Canadian Apartment Correlations

CDPYF Stock

USD 33.14 0.25 0.76%

The current 90-days correlation between Canadian Apartment and UDR Inc is 0.45 (i.e., Very weak diversification). The correlation of Canadian Apartment 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Canadian Apartment Correlation With Market

Average diversification

The correlation between Canadian Apartment Properties and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Apartment Properties and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Canadian Pink Sheet

0.9	KB	KB Financial Group	Pair Corr
0.88	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.82	WF	Woori Financial Group Earnings Call Tomorrow	Pair Corr
0.78	PTHL	Pheton Holdings	Pair Corr
0.69	FPAFF	First Pacific	Pair Corr
0.63	LTRY	Lottery, Common Stock	Pair Corr
0.72	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.81	CAT	Caterpillar	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.8	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.7	CVX	Chevron Corp	Pair Corr
0.84	BA	Boeing Earnings Call This Week	Pair Corr
0.79	BAC	Bank of America	Pair Corr
0.82	CSCO	Cisco Systems	Pair Corr
0.83	PFE	Pfizer Inc	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.87	GE	GE Aerospace Earnings Call Today	Pair Corr

Moving against Canadian Pink Sheet

0.34	OPINL	Office Properties Income Earnings Call This Week	Pair Corr
0.36	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BSRTF	MHCUF	UDR	IIPZF	RIOCF	ARESF	AETUF	CWYUF	BOWFF
BSRTF		0.89	-0.21	0.71	0.65	0.44	0.0	0.77	0.76	BSRTF
MHCUF	0.89		-0.32	0.8	0.78	0.52	0.0	0.82	0.83	MHCUF
UDR	-0.21	-0.32		-0.39	-0.32	-0.17	0.0	-0.2	-0.24	UDR
IIPZF	0.71	0.8	-0.39		0.87	0.53	0.0	0.87	0.92	IIPZF
RIOCF	0.65	0.78	-0.32	0.87		0.65	0.0	0.89	0.87	RIOCF
ARESF	0.44	0.52	-0.17	0.53	0.65		0.0	0.5	0.58	ARESF
AETUF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AETUF
CWYUF	0.77	0.82	-0.2	0.87	0.89	0.5	0.0		0.89	CWYUF
BOWFF	0.76	0.83	-0.24	0.92	0.87	0.58	0.0	0.89		BOWFF
	BSRTF	MHCUF	UDR	IIPZF	RIOCF	ARESF	AETUF	CWYUF	BOWFF

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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

BOWFF	+ 0.92	IIPZF
MHCUF	+ 0.89	BSRTF
CWYUF	+ 0.89	RIOCF
BOWFF	+ 0.89	CWYUF
RIOCF	+ 0.87	IIPZF
CWYUF	+ 0.87	IIPZF

High negative correlations

IIPZF	- 0.39	UDR
RIOCF	- 0.32	UDR
UDR	- 0.32	MHCUF
BOWFF	- 0.24	UDR
UDR	- 0.21	BSRTF
CWYUF	- 0.2	UDR

Risk-Adjusted Indicators

There is a big difference between Canadian Pink Sheet performing well and Canadian Apartment 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 Canadian Apartment'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
BSRTF	0.72	0.09	(0.04)	2.86	0.74	(0.76)	1.41	(1.15)	3.90
MHCUF	0.62	0.23	0.09	(8.52)	0.16	(1.21)	2.02	(1.10)	5.42
UDR	0.90	(0.09)	(0.12)	(0.01)	1.12	(0.96)	1.76	(1.78)	6.07
IIPZF	1.47	0.52	0.12	(2.19)	1.21	(2.42)	4.72	(2.66)	20.84
RIOCF	0.79	0.10	0.00	0.49	0.92	(0.85)	1.83	(1.39)	5.48
ARESF	1.18	0.33	0.06	(1.05)	1.15	(2.33)	2.69	(2.50)	17.46
AETUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWYUF	0.53	0.08	(0.03)	0.51	0.50	(0.72)	1.52	(1.06)	4.45
BOWFF	0.99	0.28	0.06	22.63	1.31	(1.12)	2.36	(2.40)	10.94

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Our tools can tell you how much better you can do entering a position in Canadian Apartment 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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Canadian Apartment Corporate Management

Jodi Lieberman	Culture People	Profile
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Andrew Wood	Ex Technology	Profile
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