Gildan Activewear Correlations

GIL Stock  CAD 46.85  0.08  0.17%   
The correlation of Gildan Activewear is a statistical measure of how it moves in relation to other equities. 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 Gildan Activewear moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gildan Activewear 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.

Average diversification

The correlation between Gildan Activewear and NYA is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gildan Activewear and NYA in the same portfolio, assuming nothing else is changed.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gildan Activewear. 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.
To learn how to invest in Gildan Stock, please use our How to Invest in Gildan Activewear guide.
  
The ability to find closely correlated positions to Gildan Activewear could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gildan Activewear 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 Gildan Activewear - 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 Gildan Activewear to buy it.

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Related Correlations Analysis

NA-PW
FFN
RUBH
MFC-PP
EVT
AI
BNRE
NA-PW
0.490.340.890.660.90.68
NA-PW
FFN
0.490.80.70.460.660.86
FFN
RUBH
0.340.80.450.370.450.74
RUBH
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0.890.70.450.70.930.81
MFC-PP
EVT
0.660.460.370.70.650.68
EVT
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0.90.660.450.930.650.82
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BNRE
0.680.860.740.810.680.82
BNRE
NA-PW
FFN
RUBH
MFC-PP
EVT
AI
BNRE
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Risk-Adjusted Indicators

There is a big difference between Gildan Stock performing well and Gildan Activewear 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 Gildan Activewear'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 Gildan Activewear 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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Gildan Activewear Corporate Directors

Gildan Activewear corporate directors refer to members of a Gildan Activewear board of directors. The board of directors generally takes responsibility for the Gildan Activewear'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 Gildan Activewear's board members must vote for the resolution. The Gildan Activewear board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Marcello CairaIndependent DirectorProfile
Gonzalo ValdesFauliIndependent DirectorProfile
Charles HeringtonIndependent DirectorProfile
Anne MartinVachonIndependent DirectorProfile

Already Invested in Gildan Activewear?

The danger of trading Gildan Activewear 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 Gildan Activewear 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 Gildan Activewear. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Gildan Activewear 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.
When determining whether Gildan Activewear is a strong investment it is important to analyze Gildan Activewear's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Gildan Activewear's future performance. For an informed investment choice regarding Gildan Stock, refer to the following important reports:
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gildan Activewear. 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.
To learn how to invest in Gildan Stock, please use our How to Invest in Gildan Activewear guide.
You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.

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