Brookfield Correlations

BN-PFI Preferred Stock   24.20  0.01  0.04%   
The current 90-days correlation between Brookfield and Firan Technology Group is -0.01 (i.e., Good diversification). The correlation of Brookfield 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.

Brookfield Correlation With Market

Significant diversification

The correlation between Brookfield and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Brookfield could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Brookfield 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 Brookfield - 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 Brookfield to buy it.

Moving together with Brookfield Preferred Stock

  0.76AVGO Broadcom Earnings Call This WeekPairCorr
  0.81BEP-PM Brookfield RenewablePairCorr
  0.86ENB-PFC Enbridge Pref 11PairCorr
  0.69SOU Southern Energy CorpPairCorr

Moving against Brookfield Preferred Stock

  0.35MSFT Microsoft Corp CDRPairCorr

Related Correlations Analysis

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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   
BMMRAMP
RAMPFTG
BMMFTG
HIVEISC
HIVESPMC
BMMTLT
  
High negative correlations   
HIVERAMP
HIVEBMM
HIVEFTG
ISCFTG
TLTSPMC
RAMPISC

Risk-Adjusted Indicators

There is a big difference between Brookfield Preferred Stock performing well and Brookfield 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 Brookfield'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.

Brookfield Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Brookfield preferred stock to make a market-neutral strategy. Peer analysis of Brookfield could also be used in its relative valuation, which is a method of valuing Brookfield by comparing valuation metrics with similar companies.
 Risk & Return  Correlation