NFI Correlations
| NFI Stock | CAD 12.74 0.05 0.39% |
The current 90-days correlation between NFI Group and Northland Power is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NFI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NFI Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
NFI Correlation With Market
Average diversification
The correlation between NFI Group 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 NFI Group and DJI in the same portfolio, assuming nothing else is changed.
NFI |
The ability to find closely correlated positions to NFI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NFI 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 NFI - 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 NFI Group to buy it.
Moving together with NFI Stock
Moving against NFI Stock
| 0.85 | BSX | Belo Sun Mining | PairCorr |
| 0.84 | TDG | TDG Gold Corp | PairCorr |
| 0.83 | X | TMX Group Limited | PairCorr |
| 0.76 | ASCU | Arizona Sonoran Copper | PairCorr |
| 0.76 | AGI | Alamos Gold | PairCorr |
| 0.7 | MTT | Magna Terra Minerals | PairCorr |
| 0.69 | VGZ | Vista Gold | PairCorr |
| 0.68 | CCM | Canagold Resources | PairCorr |
| 0.61 | IPCO | International Petroleum | PairCorr |
| 0.6 | ERD | Erdene Resource Deve | PairCorr |
| 0.57 | IAU | i 80 Gold | PairCorr |
| 0.51 | AOV | Amotiv Limited | PairCorr |
| 0.47 | HELI | First Helium | PairCorr |
| 0.46 | PPL-PC | Pembina Pipeline Corp | PairCorr |
| 0.32 | FFH-PG | Fairfax Fin Hld | PairCorr |
| 0.87 | WCN | Waste Connections | PairCorr |
| 0.84 | RIO | Rio2 | PairCorr |
| 0.82 | MNT-U | ROYAL CANADIAN MINT | PairCorr |
| 0.82 | RAY-A | Stingray Group | PairCorr |
| 0.78 | ARG | Amerigo Resources | PairCorr |
| 0.76 | PCAA-P | PC 1 Corp | PairCorr |
| 0.73 | HLS | HLS Therapeutics | PairCorr |
| 0.7 | III | Imperial Metals | PairCorr |
| 0.69 | EMX | EMX Royalty Corp | PairCorr |
| 0.69 | KNG | Kingsmen Resources | PairCorr |
Related Correlations Analysis
| -0.26 | 0.92 | 0.68 | 0.71 | MG | ||
| -0.26 | -0.28 | -0.73 | -0.56 | NPI | ||
| 0.92 | -0.28 | 0.75 | 0.68 | LNR | ||
| 0.68 | -0.73 | 0.75 | 0.7 | OTEX | ||
| 0.71 | -0.56 | 0.68 | 0.7 | ARE | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between NFI Stock performing well and NFI 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 NFI'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MG | 1.41 | (0.18) | 0.00 | (0.30) | 0.00 | 2.17 | 10.75 | |||
| NPI | 1.41 | 0.12 | 0.11 | 0.30 | 1.68 | 2.89 | 8.56 | |||
| LNR | 1.41 | (0.16) | 0.00 | (0.24) | 0.00 | 2.39 | 8.11 | |||
| OTEX | 1.23 | (0.10) | 0.00 | (0.20) | 0.00 | 3.13 | 9.39 | |||
| ARE | 1.63 | (0.42) | 0.00 | (0.73) | 0.00 | 3.52 | 23.35 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NFI 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?
Run Odds Of Bankruptcy Now
Odds Of BankruptcyGet analysis of equity chance of financial distress in the next 2 years |
| All Next | Launch Module |