Great West Correlations
| GWO Stock | CAD 50.41 0.08 0.16% |
The current 90-days correlation between Great West Lifeco and Sun Life Financial is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Great West moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Great West Lifeco moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Great West Correlation With Market
Very weak diversification
The correlation between Great West Lifeco and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great West Lifeco and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Great West could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Great West 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 Great West - 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 Great West Lifeco to buy it.
Moving against Great Stock
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Great Stock performing well and Great West 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 Great West'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SLF | 0.57 | 0.24 | 0.22 | 1.27 | 0.00 | 1.31 | 4.45 | |||
| POW | 0.57 | 0.20 | 0.10 | 0.65 | 0.74 | 1.27 | 6.28 | |||
| MFC | 0.75 | 0.23 | 0.22 | 0.50 | 0.40 | 1.96 | 6.59 | |||
| NA | 0.49 | 0.14 | 0.02 | 10.86 | 0.42 | 1.14 | 3.58 | |||
| IGM | 0.72 | 0.27 | 0.23 | 0.83 | 0.49 | 2.05 | 4.90 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Great West 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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