Capital Power Correlations

CPX Stock

CAD 69.85 3.74 5.08%

The current 90-days correlation between Capital Power and Brookfield Infrastructure Partners is -0.15 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Capital Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Capital Power moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Capital Power Correlation With Market

Significant diversification

The correlation between Capital Power and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Power and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Capital Stock

0.67	YRB	Yorbeau Resources	Pair Corr
0.9	GCU	Gunnison Copper Corp	Pair Corr
0.77	CBR	Cabral Gold	Pair Corr
0.65	MEG	MEG Energy Corp	Pair Corr
0.88	GIL	Gildan Activewear	Pair Corr
0.79	DRT	DIRTT Environmental Earnings Call Today	Pair Corr
0.92	ECOR	Ecora Resources plc	Pair Corr
0.89	BB	BlackBerry	Pair Corr
0.75	SBMI	Silver Bullet Mines	Pair Corr
0.79	ARTG	Artemis Gold	Pair Corr
0.63	CELL	Grid Battery Metals Earnings Call This Week	Pair Corr
0.87	VAU	Viva Gold Corp	Pair Corr
0.92	TD	Toronto Dominion Bank	Pair Corr
0.69	RAY-A	Stingray Group Earnings Call This Week	Pair Corr
0.79	SKYG	Sky Gold Corp	Pair Corr
0.62	BIP-PE	Brookfield Infrastructure	Pair Corr
0.71	PKI	Parkland Fuel	Pair Corr
0.67	RY	Royal Bank	Pair Corr
0.78	GGO	Galleon Gold Corp	Pair Corr
0.85	OTEX	Open Text Corp Earnings Call Today	Pair Corr
0.68	PDN	Paladin Energy	Pair Corr
0.89	SLI	Standard Lithium Earnings Call Tomorrow	Pair Corr
0.82	PME	Sentry Select Primary	Pair Corr
0.64	FOOD	Goodfood Market Corp	Pair Corr
0.86	KNT	K92 Mining Earnings Call This Week	Pair Corr
0.68	ELF	E L Financial Earnings Call Tomorrow	Pair Corr
0.87	HBM	HudBay Minerals Earnings Call This Week	Pair Corr

Moving against Capital Stock

0.4

ACU

Aurora Solar Technologies

Pair Corr

Related Correlations Analysis

	BIP-PE	ALA	BEP-UN	TA	EMA	CU	BEPC	BIPC	MXG	ACO-X
BIP-PE		0.16	0.74	0.74	0.37	0.44	0.74	0.71	0.14	0.41	BIP-PE
ALA	0.16		0.27	0.46	0.44	0.45	0.28	0.48	0.07	0.3	ALA
BEP-UN	0.74	0.27		0.93	0.71	0.79	0.98	0.87	0.32	0.8	BEP-UN
TA	0.74	0.46	0.93		0.78	0.82	0.96	0.94	0.23	0.82	TA
EMA	0.37	0.44	0.71	0.78		0.93	0.76	0.77	0.15	0.92	EMA
CU	0.44	0.45	0.79	0.82	0.93		0.8	0.79	0.27	0.96	CU
BEPC	0.74	0.28	0.98	0.96	0.76	0.8		0.91	0.26	0.82	BEPC
BIPC	0.71	0.48	0.87	0.94	0.77	0.79	0.91		0.11	0.74	BIPC
MXG	0.14	0.07	0.32	0.23	0.15	0.27	0.26	0.11		0.28	MXG
ACO-X	0.41	0.3	0.8	0.82	0.92	0.96	0.82	0.74	0.28		ACO-X
	BIP-PE	ALA	BEP-UN	TA	EMA	CU	BEPC	BIPC	MXG	ACO-X

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Risk-Adjusted Indicators

There is a big difference between Capital Stock performing well and Capital Power 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 Capital Power'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
BIP-PE	0.36	0.05	(0.09)	(5.33)	0.28	(0.46)	0.98	(0.60)	3.37
ALA	0.75	(0.03)	0.00	(0.15)	0.00	0.00	1.07	(1.83)	4.93
BEP-UN	1.47	0.24	0.08	8.65	1.74	(1.59)	3.60	(2.30)	7.03
TA	1.47	0.52	0.28	2.53	1.18	(1.83)	4.01	(2.32)	10.17
EMA	0.60	0.07	(0.04)	(0.86)	0.65	(0.63)	1.21	(1.28)	3.82
CU	0.45	0.05	(0.08)	(0.69)	0.48	(0.49)	0.99	(1.01)	2.91
BEPC	1.50	0.33	0.11	(10.82)	1.72	(1.60)	4.09	(2.50)	8.73
BIPC	1.24	0.25	0.11	0.72	1.41	(1.26)	2.69	(2.12)	8.15
MXG	1.36	(0.01)	0.00	0.18	0.00	0.00	2.71	(2.61)	6.41
ACO-X	0.58	0.07	(0.01)	0.52	0.55	(0.58)	1.17	(1.09)	3.22

Be your own money manager

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