Exco Technologies Correlations

XTC Stock

CAD 6.78 0.07 1.02%

The current 90-days correlation between Exco Technologies and Gamehost is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Exco Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Exco Technologies Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Exco Technologies Correlation With Market

Modest diversification

The correlation between Exco Technologies Limited and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exco Technologies Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Exco Stock

0.75	BNP	BNP Paribas CDR	Pair Corr
0.7	BMO	Bank of Montreal	Pair Corr

Moving against Exco Stock

0.54	AMD	Advanced Micro Devices	Pair Corr
0.51	RBY	Rubellite Energy	Pair Corr
0.42	AMZN	Amazon CDR	Pair Corr
0.41	NVO	Novo Resources Corp	Pair Corr
0.33	REE	E Tech Resources	Pair Corr
0.42	IQ	AirIQ Inc	Pair Corr
0.37	REG	Regulus Resources	Pair Corr
0.36	QNC	Quantum Numbers	Pair Corr

Related Correlations Analysis

	GH	CKI	WPRT	PZA	ROOT	HC	GBT	TRZ	SXP
GH		-0.44	-0.45	-0.57	-0.24	-0.47	-0.28	-0.23	-0.29	GH
CKI	-0.44		0.87	0.21	0.18	0.39	0.42	0.43	0.62	CKI
WPRT	-0.45	0.87		0.36	0.17	0.61	0.52	0.46	0.63	WPRT
PZA	-0.57	0.21	0.36		0.07	0.53	0.08	0.42	0.2	PZA
ROOT	-0.24	0.18	0.17	0.07		0.07	-0.04	0.25	0.49	ROOT
HC	-0.47	0.39	0.61	0.53	0.07		0.52	-0.04	0.16	HC
GBT	-0.28	0.42	0.52	0.08	-0.04	0.52		-0.02	0.04	GBT
TRZ	-0.23	0.43	0.46	0.42	0.25	-0.04	-0.02		0.64	TRZ
SXP	-0.29	0.62	0.63	0.2	0.49	0.16	0.04	0.64		SXP
	GH	CKI	WPRT	PZA	ROOT	HC	GBT	TRZ	SXP

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

WPRT	+ 0.87	CKI
SXP	+ 0.64	TRZ
SXP	+ 0.63	WPRT
SXP	+ 0.62	CKI
HC	+ 0.61	WPRT
HC	+ 0.53	PZA

High negative correlations

PZA	- 0.57	GH
HC	- 0.47	GH
WPRT	- 0.45	GH
CKI	- 0.44	GH
SXP	- 0.29	GH
GBT	- 0.28	GH

Risk-Adjusted Indicators

There is a big difference between Exco Stock performing well and Exco Technologies 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 Exco Technologies' 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
GH	0.55	0.03	(0.06)	(0.29)	0.72	(0.62)	1.05	(1.36)	2.75
CKI	1.05	(0.38)	0.00	0.61	0.00	0.00	1.80	(3.45)	10.30
WPRT	2.63	(0.40)	0.00	(0.57)	0.00	0.00	7.24	(5.31)	16.73
PZA	0.66	(0.01)	(0.06)	0.00	1.08	(0.66)	0.97	(1.04)	5.93
ROOT	1.22	(0.07)	0.00	(0.24)	0.00	0.00	2.17	(3.55)	13.20
HC	3.31	(0.07)	(0.01)	0.02	3.98	(7.47)	10.00	(9.09)	22.88
GBT	0.97	(0.07)	0.00	(0.11)	0.00	0.00	2.99	(3.64)	10.10
TRZ	2.03	0.03	0.00	0.03	0.00	0.00	4.76	(3.00)	31.14
SXP	1.20	(0.08)	0.00	(0.71)	0.00	0.00	2.78	(2.71)	8.78

Be your own money manager

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