JohnKeverich
Long

Long BNS based USDCAD correlation

NYSE:BNS   BANK NOVA SCOTIA HALIFAX PFD 3 ORDINARY SHARES
28 0 0
BNS             has been tightly correlated with CAD since July 2014. Specifically, the relationship appears to be:

(daily % change in BNS             ) = 2x(daily % change in CADUSD             )

CAD itself is correlated with oil             .

I originally planned to buy CAD for an upcoming oil             rally. But I ended up buying BNS             instead. It pays a 5% dividend.
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