PIMCO Canadian Correlations

CORE Etf

20.73 0.04 0.19%

The current 90-days correlation between PIMCO Canadian Core and BMO SPTSX Equal is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PIMCO Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PIMCO Canadian Core moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PIMCO Canadian Correlation With Market

Modest diversification

The correlation between PIMCO Canadian Core and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PIMCO Canadian Core and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PIMCO Etf

0.94	ZAG	BMO Aggregate Bond	Pair Corr
0.94	XBB	iShares Canadian Universe	Pair Corr
0.8	TCLB	TD Canadian Long	Pair Corr
0.62	MCSM	Manulife Multifactor	Pair Corr
0.61	GBUL	Ninepoint Gold Bullion	Pair Corr
0.89	VSB	Vanguard Canadian Short	Pair Corr
0.64	WSRD	Wealthsimple Developed	Pair Corr
0.61	UMI	CI MidCap Dividend	Pair Corr
0.73	TGFI	TD Active Global	Pair Corr
0.67	EIT-UN	Canoe EIT Income	Pair Corr
0.81	HXE	Global X SPTSX	Pair Corr
0.77	XDG	iShares Core MSCI	Pair Corr
0.75	HXH	Global X Canadian	Pair Corr
0.8	HEU	BetaPro SP TSX	Pair Corr
0.71	XBAL	iShares Core Balanced	Pair Corr
0.69	RID	RBC Quant EAFE	Pair Corr
0.72	PDIV	Purpose Enhanced Dividend	Pair Corr
0.76	XMM	iShares MSCI Min	Pair Corr
0.8	VSC	Vanguard Canadian Short	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	-0.21	0.24	0.18	-0.35	-0.04	0.32	0.22	0.28	META
MSFT	-0.19		0.84	-0.63	-0.85	0.8	0.92	0.29	-0.89	-0.94	MSFT
UBER	-0.21	0.84		-0.55	-0.76	0.88	0.75	0.16	-0.8	-0.83	UBER
F	0.24	-0.63	-0.55		0.37	-0.56	-0.45	0.04	0.75	0.68	F
T	0.18	-0.85	-0.76	0.37		-0.64	-0.84	-0.26	0.72	0.74	T
A	-0.35	0.8	0.88	-0.56	-0.64		0.64	0.13	-0.74	-0.83	A
CRM	-0.04	0.92	0.75	-0.45	-0.84	0.64		0.51	-0.79	-0.88	CRM
JPM	0.32	0.29	0.16	0.04	-0.26	0.13	0.51		-0.05	-0.26	JPM
MRK	0.22	-0.89	-0.8	0.75	0.72	-0.74	-0.79	-0.05		0.91	MRK
XOM	0.28	-0.94	-0.83	0.68	0.74	-0.83	-0.88	-0.26	0.91		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.92	MSFT
XOM	+ 0.91	MRK
A	+ 0.88	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
CRM	+ 0.75	UBER

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.89	MSFT
XOM	- 0.88	CRM
T	- 0.85	MSFT
CRM	- 0.84	T
XOM	- 0.83	A

PIMCO Canadian Competition Risk-Adjusted Indicators

There is a big difference between PIMCO Etf performing well and PIMCO Canadian 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 PIMCO Canadian'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
META	1.53	0.21	0.03	(0.41)	1.51	(1.75)	3.43	(2.81)	13.69
MSFT	1.31	(0.30)	0.00	(0.57)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.22)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.25	0.14	0.11	0.26	0.96	(1.56)	3.61	(1.98)	7.50
T	1.04	0.14	0.02	(1.11)	0.99	(1.21)	3.87	(1.76)	7.44
A	1.26	(0.24)	0.00	(0.95)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.78	(0.29)	0.00	(0.14)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.24	(0.13)	(0.03)	0.03	1.76	(1.30)	2.34	(3.11)	8.17
MRK	1.26	0.28	0.17	0.52	1.11	(1.40)	2.81	(2.06)	8.74
XOM	1.29	0.36	0.18	3.96	1.09	(1.50)	2.90	(2.44)	6.83

PIMCO Canadian 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 PIMCO Canadian etf to make a market-neutral strategy. Peer analysis of PIMCO Canadian could also be used in its relative valuation, which is a method of valuing PIMCO Canadian by comparing valuation metrics with similar companies.

iShares SPTSX 60 iShares Core SP iShares Core SPTSX BMO Aggregate Bond iShares Canadian Universe BMO SPTSX Capped BMO SP 500 TD Canadian Long Vanguard SP 500 BMO SPTSX Equal American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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