Royal Bank Correlations

RY-PS Stock  CAD 24.39  0.01  0.04%   
The current 90-days correlation between Royal Bank and Intact Financial Corp is 0.49 (i.e., Very weak diversification). The correlation of Royal Bank 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Royal Bank Correlation With Market

Significant diversification

The correlation between Royal Bank of and NYA is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royal Bank of and NYA in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Royal Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Royal Bank 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 Royal Bank - 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 Royal Bank of to buy it.

Moving together with Royal Stock

  0.93FGAA-U FG Acquisition CorpPairCorr

Moving against Royal Stock

  0.73BBUC Brookfield Business CorpPairCorr
  0.43ATS ATS PPairCorr

Related Correlations Analysis

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 Royal Stock performing well and Royal Bank 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 Royal Bank'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 Royal Bank 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 Pair Correlation Now


Pair Correlation

Compare performance and examine fundamental relationship between any two equity instruments
All  Next Launch Module

Royal Bank Corporate Management

Elected by the shareholders, the Royal Bank's board of directors comprises two types of representatives: Royal Bank inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Royal. The board's role is to monitor Royal Bank's management team and ensure that shareholders' interests are well served. Royal Bank's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Royal Bank's outside directors are responsible for providing unbiased perspectives on the board's policies.
Amy CairncrossSenior CommunicationsProfile
Derek CFAGroup MarketsProfile
Katherine GibsonInterim ControllerProfile
Greg GriceExecutive ServicesProfile
Pierre SigristChief ManagementProfile
Gay MitchellDeputy ManagementProfile
Bruce RossGroup OperationsProfile