NEI Clean Correlations
| 0P0001OF6V | 9.51 0.04 0.42% |
The current 90-days correlation between NEI Clean Infrastructure and TD Canadian Bond is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NEI Clean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NEI Clean Infrastructure moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
NEI Clean Correlation With Market
Significant diversification
The correlation between NEI Clean Infrastructure and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEI Clean Infrastructure and DJI in the same portfolio, assuming nothing else is changed.
NEI |
The ability to find closely correlated positions to NEI Clean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEI Clean 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 NEI Clean - 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 NEI Clean Infrastructure to buy it.
Moving against NEI Fund
| 0.82 | 0P000072KJ | RBC Canadian Dividend | PairCorr |
| 0.63 | 0P0000S9O7 | PIMCO Monthly Income | PairCorr |
| 0.63 | 0P0000S9O5 | PIMCO Monthly Income | PairCorr |
| 0.6 | 0P0000WJMR | IG Mackenzie Dividend | PairCorr |
| 0.59 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
Related Correlations Analysis
| 0.81 | 0.93 | 0.69 | 0.29 | TDB909 | ||
| 0.81 | 0.94 | 0.76 | 0.5 | 0P0001LY14 | ||
| 0.93 | 0.94 | 0.76 | 0.41 | 0P0001PZNT | ||
| 0.69 | 0.76 | 0.76 | 0.53 | 0P0000XXNF | ||
| 0.29 | 0.5 | 0.41 | 0.53 | 0P0000VPWA | ||
Risk-Adjusted Indicators
There is a big difference between NEI Fund performing well and NEI Clean 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 NEI Clean'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TDB909 | 0.19 | (0.02) | 0.00 | (1.00) | 0.00 | 0.29 | 1.32 | |||
| 0P0001LY14 | 0.12 | 0.00 | (0.49) | 0.08 | 0.10 | 0.27 | 0.82 | |||
| 0P0001PZNT | 0.14 | (0.01) | (0.38) | (0.08) | 0.19 | 0.28 | 1.13 | |||
| 0P0000XXNF | 0.18 | (0.01) | (0.22) | 1.58 | 0.37 | 0.23 | 3.87 | |||
| 0P0000VPWA | 0.18 | (0.01) | (0.40) | (0.79) | 0.21 | 0.34 | 1.13 |
NEI Clean 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 NEI Clean fund to make a market-neutral strategy. Peer analysis of NEI Clean could also be used in its relative valuation, which is a method of valuing NEI Clean by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |