Hamilton Gold Correlations

AMAX Etf

35.73 0.10 0.28%

The current 90-days correlation between Hamilton Gold Producer and Hamilton Energy YIELD is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Gold Producer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Gold Correlation With Market

Modest diversification

The correlation between Hamilton Gold Producer and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Gold Producer and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hamilton Etf

0.99	XGD	iShares SPTSX Global	Pair Corr
0.98	ZGD	BMO Equal Weight	Pair Corr
0.99	ZJG	BMO Junior Gold	Pair Corr
0.91	HEP	Global X Enhanced	Pair Corr
0.98	HGGG	Harvest Global Gold	Pair Corr
0.9	HGU	BetaPro Canadian Gold	Pair Corr
0.74	HFU	BetaPro SPTSX Capped	Pair Corr
0.68	HBU	BetaPro Gold Bullion	Pair Corr

Moving against Hamilton Etf

0.37

XIT

iShares SPTSX Capped

Pair Corr

Related Correlations Analysis

	EMAX	XMV	HSH	QBTL	RBNK	XST	FMAX	ZWK	QQCL	LMAX
EMAX		0.37	0.26	-0.3	0.35	0.43	0.11	0.31	0.31	0.61	EMAX
XMV	0.37		0.47	-0.58	0.9	0.9	0.78	0.86	0.0	0.66	XMV
HSH	0.26	0.47		-0.82	0.61	0.32	0.61	0.6	0.74	0.36	HSH
QBTL	-0.3	-0.58	-0.82		-0.8	-0.47	-0.64	-0.73	-0.6	-0.39	QBTL
RBNK	0.35	0.9	0.61	-0.8		0.78	0.83	0.94	0.17	0.56	RBNK
XST	0.43	0.9	0.32	-0.47	0.78		0.55	0.68	0.01	0.78	XST
FMAX	0.11	0.78	0.61	-0.64	0.83	0.55		0.93	0.09	0.27	FMAX
ZWK	0.31	0.86	0.6	-0.73	0.94	0.68	0.93		0.11	0.4	ZWK
QQCL	0.31	0.0	0.74	-0.6	0.17	0.01	0.09	0.11		0.3	QQCL
LMAX	0.61	0.66	0.36	-0.39	0.56	0.78	0.27	0.4	0.3		LMAX
	EMAX	XMV	HSH	QBTL	RBNK	XST	FMAX	ZWK	QQCL	LMAX

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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

ZWK	+ 0.94	RBNK
ZWK	+ 0.93	FMAX
RBNK	+ 0.9	XMV
XST	+ 0.9	XMV
ZWK	+ 0.86	XMV
FMAX	+ 0.83	RBNK

High negative correlations

QBTL	- 0.82	HSH
RBNK	- 0.8	QBTL
ZWK	- 0.73	QBTL
FMAX	- 0.64	QBTL
QQCL	- 0.6	QBTL
QBTL	- 0.58	XMV

Hamilton Gold Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Gold ETF 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 Hamilton Gold'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
EMAX	0.89	0.00	(0.03)	0.07	1.37	(0.77)	1.65	(1.62)	5.79
XMV	0.42	0.05	0.02	0.24	0.39	(0.49)	1.06	(0.72)	3.15
HSH	0.61	0.00	(0.03)	0.06	0.81	(0.60)	1.09	(1.34)	3.58
QBTL	1.05	(0.12)	0.00	0.29	0.00	0.00	2.50	(2.38)	9.56
RBNK	0.51	0.14	0.15	0.40	0.41	(0.58)	1.25	(1.02)	2.86
XST	0.67	0.11	0.06	0.74	0.86	(0.69)	1.85	(1.40)	5.57
FMAX	0.60	(0.01)	(0.04)	0.04	0.81	(0.67)	1.24	(1.22)	5.56
ZWK	0.85	0.05	0.02	0.15	1.11	(0.94)	1.97	(1.52)	7.90
QQCL	0.75	0.00	(0.02)	0.06	1.01	(0.84)	1.60	(1.73)	4.87
LMAX	0.62	0.12	0.09	0.51	0.64	(0.64)	1.84	(1.19)	4.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hamilton Gold 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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