Edgepoint Canadian Correlations

0P0000JO4N

55.45 0.19 0.34%

The current 90-days correlation between Edgepoint Canadian and Edgepoint Global Portfolio is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Edgepoint Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edgepoint Canadian Portfolio moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Edgepoint Canadian Correlation With Market

Weak diversification

The correlation between Edgepoint Canadian Portfolio and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edgepoint Canadian Portfolio and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Edgepoint Fund

0.94	0P0000706A	RBC Select Balanced	Pair Corr
0.95	0P00007069	RBC Portefeuille	Pair Corr
0.93	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.85	0P0001FAU8	TD Comfort Balanced	Pair Corr
0.95	0P00012UCU	RBC Global Equity	Pair Corr

Related Correlations Analysis

	0P0000JO4N	0P0000IUYO	0P0000JO4E	FTHI	0P00007694	BLB-UN	HIG	0P000070HA	CIG18006
0P0000JO4N		0.93	0.95	0.94	0.94	0.38	-0.84	0.93	0.93	0P0000JO4N
0P0000IUYO	0.93		0.97	0.86	0.91	0.42	-0.72	0.87	0.87	0P0000IUYO
0P0000JO4E	0.95	0.97		0.87	0.92	0.39	-0.75	0.87	0.87	0P0000JO4E
FTHI	0.94	0.86	0.87		0.87	0.24	-0.83	0.97	0.97	FTHI
0P00007694	0.94	0.91	0.92	0.87		0.57	-0.8	0.88	0.88	0P00007694
BLB-UN	0.38	0.42	0.39	0.24	0.57		-0.37	0.27	0.27	BLB-UN
HIG	-0.84	-0.72	-0.75	-0.83	-0.8	-0.37		-0.85	-0.85	HIG
0P000070HA	0.93	0.87	0.87	0.97	0.88	0.27	-0.85		1.0	0P000070HA
CIG18006	0.93	0.87	0.87	0.97	0.88	0.27	-0.85	1.0		CIG18006
	0P0000JO4N	0P0000IUYO	0P0000JO4E	FTHI	0P00007694	BLB-UN	HIG	0P000070HA	CIG18006

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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

CIG18006	+ 1.0	0P000070HA
0P0000JO4E	+ 0.97	0P0000IUYO
0P000070HA	+ 0.97	FTHI
CIG18006	+ 0.97	FTHI
0P0000JO4E	+ 0.95	0P0000JO4N
FTHI	+ 0.94	0P0000JO4N

High negative correlations

CIG18006	- 0.85	HIG
0P000070HA	- 0.85	HIG
HIG	- 0.84	0P0000JO4N
HIG	- 0.83	FTHI
HIG	- 0.8	0P00007694
HIG	- 0.75	0P0000JO4E

Risk-Adjusted Indicators

There is a big difference between Edgepoint Fund performing well and Edgepoint Canadian 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 Edgepoint Canadian'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
0P0000JO4N	0.45	0.11	0.04	0.50	0.45	(0.49)	1.06	(0.90)	3.30
0P0000IUYO	0.51	0.05	(0.06)	0.33	0.47	(0.57)	1.07	(0.99)	2.60
0P0000JO4E	0.51	0.04	(0.06)	0.25	0.49	(0.56)	1.19	(0.99)	2.61
FTHI	0.42	0.11	0.06	0.49	0.00	(0.54)	1.11	(0.60)	3.05
0P00007694	0.45	0.08	(0.04)	0.77	0.45	(0.50)	1.01	(0.82)	2.86
BLB-UN	0.46	0.03	(0.02)	1.38	1.13	(1.32)	1.96	(0.84)	11.38
HIG	0.78	(0.12)	0.00	(0.44)	0.00	0.00	1.85	(2.60)	5.41
0P000070HA	0.99	0.25	0.14	0.59	1.09	(1.16)	2.77	(2.23)	5.87
CIG18006	0.99	0.25	0.14	0.59	1.09	(1.16)	2.77	(2.23)	5.87

Edgepoint Canadian Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Edgepoint Canadian fund to make a market-neutral strategy. Peer analysis of Edgepoint Canadian could also be used in its relative valuation, which is a method of valuing Edgepoint Canadian by comparing valuation metrics with similar companies.

Edgepoint Canadian Portfolio Edgepoint Global Portfolio Edgepoint Global Portfolio Fidelity Tactical High Fidelity ClearPath 2045 Bloom Select Income Global Healthcare Income CI Global Alpha CI Global Alpha American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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