BMO Concentrated Correlations

0P0001D8QF

CAD 18.13 0.10 0.55%

The current 90-days correlation between BMO Concentrated Global and CDSPI Global Growth is 0.13 (i.e., Average diversification). The correlation of BMO Concentrated 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.

BMO Concentrated Correlation With Market

Modest diversification

The correlation between BMO Concentrated Global and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BMO Concentrated Global and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BMO Fund

0.78	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.84	0P00012UCU	RBC Global Equity	Pair Corr
0.72	0P000072UA	Invesco Global Companies	Pair Corr
0.77	0P0000MOTX	Manulife Global Equity	Pair Corr
0.74	0P0000752C	CI Black Creek	Pair Corr

Related Correlations Analysis

	0P000077R7	0P000072UA	FGEP	0P0000760C	0P00009XRG	0P0001D8QF	0P0000733H	CIF823	0P000070I2
0P000077R7		-0.34	0.73	0.89	-0.22	0.12	0.86	0.83	-0.65	0P000077R7
0P000072UA	-0.34		0.05	-0.4	0.56	0.72	-0.33	-0.11	0.62	0P000072UA
FGEP	0.73	0.05		0.64	-0.18	0.27	0.84	0.87	-0.24	FGEP
0P0000760C	0.89	-0.4	0.64		-0.16	-0.01	0.85	0.82	-0.58	0P0000760C
0P00009XRG	-0.22	0.56	-0.18	-0.16		0.52	-0.31	-0.09	0.3	0P00009XRG
0P0001D8QF	0.12	0.72	0.27	-0.01	0.52		0.05	0.32	0.08	0P0001D8QF
0P0000733H	0.86	-0.33	0.84	0.85	-0.31	0.05		0.94	-0.53	0P0000733H
CIF823	0.83	-0.11	0.87	0.82	-0.09	0.32	0.94		-0.42	CIF823
0P000070I2	-0.65	0.62	-0.24	-0.58	0.3	0.08	-0.53	-0.42		0P000070I2
	0P000077R7	0P000072UA	FGEP	0P0000760C	0P00009XRG	0P0001D8QF	0P0000733H	CIF823	0P000070I2

Click cells to compare fundamentals

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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

CIF823	+ 0.94	0P0000733H
0P0000760C	+ 0.89	0P000077R7
CIF823	+ 0.87	FGEP
0P0000733H	+ 0.86	0P000077R7
0P0000733H	+ 0.85	0P0000760C
0P0000733H	+ 0.84	FGEP

High negative correlations

0P000070I2	- 0.65	0P000077R7
0P000070I2	- 0.58	0P0000760C
0P000070I2	- 0.53	0P0000733H
0P000070I2	- 0.42	CIF823
0P0000760C	- 0.4	0P000072UA
0P000072UA	- 0.34	0P000077R7

Risk-Adjusted Indicators

There is a big difference between BMO Fund performing well and BMO Concentrated 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 BMO Concentrated'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
0P000077R7	0.57	0.05	0.03	(1.10)	0.72	(0.57)	1.07	(1.36)	3.84
0P000072UA	0.64	(0.05)	0.00	(0.12)	0.00	0.00	1.14	(1.46)	9.64
FGEP	0.46	0.06	0.06	0.27	0.56	(0.50)	1.16	(0.99)	2.86
0P0000760C	0.70	0.06	0.04	24.57	0.83	(0.75)	1.29	(1.37)	5.84
0P00009XRG	0.56	(0.07)	0.00	(0.27)	0.00	0.00	1.34	(1.26)	3.36
0P0001D8QF	0.46	(0.03)	0.00	(0.13)	0.00	0.00	0.92	(1.17)	3.26
0P0000733H	0.87	0.12	0.10	0.29	0.95	(0.99)	1.88	(1.72)	5.68
CIF823	0.57	0.06	0.05	0.20	0.71	(0.56)	1.14	(1.36)	3.86
0P000070I2	0.82	0.01	(0.01)	0.06	1.03	(0.80)	1.66	(1.50)	4.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in BMO Concentrated 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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