CIBC Active Correlations

CACB Etf

CAD 19.89 0.08 0.40%

The current 90-days correlation between CIBC Active Investment and iShares Floating Rate is -0.02 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CIBC Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIBC Active Investment moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CIBC Active Correlation With Market

Significant diversification

The correlation between CIBC Active Investment and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIBC Active Investment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CIBC Etf

0.78	XCB	iShares Core Canadian	Pair Corr
0.84	ZCM	BMO Mid Corporate	Pair Corr
0.75	HAB	Global X Active	Pair Corr
0.81	CBH	iShares 1 10Yr	Pair Corr
0.79	NSCC	NBI Sustainable Canadian	Pair Corr
0.78	FLCI	Franklin Bissett Cor	Pair Corr
0.63	RQP	RBC Target 2027	Pair Corr

Related Correlations Analysis

	XFR	CBH	FINC	ZUAG-U	TNO-H	EDGF	SOLR	0P0000OXA6	ULV-U
XFR		0.53	0.85	-0.58	0.02	0.6	-0.58	0.87	0.85	XFR
CBH	0.53		0.54	0.18	0.23	0.52	-0.26	0.3	0.69	CBH
FINC	0.85	0.54		-0.36	0.08	0.67	-0.33	0.69	0.7	FINC
ZUAG-U	-0.58	0.18	-0.36		0.41	-0.14	0.5	-0.8	-0.29	ZUAG-U
TNO-H	0.02	0.23	0.08	0.41		0.26	0.27	-0.23	0.2	TNO-H
EDGF	0.6	0.52	0.67	-0.14	0.26		-0.17	0.49	0.48	EDGF
SOLR	-0.58	-0.26	-0.33	0.5	0.27	-0.17		-0.57	-0.51	SOLR
0P0000OXA6	0.87	0.3	0.69	-0.8	-0.23	0.49	-0.57		0.63	0P0000OXA6
ULV-U	0.85	0.69	0.7	-0.29	0.2	0.48	-0.51	0.63		ULV-U
	XFR	CBH	FINC	ZUAG-U	TNO-H	EDGF	SOLR	0P0000OXA6	ULV-U

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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

0P0000OXA6	+ 0.87	XFR
FINC	+ 0.85	XFR
ULV-U	+ 0.85	XFR
ULV-U	+ 0.7	FINC
ULV-U	+ 0.69	CBH
0P0000OXA6	+ 0.69	FINC

High negative correlations

0P0000OXA6	- 0.8	ZUAG-U
SOLR	- 0.58	XFR
ZUAG-U	- 0.58	XFR
0P0000OXA6	- 0.57	SOLR
ULV-U	- 0.51	SOLR
ZUAG-U	- 0.36	FINC

CIBC Active Constituents Risk-Adjusted Indicators

There is a big difference between CIBC Etf performing well and CIBC Active 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 CIBC Active'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
XFR	0.03	0.00	(1.48)	(1.05)	0.00	(0.06)	0.05	(0.05)	0.15
CBH	0.14	0.00	(0.37)	0.16	0.14	(0.17)	0.39	(0.28)	1.07
FINC	0.19	0.06	0.00	(0.39)	0.00	0.00	0.38	(0.41)	4.00
ZUAG-U	0.14	(0.04)	0.00	1.66	0.00	0.00	0.42	(0.46)	2.35
TNO-H	14.58	4.51	0.00	(0.44)	0.00	0.00	100.00	(50.00)	150.00
EDGF	0.80	0.01	(0.03)	0.15	1.10	(1.18)	2.20	(1.86)	6.42
SOLR	5.29	0.15	0.00	(0.02)	7.60	(25.00)	25.00	(20.00)	45.00
0P0000OXA6	0.51	0.09	0.02	1.16	0.54	(0.55)	1.07	(1.18)	4.34
ULV-U	0.25	0.10	0.00	(1.30)	0.00	0.00	0.46	0.00	5.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in CIBC Active 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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