Dexterra Correlations

Stocks . Canada . 
Stock . Dexterra Group
DXT Stock  CAD 8.83  0.12  1.38%   
The current 90-days correlation between Dexterra Group and Doman Building Materials is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dexterra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dexterra Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dexterra Correlation With Market

Very weak diversification

The correlation between Dexterra Group and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dexterra Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Dexterra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dexterra 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 Dexterra - 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 Dexterra Group to buy it.

Moving together with Dexterra Stock

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  0.93CIX CI Financial CorpPairCorr
  0.81T Telus CorpPairCorr
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  0.88DFN Dividend 15 SplitPairCorr
  0.84SPRX Sparx TechnologyPairCorr
  0.93FFH Fairfax FinancialPairCorr
  0.89JPM JPMorgan ChasePairCorr

Moving against Dexterra Stock

  0.88UNH UnitedHealth Group CDRPairCorr
  0.53BRK Berkshire Hathaway CDRPairCorr
  0.41CVS CVS HEALTH CDRPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BDT
+ 0.95
DBM
MTL
+ 0.95
DBM
MTL
+ 0.95
BDT
BDT
+ 0.91
TPZ
TPZ
+ 0.85
DBM
MTL
+ 0.84
TPZ
  
High negative correlations   
AD-UN
- 0.13
DBM

Risk-Adjusted Indicators

There is a big difference between Dexterra Stock performing well and Dexterra 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 Dexterra'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 Dexterra 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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Dexterra Corporate Management

Elected by the shareholders, the Dexterra's board of directors comprises two types of representatives: Dexterra inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Dexterra. The board's role is to monitor Dexterra's management team and ensure that shareholders' interests are well served. Dexterra's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Dexterra's outside directors are responsible for providing unbiased perspectives on the board's policies.
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