Zedcor Energy Correlations

ZDC Stock

CAD 5.86 0.14 2.33%

The current 90-days correlation between Zedcor Energy and Algoma Central is 0.07 (i.e., Significant diversification). The correlation of Zedcor Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Zedcor Energy Correlation With Market

Average diversification

The correlation between Zedcor Energy and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zedcor Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zedcor Stock

0.66	MRT-UN	Morguard Real Estate	Pair Corr
0.9	ARE	Aecon Group	Pair Corr
0.61	EDV	Endeavour Mining Corp	Pair Corr
0.8	CIA	Champion Iron	Pair Corr
0.65	HIVE	HIVE Digital Technologies	Pair Corr
0.94	FTT	Finning International	Pair Corr
0.8	QCX	QcX Gold Corp	Pair Corr
0.72	FF	First Mining Gold	Pair Corr
0.83	BDI	Black Diamond Group	Pair Corr
0.86	CG	Centerra Gold	Pair Corr
0.84	SMY	Search Minerals Earnings Call Today	Pair Corr
0.84	DFN	Dividend 15 Split	Pair Corr
0.68	FM	First Quantum Minerals	Pair Corr
0.78	RYR	Royal Road Minerals Earnings Call This Week	Pair Corr
0.9	AUUA	Aluula Composites	Pair Corr
0.79	IFOS	Itafos Corp	Pair Corr

Moving against Zedcor Stock

0.66	BOS	AirBoss of America	Pair Corr
0.58	FEC	Frontera Energy Corp	Pair Corr
0.54	CFW	Calfrac Well Services	Pair Corr
0.39	MRC	Morguard	Pair Corr
0.52	SSE	Silver Spruce Resources Split	Pair Corr
0.36	BRK	Berkshire Hathaway CDR	Pair Corr

Related Correlations Analysis

	ALC	GDI	DXT	AFN	CHR	DIV	ADEN	CGY	BDI
ALC		0.47	0.9	-0.72	0.34	-0.42	-0.58	-0.21	0.26	ALC
GDI	0.47		0.57	-0.47	0.76	-0.03	-0.42	-0.06	0.66	GDI
DXT	0.9	0.57		-0.74	0.5	-0.43	-0.63	-0.32	0.44	DXT
AFN	-0.72	-0.47	-0.74		-0.31	-0.07	0.78	0.36	-0.41	AFN
CHR	0.34	0.76	0.5	-0.31		-0.15	-0.34	-0.1	0.9	CHR
DIV	-0.42	-0.03	-0.43	-0.07	-0.15		0.08	0.13	0.02	DIV
ADEN	-0.58	-0.42	-0.63	0.78	-0.34	0.08		0.21	-0.38	ADEN
CGY	-0.21	-0.06	-0.32	0.36	-0.1	0.13	0.21		-0.12	CGY
BDI	0.26	0.66	0.44	-0.41	0.9	0.02	-0.38	-0.12		BDI
	ALC	GDI	DXT	AFN	CHR	DIV	ADEN	CGY	BDI

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

DXT	+ 0.9	ALC
BDI	+ 0.9	CHR
ADEN	+ 0.78	AFN
CHR	+ 0.76	GDI
BDI	+ 0.66	GDI
DXT	+ 0.57	GDI

High negative correlations

AFN	- 0.74	DXT
AFN	- 0.72	ALC
ADEN	- 0.63	DXT
ADEN	- 0.58	ALC
AFN	- 0.47	GDI
DIV	- 0.43	DXT

Risk-Adjusted Indicators

There is a big difference between Zedcor Stock performing well and Zedcor Energy 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 Zedcor Energy'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
ALC	1.05	0.15	0.07	(0.34)	1.06	(1.22)	2.59	(1.46)	5.96
GDI	1.37	0.08	0.03	0.80	1.47	(1.56)	2.83	(2.94)	10.60
DXT	1.20	0.22	0.15	(13.70)	0.94	(1.70)	2.73	(2.24)	9.69
AFN	2.29	(1.13)	0.00	(0.32)	0.00	0.00	3.48	(3.94)	44.12
CHR	0.99	0.08	0.03	2.12	1.41	(1.14)	1.51	(1.59)	19.55
DIV	0.91	0.08	0.05	0.20	1.08	(0.99)	1.64	(1.88)	8.66
ADEN	1.29	(0.12)	0.00	(0.52)	0.00	0.00	2.63	(2.65)	9.94
CGY	1.72	(0.03)	0.00	(0.03)	0.00	0.00	3.12	(3.58)	12.85
BDI	1.27	0.30	0.16	(175.11)	1.23	(1.56)	3.08	(1.62)	13.75

Be your own money manager

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