Evolve Banks Correlations

CALL Etf

CAD 14.49 0.01 0.07%

The current 90-days correlation between Evolve Banks Enhanced and TD Q International is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evolve Banks moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve Banks Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Evolve Banks Correlation With Market

Very poor diversification

The correlation between Evolve Banks Enhanced and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolve Banks Enhanced and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Evolve Etf

0.97	ZEB	BMO SPTSX Equal	Pair Corr
0.93	XFN	iShares SPTSX Capped	Pair Corr
0.99	ZBK	BMO Equal Weight	Pair Corr
0.97	HCA	Hamilton Canadian Bank	Pair Corr
1.0	ZUB	BMO Equal Weight	Pair Corr
0.8	FSF	CI Global Financial	Pair Corr
0.99	ZWK	BMO Covered Call	Pair Corr
0.97	CIC	CI Canadian Banks	Pair Corr
0.67	FLI	CI Canada Lifeco	Pair Corr
0.83	CEW	iShares Equal Weight	Pair Corr
0.86	XIU	iShares SPTSX 60	Pair Corr
0.72	XSP	iShares Core SP	Pair Corr
0.86	XIC	iShares Core SPTSX	Pair Corr
0.86	ZCN	BMO SPTSX Capped	Pair Corr
0.91	GCTB	Guardian Ultra Short	Pair Corr
0.76	AMAX	Hamilton Gold Producer	Pair Corr
0.78	GDV	Global Dividend Growth	Pair Corr
0.8	HXU	BetaPro SP TSX	Pair Corr
0.62	ZCON	BMO Conservative ETF	Pair Corr
0.82	PDIV	Purpose Enhanced Dividend	Pair Corr
0.79	RAAA	Corton Enhanced Income	Pair Corr
0.83	CPD	iShares SPTSX Canadian	Pair Corr
0.83	EIT-UN	Canoe EIT Income	Pair Corr
0.81	NHYB	NBI High Yield	Pair Corr
0.81	ATSX	Accelerate Canadian Long	Pair Corr
0.67	XSH	iShares Core Canadian	Pair Corr
0.89	DXBG	Dynamic Global Fixed	Pair Corr

Moving against Evolve Etf

0.64

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	FLI	XCV	QXM	XDUH	ZFC	XSE	RIDH	XMM	HCA	TILV
FLI		0.45	0.6	0.14	0.37	-0.3	0.42	-0.12	0.71	0.06	FLI
XCV	0.45		0.91	0.85	0.9	0.25	0.97	0.6	0.91	0.84	XCV
QXM	0.6	0.91		0.64	0.92	0.06	0.89	0.55	0.93	0.63	QXM
XDUH	0.14	0.85	0.64		0.72	0.46	0.87	0.6	0.66	0.92	XDUH
ZFC	0.37	0.9	0.92	0.72		0.22	0.9	0.7	0.82	0.72	ZFC
XSE	-0.3	0.25	0.06	0.46	0.22		0.28	0.52	-0.02	0.61	XSE
RIDH	0.42	0.97	0.89	0.87	0.9	0.28		0.69	0.87	0.87	RIDH
XMM	-0.12	0.6	0.55	0.6	0.7	0.52	0.69		0.35	0.78	XMM
HCA	0.71	0.91	0.93	0.66	0.82	-0.02	0.87	0.35		0.59	HCA
TILV	0.06	0.84	0.63	0.92	0.72	0.61	0.87	0.78	0.59		TILV
	FLI	XCV	QXM	XDUH	ZFC	XSE	RIDH	XMM	HCA	TILV

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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

RIDH	+ 0.97	XCV
HCA	+ 0.93	QXM
ZFC	+ 0.92	QXM
TILV	+ 0.92	XDUH
QXM	+ 0.91	XCV
HCA	+ 0.91	XCV

High negative correlations

XSE	- 0.3	FLI
XMM	- 0.12	FLI
HCA	- 0.02	XSE

Evolve Banks Constituents Risk-Adjusted Indicators

There is a big difference between Evolve Etf performing well and Evolve Banks 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 Evolve Banks' 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
FLI	0.65	0.02	(0.03)	0.12	0.79	(0.73)	1.40	(1.46)	4.74
XCV	0.42	0.15	0.19	0.77	0.10	(0.49)	1.08	(0.82)	2.29
QXM	0.64	0.11	0.09	0.28	0.64	(0.69)	1.45	(1.15)	3.83
XDUH	0.55	0.10	0.07	0.38	0.57	(0.63)	1.28	(1.01)	4.03
ZFC	0.75	0.09	0.04	0.24	1.39	(0.80)	1.69	(1.77)	10.10
XSE	0.13	0.00	(0.29)	0.04	0.14	(0.14)	0.23	(0.23)	0.79
RIDH	0.51	0.13	0.16	0.30	0.36	(0.66)	1.14	(0.82)	3.26
XMM	0.42	(0.01)	(0.09)	0.04	0.49	(0.50)	0.90	(0.99)	2.84
HCA	0.58	0.12	0.14	0.36	0.41	(0.71)	1.36	(1.03)	3.33
TILV	0.41	0.12	0.13	1.04	0.24	(0.47)	0.95	(0.68)	2.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Evolve Banks 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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