M Split Correlations

XMF-PB Preferred Stock

CAD 5.24 0.03 0.58%

The current 90-days correlation between M Split Corp and Leons Furniture Limited is 0.07 (i.e., Significant diversification). The correlation of M Split 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.

M Split Correlation With Market

Significant diversification

The correlation between M Split Corp and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding M Split Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with XMF-PB Preferred Stock

0.75	GS	GOLDMAN SACHS CDR	Pair Corr
0.79	GLXY	Galaxy Digital Holdings	Pair Corr
0.83	HUT	Hut 8 Mining	Pair Corr
0.89	CF	Canaccord Genuity	Pair Corr
0.76	JPM	JPMorgan Chase	Pair Corr
0.75	BOFA	Bank of America	Pair Corr
0.75	RY-PO	Royal Bank	Pair Corr
0.73	RY-PM	Royal Bank	Pair Corr
0.77	RY-PS	Royal Bank	Pair Corr
0.85	RY	Royal Bank	Pair Corr
0.78	RY-PJ	Royal Bank	Pair Corr
0.71	RY-PN	Royal Bank	Pair Corr

Moving against XMF-PB Preferred Stock

0.72

Toronto Dominion Bank

Pair Corr

Related Correlations Analysis

	LNF	AWI	PLZ-UN	CM-PS	FTN-PA	RUM	BPO-PG	BNS
LNF		-0.44	0.87	-0.89	-0.87	0.6	-0.79	-0.79	LNF
AWI	-0.44		-0.26	0.44	0.64	-0.13	0.35	0.66	AWI
PLZ-UN	0.87	-0.26		-0.88	-0.83	0.8	-0.83	-0.79	PLZ-UN
CM-PS	-0.89	0.44	-0.88		0.87	-0.69	0.91	0.86	CM-PS
FTN-PA	-0.87	0.64	-0.83	0.87		-0.64	0.76	0.93	FTN-PA
RUM	0.6	-0.13	0.8	-0.69	-0.64		-0.79	-0.67	RUM
BPO-PG	-0.79	0.35	-0.83	0.91	0.76	-0.79		0.77	BPO-PG
BNS	-0.79	0.66	-0.79	0.86	0.93	-0.67	0.77		BNS
	LNF	AWI	PLZ-UN	CM-PS	FTN-PA	RUM	BPO-PG	BNS

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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

BNS	+ 0.93	FTN-PA
BPO-PG	+ 0.91	CM-PS
PLZ-UN	+ 0.87	LNF
FTN-PA	+ 0.87	CM-PS
BNS	+ 0.86	CM-PS
RUM	+ 0.8	PLZ-UN

High negative correlations

CM-PS	- 0.89	LNF
CM-PS	- 0.88	PLZ-UN
FTN-PA	- 0.87	LNF
BPO-PG	- 0.83	PLZ-UN
FTN-PA	- 0.83	PLZ-UN
BPO-PG	- 0.79	RUM

Risk-Adjusted Indicators

There is a big difference between XMF-PB Preferred Stock performing well and M Split 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 M Split'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
LNF	0.98	(0.22)	0.00	(0.88)	0.00	0.00	2.18	(2.36)	8.20
AWI	1.07	0.10	0.00	(0.40)	0.00	0.00	0.00	0.00	49.38
PLZ-UN	0.47	(0.11)	0.00	(0.82)	0.00	0.00	0.81	(1.07)	3.20
CM-PS	0.21	0.00	(0.08)	0.00	0.00	(0.27)	0.56	(0.32)	1.73
FTN-PA	0.17	0.05	(0.03)	(9.84)	0.00	(0.25)	0.30	(0.20)	1.71
RUM	1.85	(0.36)	0.00	(0.71)	0.00	0.00	7.69	(7.69)	23.72
BPO-PG	0.73	0.14	0.07	1.93	0.84	(0.80)	1.84	(1.50)	5.25
BNS	0.60	0.14	0.11	0.60	0.62	(0.67)	1.55	(0.96)	5.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in M Split 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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