Cascades Correlations

CAS Stock

CAD 12.08 0.03 0.25%

The current 90-days correlation between Cascades and A W FOOD is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cascades moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cascades moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cascades Correlation With Market

Average diversification

The correlation between Cascades and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cascades and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cascades Stock

0.7	FDY	Faraday Copper Corp	Pair Corr
0.64	RCI-A	Rogers Communications	Pair Corr
0.77	CCL-A	CCL Industries	Pair Corr
0.66	EQX	Equinox Gold Corp	Pair Corr
0.81	DHT-UN	DRI Healthcare Trust	Pair Corr
0.7	CG	Centerra Gold	Pair Corr
0.8	LIS	Lithium South Development	Pair Corr
0.65	RBY	Rubellite Energy	Pair Corr
0.8	SCR	Strathcona Resources	Pair Corr
0.82	REG	Regulus Resources	Pair Corr
0.84	PRM	Big Pharma Split	Pair Corr
0.94	SUP	Northern Superior	Pair Corr
0.62	MOON	Blue Moon Zinc	Pair Corr
0.61	QNC	Quantum Numbers	Pair Corr

Moving against Cascades Stock

0.37

AML

Argus Metals Corp

Pair Corr

Related Correlations Analysis

	AW	MTY	MRE	SXP	IFX	PBL	ACQ	NEXE	NFI	WPK
AW		0.26	0.17	0.27	0.49	0.29	0.27	0.01	0.21	-0.03	AW
MTY	0.26		0.45	0.53	0.03	0.0	0.27	0.1	0.43	-0.15	MTY
MRE	0.17	0.45		0.52	0.29	0.07	0.7	0.5	0.81	-0.35	MRE
SXP	0.27	0.53	0.52		0.48	0.4	0.6	0.64	0.59	-0.54	SXP
IFX	0.49	0.03	0.29	0.48		0.65	0.59	0.51	0.46	-0.47	IFX
PBL	0.29	0.0	0.07	0.4	0.65		0.59	0.58	0.28	-0.54	PBL
ACQ	0.27	0.27	0.7	0.6	0.59	0.59		0.76	0.91	-0.79	ACQ
NEXE	0.01	0.1	0.5	0.64	0.51	0.58	0.76		0.62	-0.74	NEXE
NFI	0.21	0.43	0.81	0.59	0.46	0.28	0.91	0.62		-0.7	NFI
WPK	-0.03	-0.15	-0.35	-0.54	-0.47	-0.54	-0.79	-0.74	-0.7		WPK
	AW	MTY	MRE	SXP	IFX	PBL	ACQ	NEXE	NFI	WPK

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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

NFI	+ 0.91	ACQ
NFI	+ 0.81	MRE
NEXE	+ 0.76	ACQ
ACQ	+ 0.7	MRE
PBL	+ 0.65	IFX
NEXE	+ 0.64	SXP

High negative correlations

WPK	- 0.79	ACQ
WPK	- 0.74	NEXE
WPK	- 0.7	NFI
WPK	- 0.54	PBL
WPK	- 0.54	SXP
WPK	- 0.47	IFX

Risk-Adjusted Indicators

There is a big difference between Cascades Stock performing well and Cascades 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 Cascades' 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
AW	1.01	0.01	(0.05)	0.01	1.27	(1.05)	2.61	(2.06)	7.20
MTY	1.29	(0.03)	(0.02)	0.02	2.21	(1.45)	2.41	(2.13)	21.01
MRE	1.17	(0.09)	0.00	(3.08)	0.00	0.00	2.03	(2.11)	7.72
SXP	1.16	(0.12)	0.00	1.18	0.00	0.00	2.78	(2.71)	8.78
IFX	1.73	(0.15)	0.00	0.71	0.00	0.00	3.77	(4.55)	13.87
PBL	1.77	0.00	(0.01)	0.07	2.30	(1.88)	3.29	(3.59)	18.23
ACQ	1.79	(0.73)	0.00	(3.16)	0.00	0.00	3.18	(4.14)	17.29
NEXE	3.62	(0.34)	0.00	0.45	0.00	0.00	5.88	(9.52)	35.24
NFI	1.53	(0.51)	0.00	(1.40)	0.00	0.00	2.67	(4.23)	10.96
WPK	0.90	0.09	0.03	0.78	1.00	(1.03)	1.96	(1.81)	6.64

Be your own money manager

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