TD Comfort Correlations

0P0001FAU8

CAD 12.95 0.03 0.23%

The current 90-days correlation between TD Comfort Balanced and Fidelity Tactical High is 0.51 (i.e., Very weak diversification). The correlation of TD Comfort 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.

TD Comfort Correlation With Market

Weak diversification

The correlation between TD Comfort Balanced and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Comfort Balanced and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with 0P0001FAU8 Fund

0.89	0P0000706A	RBC Select Balanced	Pair Corr
0.97	0P0000714D	Mawer Balanced	Pair Corr

Related Correlations Analysis

	FTHI	BLB-UN	0P00007174	SSF-UN	0P0000JO4R	CTF-UN	0P00007065	JFS-UN	0P0001FAU5
FTHI		0.67	-0.65	0.89	0.94	0.71	0.79	-0.53	0.94	FTHI
BLB-UN	0.67		-0.44	0.69	0.73	0.86	0.43	-0.25	0.76	BLB-UN
0P00007174	-0.65	-0.44		-0.58	-0.68	-0.56	-0.82	0.29	-0.61	0P00007174
SSF-UN	0.89	0.69	-0.58		0.87	0.76	0.62	-0.55	0.82	SSF-UN
0P0000JO4R	0.94	0.73	-0.68	0.87		0.81	0.75	-0.51	0.95	0P0000JO4R
CTF-UN	0.71	0.86	-0.56	0.76	0.81		0.49	-0.4	0.75	CTF-UN
0P00007065	0.79	0.43	-0.82	0.62	0.75	0.49		-0.26	0.73	0P00007065
JFS-UN	-0.53	-0.25	0.29	-0.55	-0.51	-0.4	-0.26		-0.41	JFS-UN
0P0001FAU5	0.94	0.76	-0.61	0.82	0.95	0.75	0.73	-0.41		0P0001FAU5
	FTHI	BLB-UN	0P00007174	SSF-UN	0P0000JO4R	CTF-UN	0P00007065	JFS-UN	0P0001FAU5

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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

0P0001FAU5	+ 0.95	0P0000JO4R
0P0000JO4R	+ 0.94	FTHI
0P0001FAU5	+ 0.94	FTHI
SSF-UN	+ 0.89	FTHI
0P0000JO4R	+ 0.87	SSF-UN
CTF-UN	+ 0.86	BLB-UN

High negative correlations

0P00007065	- 0.82	0P00007174
0P0000JO4R	- 0.68	0P00007174
0P00007174	- 0.65	FTHI
0P0001FAU5	- 0.61	0P00007174
SSF-UN	- 0.58	0P00007174
CTF-UN	- 0.56	0P00007174

Risk-Adjusted Indicators

There is a big difference between 0P0001FAU8 Fund performing well and TD Comfort 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 TD Comfort'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
FTHI	0.40	0.09	(0.01)	0.58	0.11	(0.52)	1.11	(0.60)	3.04
BLB-UN	0.48	0.04	(0.03)	(0.67)	1.14	(1.37)	2.08	(0.96)	11.33
0P00007174	0.25	(0.04)	0.00	2.01	0.00	0.00	0.51	(0.59)	1.54
SSF-UN	0.32	0.04	(0.15)	0.60	0.25	(0.45)	0.73	(0.71)	1.86
0P0000JO4R	0.32	0.07	(0.06)	0.47	0.22	(0.35)	0.74	(0.58)	2.09
CTF-UN	1.13	0.23	0.02	(0.27)	1.27	(1.94)	3.24	(2.07)	9.82
0P00007065	0.83	0.11	(0.01)	(2.52)	1.08	(0.83)	1.67	(2.04)	5.26
JFS-UN	0.50	(0.02)	0.00	0.19	0.00	0.00	1.58	(1.11)	3.47
0P0001FAU5	0.40	0.04	(0.10)	0.27	0.35	(0.48)	0.79	(0.92)	2.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in TD Comfort 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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