Mawer Canadien Correlations

0P00007173

CAD 102.65 0.00 0.00%

The current 90-days correlation between Mawer Canadien actions and Mawer Canadien obligations is 0.31 (i.e., Weak diversification). The correlation of Mawer Canadien 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.

Mawer Canadien Correlation With Market

Very weak diversification

The correlation between Mawer Canadien actions and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mawer Canadien actions and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Mawer Canadien could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mawer Canadien 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 Mawer Canadien - 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 Mawer Canadien actions to buy it.

Moving together with Mawer Fund

0.88	0P00007061	RBC Canadian Equity	Pair Corr
0.88	0P0000N468	PHN Canadian Equity	Pair Corr

Related Correlations Analysis

	0P00007174	0P0000714D	0P00007149	0P0000716B	0P00007173	FTHI	0P00007694	BLB-UN	0P0001N8MZ
0P00007174		0.69	0.0	0.57	0.6	0.38	0.45	-0.09	0.6	0P00007174
0P0000714D	0.69		0.0	0.67	0.97	0.04	0.8	0.3	0.54	0P0000714D
0P00007149	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0P00007149
0P0000716B	0.57	0.67	0.0		0.6	0.21	0.41	0.17	0.76	0P0000716B
0P00007173	0.6	0.97	0.0	0.6		0.01	0.76	0.26	0.44	0P00007173
FTHI	0.38	0.04	0.0	0.21	0.01		-0.22	-0.37	0.51	FTHI
0P00007694	0.45	0.8	0.0	0.41	0.76	-0.22		0.35	0.14	0P00007694
BLB-UN	-0.09	0.3	0.0	0.17	0.26	-0.37	0.35		-0.03	BLB-UN
0P0001N8MZ	0.6	0.54	0.0	0.76	0.44	0.51	0.14	-0.03		0P0001N8MZ
	0P00007174	0P0000714D	0P00007149	0P0000716B	0P00007173	FTHI	0P00007694	BLB-UN	0P0001N8MZ

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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

0P00007173	+ 0.97	0P0000714D
0P00007694	+ 0.8	0P0000714D
0P0001N8MZ	+ 0.76	0P0000716B
0P00007694	+ 0.76	0P00007173
0P0000714D	+ 0.69	0P00007174
0P0000716B	+ 0.67	0P0000714D

High negative correlations

BLB-UN	- 0.37	FTHI
0P00007694	- 0.22	FTHI
BLB-UN	- 0.09	0P00007174
0P0001N8MZ	- 0.03	BLB-UN
0P0001N8MZ	- 0.0	0P00007149
BLB-UN	- 0.0	0P00007149

Risk-Adjusted Indicators

There is a big difference between Mawer Fund performing well and Mawer Canadien Fund 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 Mawer Canadien'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
0P00007174	0.30	0.01	(0.12)	0.17	0.28	(0.36)	0.77	(0.59)	1.72
0P0000714D	0.33	0.00	(0.06)	0.07	0.65	(0.32)	0.70	(0.58)	3.82
0P00007149	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0P0000716B	0.49	0.05	(0.01)	0.38	0.64	(0.53)	0.98	(0.96)	3.70
0P00007173	0.41	0.01	(0.04)	0.09	0.79	(0.41)	0.83	(0.63)	4.87
FTHI	0.52	0.15	0.17	0.87	0.22	(0.70)	1.31	(0.84)	3.02
0P00007694	0.56	(0.04)	0.00	(0.12)	0.00	0.00	1.00	(1.18)	6.99
BLB-UN	0.59	(0.06)	0.00	(0.39)	0.00	0.00	2.31	(2.02)	10.67
0P0001N8MZ	0.52	0.08	0.04	0.43	0.62	(0.54)	1.21	(0.98)	2.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mawer Canadien 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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