Goodfood Market Correlations

FOOD Stock  CAD 0.32  0.01  3.23%   
The correlation of Goodfood Market 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Goodfood Market moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Goodfood Market Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Very good diversification

The correlation between Goodfood Market Corp and NYA is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goodfood Market Corp and NYA in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Goodfood Market Corp. 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.
  
The ability to find closely correlated positions to Goodfood Market could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goodfood Market 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 Goodfood Market - 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 Goodfood Market Corp to buy it.

Moving together with Goodfood Stock

  0.67BIP-PB Brookfield InfrastructurePairCorr

Moving against Goodfood Stock

  0.69CDAY Ceridian HCM HoldingPairCorr
  0.63SLF Sun Life FinancialPairCorr
  0.42BEP-PR Brookfield RenewablePairCorr

Related Correlations Analysis

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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   
DNDDOC
DCBOWELL
DNDDCBO
LSPDWELL
DCBODOC
DOCLSPD
  
High negative correlations   
DCBOLSPD
DNDLSPD
DNDWELL
DOCWELL
DOCLSPD

Risk-Adjusted Indicators

There is a big difference between Goodfood Stock performing well and Goodfood Market 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 Goodfood Market'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Goodfood Market 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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Goodfood Market Corporate Directors

Goodfood Market corporate directors refer to members of a Goodfood Market board of directors. The board of directors generally takes responsibility for the Goodfood Market's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Goodfood Market's board members must vote for the resolution. The Goodfood Market board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Donald OldsIndependent DirectorProfile
Terry YanofskyDirectorProfile
Hamnett HillIndependent DirectorProfile
Guy LeBlancIndependent DirectorProfile

Already Invested in Goodfood Market Corp?

The danger of trading Goodfood Market Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Goodfood Market is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Goodfood Market. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Goodfood Market Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Goodfood Market Corp. 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.
You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.

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When running Goodfood Market's price analysis, check to measure Goodfood Market's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Goodfood Market is operating at the current time. Most of Goodfood Market's value examination focuses on studying past and present price action to predict the probability of Goodfood Market's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Goodfood Market's price. Additionally, you may evaluate how the addition of Goodfood Market to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Goodfood Market's value and its price as these two are different measures arrived at by different means. Investors typically determine if Goodfood Market is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Goodfood Market'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.