Canadian Life Correlations

LFE Stock

CAD 6.47 0.07 1.09%

The current 90-days correlation between Canadian Life Companies and Brompton Lifeco Split is 0.47 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canadian Life moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Life Companies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Canadian Life Correlation With Market

Significant diversification

The correlation between Canadian Life Companies and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Life Companies and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Canadian Life 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 Life 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 Life - 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 Life Companies to buy it.

Moving together with Canadian Stock

0.86	III	Imperial Metals	Pair Corr
0.66	TAU	Thesis Gold	Pair Corr
0.85	DGS	Dividend Growth Split	Pair Corr
0.93	DF	Dividend 15 Split	Pair Corr
0.79	ESI	Ensign Energy Services	Pair Corr
0.94	LCS	Brompton Lifeco Split	Pair Corr
0.83	TVE	Tamarack Valley Energy	Pair Corr
0.81	MEG	MEG Energy Corp	Pair Corr
0.7	MG	Magna International	Pair Corr
0.78	CS	Capstone Mining Corp	Pair Corr
0.77	CERT	Cerrado Gold Corp	Pair Corr
0.77	RIO	Rio2 Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LCS	BTCT	PIC-A	RS	PNP	DFN	DS	XTD	PWI
LCS		-0.59	0.6	0.08	-0.84	0.97	0.92	0.96	0.9	LCS
BTCT	-0.59		-0.74	-0.23	0.54	-0.63	-0.66	-0.53	-0.46	BTCT
PIC-A	0.6	-0.74		0.58	-0.64	0.67	0.79	0.65	0.55	PIC-A
RS	0.08	-0.23	0.58		-0.07	0.11	0.26	0.17	-0.04	RS
PNP	-0.84	0.54	-0.64	-0.07		-0.81	-0.85	-0.83	-0.8	PNP
DFN	0.97	-0.63	0.67	0.11	-0.81		0.93	0.97	0.92	DFN
DS	0.92	-0.66	0.79	0.26	-0.85	0.93		0.92	0.86	DS
XTD	0.96	-0.53	0.65	0.17	-0.83	0.97	0.92		0.94	XTD
PWI	0.9	-0.46	0.55	-0.04	-0.8	0.92	0.86	0.94		PWI
	LCS	BTCT	PIC-A	RS	PNP	DFN	DS	XTD	PWI

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

DFN	+ 0.97	LCS
XTD	+ 0.97	DFN
XTD	+ 0.96	LCS
PWI	+ 0.94	XTD
DS	+ 0.93	DFN
DS	+ 0.92	LCS

High negative correlations

DS	- 0.85	PNP
PNP	- 0.84	LCS
XTD	- 0.83	PNP
DFN	- 0.81	PNP
PWI	- 0.8	PNP
PIC-A	- 0.74	BTCT

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian Life 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 Life'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
LCS	0.75	0.19	0.11	0.53	0.93	(0.82)	1.45	(1.55)	4.43
BTCT	2.20	(0.34)	0.00	(0.23)	0.00	0.00	5.54	(4.23)	20.01
PIC-A	0.91	0.28	0.21	1.40	0.62	(1.14)	2.00	(1.64)	5.64
RS	0.56	(0.07)	0.00	(0.25)	0.00	0.00	0.95	(1.41)	3.33
PNP	2.20	(0.58)	0.00	(0.44)	0.00	0.00	4.34	(5.09)	15.95
DFN	0.42	0.18	0.11	1.12	0.38	(0.51)	1.15	(0.56)	4.56
DS	0.62	0.17	0.06	(0.60)	0.54	(0.72)	1.40	(1.12)	3.39
XTD	1.34	0.30	0.14	0.78	1.46	(1.53)	3.65	(2.43)	7.74
PWI	0.69	0.00	0.04	0.00	0.62	(0.80)	2.26	(1.56)	4.62

Be your own money manager

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