Canadian Spirit Related Correlations

SPI Stock

CAD 0.08 0.01 11.11%

Generate correlation matrix for Canadian Spirit and other related equities to check the degree to which Canadian Spirit Resources price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Canadian Spirit Resources. To filter out specific equities, please toggle its corresponding legend item. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Canadian Spirit Resources. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

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Please note, there is a significant difference between Canadian Spirit's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian Spirit is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian Spirit's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

	BNRE	CHN	CALL	DCM	DFY	NA-PW	FFN
BNRE		0.0	0.62	0.17	0.53	0.37	0.53	BNRE
CHN	0.0		0.0	0.0	0.0	0.0	0.0	CHN
CALL	0.62	0.0		-0.14	0.58	0.86	0.93	CALL
DCM	0.17	0.0	-0.14		0.52	-0.35	-0.01	DCM
DFY	0.53	0.0	0.58	0.52		0.48	0.71	DFY
NA-PW	0.37	0.0	0.86	-0.35	0.48		0.78	NA-PW
FFN	0.53	0.0	0.93	-0.01	0.71	0.78		FFN
	BNRE	CHN	CALL	DCM	DFY	NA-PW	FFN

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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

FFN	+ 0.93	CALL
NA-PW	+ 0.86	CALL
FFN	+ 0.78	NA-PW
FFN	+ 0.71	DFY
CALL	+ 0.62	BNRE
DFY	+ 0.58	CALL

High negative correlations

NA-PW	- 0.35	DCM
DCM	- 0.14	CALL
FFN	- 0.01	DCM
FFN	- 0.0	CHN
NA-PW	- 0.0	CHN
DFY	- 0.0	CHN

Risk-Adjusted Indicators

There is a big difference between Canadian Stock performing well and Canadian Spirit 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 Canadian Spirit'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
BNRE	1.11	0.06	0.07	0.11	1.39	(1.15)	2.35	(1.79)	6.82
CHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CALL	0.89	0.11	0.11	0.16	0.87	(1.02)	2.16	(1.62)	4.78
DCM	2.08	0.14	0.06	0.16	2.64	(2.18)	5.47	(4.19)	16.20
DFY	1.01	0.21	0.13	0.87	0.97	(1.17)	3.32	(1.87)	7.90
NA-PW	0.74	0.23	0.17	1.22	0.57	(0.91)	2.21	(1.25)	9.90
FFN	1.57	0.41	0.22	0.24	1.65	(1.78)	3.79	(3.45)	14.76

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Canadian Spirit Related Correlations

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Correlations

Correlation Matchups

Risk-Adjusted Indicators

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