Canadian banks and cross-listed stocks
Hey guys. I am new on this forum. First i want to apology if my english isn't perfect. My mean language is french (I also see this forum as a good opportunity to increase my writing skills in english).
Anyway long story short, i recently bet on the Canadians banks because of the enhanching economics conditions over here (in Canada), risk attenuation of the real estate market paired with tightening monetary policy schedule and some technical (price action) analysis.
Anyway, i brought the ZEB.TO (equal weight banks index) on the 4 of july. From then, it has been trending weakly. My question is regarding the cross-listed stocks on the NYSE. The trend have been must more vigorous on the U.S listed stocks. I did some research but I struggle to get a correct answer of the phenomenon. First I have been thinking that is it maybe due to the up trending CAD against the USD form around the 4th of may.
I am not studying in finance but instead in Mining engineering. On the other hand, i am thinking about maybe doing a master in financial engineering because i am too much interested by financial markets. Anyway, the fact is that I am currently learning financials by myself but I struggle to get answers to my questions because I don't know no one with significant financial knowledge. That why I subscribed on WSO.
So if you guys can give me an insight on why Canadians banks stocks listed on NYSE have been trending so firmly compared to their TSX counterpart is would be greatly appreciated.
Big thanks!
img src="https://ibb.co/j8kdkQ">
Is there some charts examples:
Banks of nova scotia TSX: https://ibb.co/fRUAzk Banks of nova scotia NYSE: https://ibb.co/drYsC5 Toronto Dominion TSX: https://ibb.co/eqezs5 Toronto Dominion NYSE: https://ibb.co/cNv5X5
The CAD has appreciated by over 5 cents over the last month. That's a HUGE swing and explain the difference in trading performance. Note that when buying a foreign listed stock, you also get FX exposure and it can significantly impact the performance.
Thank you very much for your answer!
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