.01) | 0.86 | 1.29 | 3.30 | |||
RY | 0.57 | (0.04) | (0.07) | 0.03 | 0.74 | 0.95 | 3.34 | |||
BMO | 0.71 | (0.11) | 0.00 | (0.04) | 0.00 | 1.23 | 5.54 | |||
CM | 0.65 | 0.04 | 0.03 | 0.13 | 0.63 | 1.21 | 3.85 | |||
ENB | 0.69 | 0.00 | (0.04) | 0.08 | 0.76 | 1.48 | 4.05 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bank of Nova Scotia 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.Did you try this?
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Bank of Nova Scotia Corporate Directors
Bank of Nova Scotia corporate directors refer to members of a Bank of Nova Scotia board of directors. The board of directors generally takes responsibility for the Bank of Nova Scotia's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Bank of Nova Scotia's board members must vote for the resolution. The Bank of Nova Scotia board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Ronald Brenneman | Independent Director | Profile | |
Eduardo Cortes | Not independent Director | Profile | |
Susan Segal | Independent Director | Profile | |
Barbara Thomas | Independent Director | Profile |
Already Invested in Bank of Nova?
The danger of trading Bank of Nova is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Bank of Nova Scotia is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Bank of Nova Scotia. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Bank of Nova Scotia is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Bank of Nova Scotia is a strong investment it is important to analyze Bank of Nova Scotia's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Bank of Nova Scotia's future performance. For an informed investment choice regarding Bank Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bank of Nova. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Complementary Tools for Bank Stock analysis
When running Bank of Nova Scotia's price analysis, check to measure Bank of Nova Scotia's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bank of Nova Scotia is operating at the current time. Most of Bank of Nova Scotia's value examination focuses on studying past and present price action to predict the probability of Bank of Nova Scotia's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bank of Nova Scotia's price. Additionally, you may evaluate how the addition of Bank of Nova Scotia to your portfolios can decrease your overall portfolio volatility.
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