CI Black Correlations

0P0000752C  CAD 15.27  0.08  0.53%   
The current 90-days correlation between CI Black Creek and Fidelity Tactical High is 0.05 (i.e., Significant diversification). The correlation of CI Black 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.

CI Black Correlation With Market

Significant diversification

The correlation between CI Black Creek and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Black Creek and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CI Black could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI Black 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 CI Black - 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 CI Black Creek to buy it.

Moving together with 0P0000752C Fund

  0.80P0000IUYO Edgepoint Global PorPairCorr
  0.860P00012UCU RBC Global EquityPairCorr
  0.770P000072UA Invesco Global CompaniesPairCorr
  0.67HIG Global Healthcare IncomePairCorr

Moving against 0P0000752C Fund

  0.54ISCB IA Clarington StrategicPairCorr
  0.45VALT-B CI Gold BullionPairCorr

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   
CIG180060P000070HA
CIG18006FTHI
0P000076940P0000752C
0P000070HAFTHI
HIGBLB-UN
HIG0P0000752C
  
High negative correlations   
0P000070HAHIG
CIG18006HIG
CIG18006BLB-UN
0P000070HABLB-UN
BLB-UNFTHI
HIGFTHI

Risk-Adjusted Indicators

There is a big difference between 0P0000752C Fund performing well and CI Black 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 CI Black'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
0P0000752C  0.60 (0.16) 0.00 (8.94) 0.00 
 0.87 
 7.92 
FTHI  0.46  0.08  0.13  0.36  0.32 
 1.06 
 3.20 
0P00007694  0.55 (0.08) 0.00 (1.82) 0.00 
 0.90 
 7.37 
BLB-UN  0.51 (0.06) 0.00 (0.33) 0.00 
 2.29 
 10.67 
0P0001N8MZ  0.53 (0.04) 0.00  2.66  0.00 
 0.95 
 2.97 
HIG  0.63 (0.12) 0.00 (0.36) 0.00 
 1.24 
 4.54 
0P000070HA  1.18  0.25  0.17 (4.41) 1.19 
 2.51 
 7.49 
0P000077FS  0.38 (0.05) 0.00 (0.87) 0.00 
 0.72 
 2.90 
CIG18006  1.18  0.25  0.17  19.04  1.19 
 2.51 
 7.49 

Be your own money manager

Our tools can tell you how much better you can do entering a position in CI Black 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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