North American Correlations

FNCSF Stock

USD 4.93 0.02 0.41%

The correlation of North American 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.

North American Correlation With Market

Good diversification

The correlation between North American Financial and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding North American Financial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with North Pink Sheet

0.64	PFE	Pfizer Inc	Pair Corr
0.83	BA	Boeing	Pair Corr

Moving against North Pink Sheet

0.64	AMP	Ameriprise Financial	Pair Corr
0.63	BX	Blackstone Group	Pair Corr
0.62	RNAZ	Transcode Therapeutics	Pair Corr
0.55	AHT	Ashford Hospitality Trust Downward Rally	Pair Corr
0.52	QLGN	Qualigen Therapeutics	Pair Corr
0.34	APO	Apollo Global Management	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.6	DIS	Walt Disney	Pair Corr
0.38	U4R90AAB4	HLF 4875 01	Pair Corr
0.32	KOREF	KORE Mining	Pair Corr

Related Correlations Analysis

	FNNCF	GLQ	IIF	SEIC	DVDDF	DDWWF	STT-PG	LGGNY	ECC
FNNCF		0.14	-0.4	0.17	0.29	0.0	-0.46	0.3	-0.41	FNNCF
GLQ	0.14		-0.44	0.44	0.47	0.0	0.37	0.59	0.18	GLQ
IIF	-0.4	-0.44		0.31	-0.63	0.0	0.15	-0.46	0.24	IIF
SEIC	0.17	0.44	0.31		0.02	0.0	0.09	0.28	-0.01	SEIC
DVDDF	0.29	0.47	-0.63	0.02		0.0	-0.05	0.69	0.06	DVDDF
DDWWF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	DDWWF
STT-PG	-0.46	0.37	0.15	0.09	-0.05	0.0		0.24	0.31	STT-PG
LGGNY	0.3	0.59	-0.46	0.28	0.69	0.0	0.24		0.23	LGGNY
ECC	-0.41	0.18	0.24	-0.01	0.06	0.0	0.31	0.23		ECC
	FNNCF	GLQ	IIF	SEIC	DVDDF	DDWWF	STT-PG	LGGNY	ECC

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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

LGGNY	+ 0.69	DVDDF
LGGNY	+ 0.59	GLQ
DVDDF	+ 0.47	GLQ
SEIC	+ 0.44	GLQ
STT-PG	+ 0.37	GLQ
SEIC	+ 0.31	IIF

High negative correlations

DVDDF	- 0.63	IIF
LGGNY	- 0.46	IIF
STT-PG	- 0.46	FNNCF
IIF	- 0.44	GLQ
ECC	- 0.41	FNNCF
IIF	- 0.4	FNNCF

Risk-Adjusted Indicators

There is a big difference between North Pink Sheet performing well and North American 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 North American'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
FNNCF	1.20	0.13	0.05	0.64	1.85	(1.85)	3.13	(3.98)	11.78
GLQ	0.61	0.01	0.03	0.00	0.84	(0.60)	1.17	(1.19)	3.89
IIF	0.75	(0.11)	0.00	(0.37)	0.00	0.00	1.69	(1.65)	4.51
SEIC	0.88	0.02	0.02	0.01	1.39	(0.87)	1.57	(1.94)	6.63
DVDDF	0.73	0.27	0.00	(13.12)	0.00	0.00	1.77	(0.26)	22.27
DDWWF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STT-PG	0.58	(0.03)	0.00	(0.18)	0.00	0.00	1.72	(1.15)	3.86
LGGNY	0.97	0.20	0.15	0.31	1.11	(1.05)	2.22	(1.93)	10.25
ECC	0.59	0.04	0.09	0.20	0.53	(0.83)	2.03	(0.92)	3.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in North American 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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