Dynamic Premium Correlations

0P0000ZXLT

11.82 0.02 0.17%

The current 90-days correlation between Dynamic Premium Yield and 0P000075GQ is 0.01 (i.e., Significant diversification). The correlation of Dynamic Premium 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Dynamic Premium Correlation With Market

Very poor diversification

The correlation between Dynamic Premium Yield and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Premium Yield and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dynamic Fund

0.93	0P0000706A	RBC Select Balanced	Pair Corr
0.84	0P0000S9O7	PIMCO Monthly Income	Pair Corr
0.84	0P0000S9O5	PIMCO Monthly Income	Pair Corr
0.77	0P000072KJ	RBC Canadian Dividend	Pair Corr
0.93	0P00007069	RBC Portefeuille	Pair Corr
0.89	0P0000WJMR	IG Mackenzie Dividend	Pair Corr
0.88	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.75	0P0001K9TH	CIBC Money Market	Pair Corr

Related Correlations Analysis

	0P000075R6	0P0001EQZG	0P00009XXZ	0P0000ZXLT	DYN004	0P00007694	0P000070OO	0P0001N8MZ	0P000075GQ
0P000075R6		-0.13	-0.14	-0.26	0.5	-0.48	-0.36	0.74	-0.61	0P000075R6
0P0001EQZG	-0.13		0.28	0.97	-0.49	0.36	0.93	0.16	0.59	0P0001EQZG
0P00009XXZ	-0.14	0.28		0.32	-0.14	-0.22	0.39	-0.02	0.58	0P00009XXZ
0P0000ZXLT	-0.26	0.97	0.32		-0.51	0.37	0.94	0.04	0.67	0P0000ZXLT
DYN004	0.5	-0.49	-0.14	-0.51		-0.4	-0.55	0.32	-0.55	DYN004
0P00007694	-0.48	0.36	-0.22	0.37	-0.4		0.46	-0.2	0.31	0P00007694
0P000070OO	-0.36	0.93	0.39	0.94	-0.55	0.46		0.05	0.79	0P000070OO
0P0001N8MZ	0.74	0.16	-0.02	0.04	0.32	-0.2	0.05		-0.23	0P0001N8MZ
0P000075GQ	-0.61	0.59	0.58	0.67	-0.55	0.31	0.79	-0.23		0P000075GQ
	0P000075R6	0P0001EQZG	0P00009XXZ	0P0000ZXLT	DYN004	0P00007694	0P000070OO	0P0001N8MZ	0P000075GQ

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

0P0000ZXLT	+ 0.97	0P0001EQZG
0P000070OO	+ 0.94	0P0000ZXLT
0P000070OO	+ 0.93	0P0001EQZG
0P000075GQ	+ 0.79	0P000070OO
0P0001N8MZ	+ 0.74	0P000075R6
0P000075GQ	+ 0.67	0P0000ZXLT

High negative correlations

0P000075GQ	- 0.61	0P000075R6
0P000075GQ	- 0.55	DYN004
0P000070OO	- 0.55	DYN004
DYN004	- 0.51	0P0000ZXLT
DYN004	- 0.49	0P0001EQZG
0P00007694	- 0.48	0P000075R6

Risk-Adjusted Indicators

There is a big difference between Dynamic Fund performing well and Dynamic Premium 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 Dynamic Premium'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
0P000075R6	1.21	(0.29)	0.00	(0.44)	0.00	0.00	2.12	(3.44)	8.35
0P0001EQZG	0.33	(0.02)	0.00	(0.05)	0.00	0.00	0.68	(0.86)	2.14
0P00009XXZ	0.37	0.00	(0.09)	0.02	0.46	(0.38)	0.64	(0.84)	1.89
0P0000ZXLT	0.25	(0.01)	(0.13)	(0.04)	0.32	(0.28)	0.51	(0.67)	1.36
DYN004	1.24	(0.11)	0.00	(0.38)	0.00	0.00	2.51	(3.44)	8.34
0P00007694	0.72	0.07	0.03	0.51	1.27	(0.77)	1.20	(1.17)	14.64
0P000070OO	0.31	(0.01)	(0.10)	0.00	0.40	(0.31)	0.64	(0.60)	1.75
0P0001N8MZ	0.51	(0.15)	0.00	(0.31)	0.00	0.00	1.12	(1.14)	3.13
0P000075GQ	0.03	0.00	(0.33)	0.68	0.00	(0.11)	0.11	(0.11)	0.33

Dynamic Premium 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 Dynamic Premium fund to make a market-neutral strategy. Peer analysis of Dynamic Premium could also be used in its relative valuation, which is a method of valuing Dynamic Premium by comparing valuation metrics with similar companies.

Dynamic Power American Dynamic Premium Yield Dynamic Global Infrastructure Dynamic Premium Yield Dynamic Power American Fidelity ClearPath 2045 FRIQUE Balanced Portfolio Mackenzie Ivy European 0P000075GQ American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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