Spin Master Correlations

TOY Stock

CAD 19.94 0.04 0.20%

The current 90-days correlation between Spin Master Corp and Richelieu Hardware is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Spin Master moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Spin Master Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Spin Master Correlation With Market

Significant diversification

The correlation between Spin Master Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spin Master Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Spin Stock

0.88	CERT	Cerrado Gold Corp	Pair Corr
0.86	CS	Capstone Mining Corp	Pair Corr
0.77	RIO	Rio2 Earnings Call This Week	Pair Corr
0.76	TVE	Tamarack Valley Energy	Pair Corr
0.73	DGS	Dividend Growth Split	Pair Corr
0.71	AAPL	Apple Inc CDR	Pair Corr
0.71	AAPL	Apple CDR	Pair Corr
0.67	CGG	China Gold International Earnings Call This Week	Pair Corr
0.62	GOOG	Alphabet CDR	Pair Corr
0.57	MEG	MEG Energy Corp	Pair Corr
0.55	AVGO	Broadcom Split	Pair Corr
0.49	NVDA	NVIDIA CDR	Pair Corr
0.49	NVDA	Nvidia CDR Earnings Call This Week	Pair Corr
0.36	MG	Magna International	Pair Corr
0.31	MSFT	Microsoft Corp CDR	Pair Corr
0.31	MSFT	Microsoft CDR	Pair Corr

Related Correlations Analysis

	RCH	LNF	GOOS	PET	WPK	NFI	TWC	ICE	AW	MTY
RCH		0.24	-0.02	-0.25	0.66	-0.33	-0.73	0.7	-0.11	-0.62	RCH
LNF	0.24		-0.24	0.23	0.01	0.38	-0.1	0.0	-0.15	0.35	LNF
GOOS	-0.02	-0.24		-0.05	0.03	-0.43	0.31	0.31	-0.08	-0.22	GOOS
PET	-0.25	0.23	-0.05		-0.28	0.7	0.33	-0.57	0.6	0.67	PET
WPK	0.66	0.01	0.03	-0.28		-0.42	-0.61	0.6	0.03	-0.54	WPK
NFI	-0.33	0.38	-0.43	0.7	-0.42		0.27	-0.73	0.29	0.84	NFI
TWC	-0.73	-0.1	0.31	0.33	-0.61	0.27		-0.61	0.1	0.56	TWC
ICE	0.7	0.0	0.31	-0.57	0.6	-0.73	-0.61		-0.36	-0.81	ICE
AW	-0.11	-0.15	-0.08	0.6	0.03	0.29	0.1	-0.36		0.32	AW
MTY	-0.62	0.35	-0.22	0.67	-0.54	0.84	0.56	-0.81	0.32		MTY
	RCH	LNF	GOOS	PET	WPK	NFI	TWC	ICE	AW	MTY

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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

MTY	+ 0.84	NFI
ICE	+ 0.7	RCH
NFI	+ 0.7	PET
MTY	+ 0.67	PET
WPK	+ 0.66	RCH
AW	+ 0.6	PET

High negative correlations

MTY	- 0.81	ICE
ICE	- 0.73	NFI
TWC	- 0.73	RCH
MTY	- 0.62	RCH
ICE	- 0.61	TWC
TWC	- 0.61	WPK

Risk-Adjusted Indicators

There is a big difference between Spin Stock performing well and Spin Master 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 Spin Master'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
RCH	1.12	0.11	0.02	0.85	1.30	(1.19)	3.25	(2.29)	7.44
LNF	1.03	0.06	(0.04)	(0.12)	1.42	(0.98)	2.40	(2.21)	10.39
GOOS	2.24	0.14	0.06	0.20	2.90	(2.57)	4.02	(3.70)	29.62
PET	1.39	(0.51)	0.00	(0.32)	0.00	0.00	1.99	(3.71)	18.69
WPK	0.86	0.05	(0.05)	(0.20)	1.10	(0.93)	1.94	(1.81)	6.64
NFI	1.61	(0.48)	0.00	(1.10)	0.00	0.00	3.46	(4.23)	10.96
TWC	1.14	(0.02)	0.00	0.18	0.00	0.00	2.48	(2.91)	11.77
ICE	1.94	0.32	0.07	1.79	2.17	(2.90)	5.20	(3.97)	25.42
AW	1.06	(0.09)	0.00	(0.06)	0.00	0.00	1.99	(2.44)	7.20
MTY	0.99	(0.12)	0.00	1.09	0.00	0.00	2.41	(2.05)	11.65

Be your own money manager

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