Toromont Industries Correlations
| TMTNF Stock | USD 88.15 1.94 2.25% |
The current 90-days correlation between Toromont Industries and DTE Energy Co is -0.07 (i.e., Good diversification). The correlation of Toromont Industries 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.
Toromont Industries Correlation With Market
Good diversification
The correlation between Toromont Industries and NYA is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Toromont Industries and NYA in the same portfolio, assuming nothing else is changed.
Toromont |
The ability to find closely correlated positions to Toromont Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Toromont Industries 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 Toromont Industries - 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 Toromont Industries to buy it.
Moving together with Toromont Pink Sheet
| 0.82 | MCAE | Mountain Crest Acqui | PairCorr |
| 0.73 | NIHK | Video River Networks | PairCorr |
| 0.64 | IBM | International Business Financial Report 17th of July 2024 | PairCorr |
| 0.81 | DIS | Walt Disney Financial Report 14th of August 2024 | PairCorr |
Moving against Toromont Pink Sheet
| 0.79 | PFE | Pfizer Inc Sell-off Trend | PairCorr |
| 0.77 | HPQ | HP Inc Fiscal Year End 19th of November 2024 | PairCorr |
| 0.76 | WMT | Walmart | PairCorr |
| 0.75 | BAC | Bank of America Financial Report 16th of July 2024 | PairCorr |
| 0.66 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
| 0.65 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.6 | MMM | 3M Company Financial Report 23rd of July 2024 | PairCorr |
| 0.49 | JPM | JPMorgan Chase Financial Report 12th of July 2024 | PairCorr |
| 0.46 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Toromont Pink Sheet performing well and Toromont Industries 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 Toromont Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EAI | 0.60 | (0.14) | 0.00 | (0.26) | 0.00 | 0.93 | 3.18 | |||
| ENJ | 0.56 | (0.09) | 0.00 | (0.39) | 0.00 | 1.48 | 3.07 | |||
| EMP | 0.68 | (0.11) | 0.00 | (0.16) | 0.00 | 1.14 | 3.64 | |||
| SOJC | 0.59 | (0.10) | 0.00 | (0.13) | 0.00 | 1.46 | 4.33 | |||
| DTW | 0.61 | (0.07) | 0.00 | (0.08) | 0.00 | 1.28 | 4.91 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Toromont Industries 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?
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Toromont Industries Corporate Management
| Michael Cuddy | CIO and VP | Profile | |
| William Harvey | Pres Division | Profile | |
| Lynn Korbak | General Counsel, Corporate Secretary | Profile | |
| Isabelle Leclerc | VP HR | Profile | |
| Colin Goheen | Pres Rentals | Profile | |
| Michael McMillan | Ex CFO | Profile | |
| Miles Gregg | Pres Division | Profile |