SunOpta Correlations

SOY Stock  CAD 7.31  0.17  2.27%   
The current 90-days correlation between SunOpta and Winpak is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SunOpta moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SunOpta moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SunOpta Correlation With Market

Significant diversification

The correlation between SunOpta and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SunOpta and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SunOpta could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SunOpta 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 SunOpta - 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 SunOpta to buy it.

Moving against SunOpta Stock

  0.66SEC Senvest CapitalPairCorr
  0.65CM-PY Canadian Imperial BankPairCorr
  0.64BMO-PE Bank of MontrealPairCorr
  0.64RY Royal BankPairCorr
  0.55RY-PS Royal BankPairCorr

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   
MREWPK
MREPRMW
WPKPRMW
MRECF
AIFCF
CFWPK
  
High negative correlations   
AIFPRMW
MREAIF
AIFWPK
CFPRMW

Risk-Adjusted Indicators

There is a big difference between SunOpta Stock performing well and SunOpta 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 SunOpta'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 SunOpta 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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SunOpta Corporate Management

Elected by the shareholders, the SunOpta's board of directors comprises two types of representatives: SunOpta inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SunOpta. The board's role is to monitor SunOpta's management team and ensure that shareholders' interests are well served. SunOpta'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, SunOpta's outside directors are responsible for providing unbiased perspectives on the board's policies.