Dividend Correlations

Stocks . Canada . 
Stock . Dividend 15 Split
DF Stock  CAD 6.09  0.03  0.49%   
The current 90-days correlation between Dividend 15 Split and Dividend Growth Split is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dividend 15 Split moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dividend Correlation With Market

Very poor diversification

The correlation between Dividend 15 Split and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dividend 15 Split and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Dividend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dividend 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 Dividend - 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 Dividend 15 Split to buy it.

Moving together with Dividend Stock

  0.96FFH Fairfax FinancialPairCorr
  0.81FFH-PJ Fairfax FinancialPairCorr
  0.89FFH-PH Fairfax FinancialPairCorr
  0.92GS GOLDMAN SACHS CDRPairCorr
  0.84ELF-PH E L FinancialPairCorr
  0.95FFH-PG Fairfax Fin HldPairCorr
  0.62PGDC Patagonia Gold CorpPairCorr
  0.76DOL DollaramaPairCorr
  0.94SGR-U Slate Grocery REITPairCorr
  0.84KNT K92 MiningPairCorr
  0.88T Telus CorpPairCorr
  0.83TIH Toromont IndustriesPairCorr
  0.94TRI Thomson Reuters CorpPairCorr
  0.96APR-UN Automotive PropertiesPairCorr
  0.85PIC-A Premium IncomePairCorr
  0.81BEI-UN Boardwalk Real EstatePairCorr
  0.97STN StantecPairCorr
  0.92VISA Visa Inc CDRPairCorr
  0.9IAG iA FinancialPairCorr
  0.9GH GamehostPairCorr
  0.7NCX NorthIsle CopperPairCorr
  0.87OGN Orogen RoyaltiesPairCorr
  0.61AQN-PD Algonquin Power UtilitiesPairCorr
  0.94LNF Leons FurniturePairCorr
  0.61WRN Western CopperPairCorr
  0.92LB Laurentian BankPairCorr
  0.62MDI Major Drilling GroupPairCorr
  0.78CHP-UN Choice Properties RealPairCorr
  0.97TF Timbercreek FinancialPairCorr
  0.63MTB Mountain Boy MineralsPairCorr
  0.86RY-PN Royal BankPairCorr
  0.73L Loblaw CompaniesPairCorr
  0.71GMV GMV MineralsPairCorr
  0.86ELF-PF E L FinancialPairCorr
  0.95AI Atrium Mortgage InvePairCorr

Moving against Dividend Stock

  0.43AGET AGEDB TechnologyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Dividend Stock performing well and Dividend 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 Dividend'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.

Be your own money manager

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