Stantec Correlations

STN Stock

CAD 136.10 1.17 0.85%

The current 90-days correlation between Stantec and AtkinsRealis Group is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stantec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stantec moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stantec Correlation With Market

Very weak diversification

The correlation between Stantec and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stantec and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Stantec Stock

0.89

SOY

SunOpta

Pair Corr

Moving against Stantec Stock

0.92	PTEC	Principal Technologies	Pair Corr
0.89	POW	Power	Pair Corr
0.81	IMG	IAMGold	Pair Corr
0.76	ELD	Eldorado Gold Corp	Pair Corr
0.64	ISRG	Intuitive Surgical CDR	Pair Corr
0.6	GUD	Knight Therapeutics	Pair Corr
0.6	AOV	Amotiv Limited	Pair Corr
0.42	PSI	Pason Systems	Pair Corr
0.35	DRT	DIRTT Environmental	Pair Corr
0.32	NTH	Nord Precious Metals	Pair Corr

Related Correlations Analysis

	ATRL	BBD-A	BBD-B	EFN	CAE	TIH	WSP	BDGI	TFII	ARE
ATRL		-0.73	-0.73	0.48	0.22	-0.49	0.93	-0.68	-0.18	-0.35	ATRL
BBD-A	-0.73		1.0	-0.43	0.32	0.65	-0.8	0.57	0.54	0.57	BBD-A
BBD-B	-0.73	1.0		-0.43	0.31	0.65	-0.8	0.57	0.53	0.57	BBD-B
EFN	0.48	-0.43	-0.43		-0.06	-0.07	0.52	-0.19	-0.34	-0.18	EFN
CAE	0.22	0.32	0.31	-0.06		0.38	0.14	0.05	0.8	0.52	CAE
TIH	-0.49	0.65	0.65	-0.07	0.38		-0.53	0.75	0.52	0.73	TIH
WSP	0.93	-0.8	-0.8	0.52	0.14	-0.53		-0.7	-0.23	-0.51	WSP
BDGI	-0.68	0.57	0.57	-0.19	0.05	0.75	-0.7		0.37	0.76	BDGI
TFII	-0.18	0.54	0.53	-0.34	0.8	0.52	-0.23	0.37		0.63	TFII
ARE	-0.35	0.57	0.57	-0.18	0.52	0.73	-0.51	0.76	0.63		ARE
	ATRL	BBD-A	BBD-B	EFN	CAE	TIH	WSP	BDGI	TFII	ARE

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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

BBD-B	+ 1.0	BBD-A
WSP	+ 0.93	ATRL
TFII	+ 0.8	CAE
ARE	+ 0.76	BDGI
BDGI	+ 0.75	TIH
ARE	+ 0.73	TIH

High negative correlations

WSP	- 0.8	BBD-B
WSP	- 0.8	BBD-A
BBD-B	- 0.73	ATRL
BBD-A	- 0.73	ATRL
BDGI	- 0.7	WSP
BDGI	- 0.68	ATRL

Risk-Adjusted Indicators

There is a big difference between Stantec Stock performing well and Stantec 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 Stantec'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
ATRL	1.58	(0.11)	0.00	(0.18)	0.00	0.00	2.69	(3.06)	7.98
BBD-A	1.85	0.28	0.09	0.52	2.29	(1.81)	3.72	(3.32)	12.16
BBD-B	2.00	0.26	0.08	0.55	2.58	(2.00)	4.19	(4.35)	12.41
EFN	0.93	(0.06)	0.00	(0.04)	0.00	0.00	1.41	(1.70)	8.09
CAE	1.26	0.08	0.05	0.18	1.33	(1.38)	2.94	(2.28)	7.36
TIH	1.10	0.08	0.03	0.24	1.50	(1.09)	2.14	(2.00)	12.66
WSP	0.93	(0.14)	0.00	(0.11)	0.00	0.00	1.72	(2.03)	7.24
BDGI	1.25	0.21	0.11	0.44	1.41	(1.36)	2.79	(2.54)	9.23
TFII	1.85	0.26	0.10	0.49	2.00	(2.00)	3.66	(3.32)	11.93
ARE	2.10	0.34	0.13	0.53	2.05	(2.36)	4.92	(3.78)	18.60

Be your own money manager

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