Bank of Nova Scotia Correlations
| BKN Stock | EUR 52.24 0.33 0.63% |
The current 90-days correlation between Bank of Nova Scotia and CDN IMPERIAL BANK is 0.27 (i.e., Modest diversification). The correlation of Bank of Nova Scotia 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.
Bank of Nova Scotia Correlation With Market
Average diversification
The correlation between The Bank of and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Bank of and DJI in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank of Nova Scotia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Nova Scotia 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 Bank of Nova Scotia - 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 The Bank of to buy it.
Moving together with Bank Stock
| 0.91 | CMC | JPMorgan Chase | PairCorr |
| 0.92 | NCB | Bank of America | PairCorr |
| 0.9 | NWT | Wells Fargo | PairCorr |
| 0.79 | HBC1 | HSBC Holdings plc | PairCorr |
| 0.77 | HBC2 | HSBC Holdings plc | PairCorr |
| 0.85 | RYC | Royal Bank | PairCorr |
| 0.95 | CWW | Commonwealth Bank | PairCorr |
| 0.72 | 3IB | PT Indo Tambangraya | PairCorr |
| 0.7 | KM6 | ADHI KARYA | PairCorr |
| 0.86 | DTE | Deutsche Telekom | PairCorr |
Moving against Bank Stock
| 0.87 | HX1A | HEXINDO ADIPERKASA | PairCorr |
| 0.82 | HX1A | HEXINDO ADIPERKASA | PairCorr |
| 0.78 | I41 | INDIKA ENERGY | PairCorr |
| 0.63 | KM6 | ADHI KARYA | PairCorr |
| 0.43 | DBPD | Xtrackers ShortDAX | PairCorr |
Related Correlations Analysis
| 0.89 | 0.77 | 0.94 | 0.93 | 0.25 | 0.18 | CAI | ||
| 0.89 | 0.87 | 0.84 | 0.93 | 0.38 | 0.27 | LIE | ||
| 0.77 | 0.87 | 0.77 | 0.87 | 0.53 | 0.5 | GTR | ||
| 0.94 | 0.84 | 0.77 | 0.89 | 0.35 | 0.18 | 7SU | ||
| 0.93 | 0.93 | 0.87 | 0.89 | 0.37 | 0.4 | CWW | ||
| 0.25 | 0.38 | 0.53 | 0.35 | 0.37 | 0.63 | RYQ | ||
| 0.18 | 0.27 | 0.5 | 0.18 | 0.4 | 0.63 | E5M | ||
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Risk-Adjusted Indicators
There is a big difference between Bank Stock performing well and Bank of Nova Scotia 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 Bank of Nova Scotia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CAI | 0.74 | 0.17 | 0.22 | 3.73 | 0.48 | 1.80 | 5.83 | |||
| LIE | 0.72 | 0.17 | 0.14 | 1.42 | 0.49 | 1.76 | 7.56 | |||
| GTR | 2.29 | 0.17 | 0.05 | 9.14 | 2.77 | 4.80 | 16.97 | |||
| 7SU | 1.51 | 0.57 | 0.41 | (6.46) | 0.61 | 6.49 | 11.33 | |||
| CWW | 1.02 | 0.19 | 0.15 | (1.44) | 0.99 | 2.19 | 6.17 | |||
| RYQ | 2.32 | 0.11 | 0.04 | (0.99) | 2.44 | 3.68 | 27.50 | |||
| E5M | 1.40 | (0.11) | 0.00 | 0.52 | 0.00 | 3.52 | 10.37 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bank of Nova Scotia 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.Did you try this?
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Bank of Nova Scotia Corporate Management
Elected by the shareholders, the Bank of Nova Scotia's board of directors comprises two types of representatives: Bank of Nova Scotia inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bank. The board's role is to monitor Bank of Nova Scotia's management team and ensure that shareholders' interests are well served. Bank of Nova Scotia's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bank of Nova Scotia's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jake Lawrence | CEO Markets | Profile | |
| Rajagopal Viswanathan | Group CFO | Profile | |
| Daniel Rees | Group Banking | Profile | |
| James Neate | Pres Banking | Profile | |
| Ian Arellano | Exec Counsel | Profile | |
| Scott Thomson | Pres Director | Profile | |
| Ignacio Deschamps | Group Transformation | Profile |