CIBC Core Correlations

CPLS Etf

CAD 17.98 0.10 0.56%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CIBC Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CIBC Core Plus moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CIBC Core Correlation With Market

Good diversification

The correlation between CIBC Core Plus and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIBC Core Plus and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CIBC Core 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 Core 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 Core - 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 Core Plus to buy it.

Moving together with CIBC Etf

0.86	HTB	Global X 7	Pair Corr
0.68	FBTC	Fidelity Advantage	Pair Corr
0.68	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.68	EBIT	Bitcoin ETF CAD	Pair Corr
0.67	BTCC	Purpose Bitcoin CAD	Pair Corr
0.62	CBCX	CI Galaxy Blockchain	Pair Corr
0.68	BTCY	Purpose Bitcoin Yield	Pair Corr
0.71	ETC	Evolve Cryptocurrencies	Pair Corr
0.73	QQCL	Global X Enhanced	Pair Corr
0.75	ZPAY	BMO Premium Yield	Pair Corr
0.74	USCL	Global X Enhanced	Pair Corr
0.78	TGRO	TD Growth ETF	Pair Corr
0.65	XFR	iShares Floating Rate	Pair Corr
0.69	XDV	iShares Canadian Select	Pair Corr
0.64	FLCD	Franklin FTSE Canada	Pair Corr
0.74	MCSB	Mackenzie Canadian Short	Pair Corr
0.7	QETH-U	Ether Fund	Pair Corr
0.74	QCLN	First Trust Nasdaq	Pair Corr
0.61	MPY	Mulvihill Premium Yield	Pair Corr
0.75	ZFC	BMO SIA Focused	Pair Corr
0.67	HBGD-U	Global X Big	Pair Corr
0.85	ZIC	BMO Mid Term	Pair Corr
0.84	ZUAG	BMO Aggregate Bond	Pair Corr
0.73	PFAE	Picton Mahoney Fortified	Pair Corr
0.83	ZGRO	BMO Growth ETF	Pair Corr
0.73	ZMBS	BMO Canadian MBS	Pair Corr
0.84	EQCC	Global X All	Pair Corr
0.74	FEQT	Fidelity All in	Pair Corr

Moving against CIBC Etf

0.42

HGU

BetaPro Canadian Gold

Pair Corr

Related Correlations Analysis

	CMUE	CCRE	CCEI	CCLN	CCNS	CQLU	CSBG	CGLO	CQLI
CMUE		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CMUE
CCRE	0.0		0.67	0.1	0.8	-0.02	0.07	0.8	-0.09	CCRE
CCEI	0.0	0.67		0.18	0.65	0.06	0.08	0.83	-0.13	CCEI
CCLN	0.0	0.1	0.18		0.1	-0.21	0.33	0.07	-0.21	CCLN
CCNS	0.0	0.8	0.65	0.1		-0.26	0.29	0.73	-0.28	CCNS
CQLU	0.0	-0.02	0.06	-0.21	-0.26		-0.94	0.21	0.84	CQLU
CSBG	0.0	0.07	0.08	0.33	0.29	-0.94		-0.1	-0.89	CSBG
CGLO	0.0	0.8	0.83	0.07	0.73	0.21	-0.1		0.0	CGLO
CQLI	0.0	-0.09	-0.13	-0.21	-0.28	0.84	-0.89	0.0		CQLI
	CMUE	CCRE	CCEI	CCLN	CCNS	CQLU	CSBG	CGLO	CQLI

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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

CQLI	+ 0.84	CQLU
CGLO	+ 0.83	CCEI
CCNS	+ 0.8	CCRE
CGLO	+ 0.8	CCRE
CGLO	+ 0.73	CCNS
CCEI	+ 0.67	CCRE

High negative correlations

CSBG	- 0.94	CQLU
CQLI	- 0.89	CSBG
CQLI	- 0.28	CCNS
CQLU	- 0.26	CCNS
CQLI	- 0.21	CCLN
CQLU	- 0.21	CCLN

CIBC Core Constituents Risk-Adjusted Indicators

There is a big difference between CIBC Etf performing well and CIBC Core 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 Core'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
CMUE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCRE	0.25	0.01	(0.05)	(0.13)	0.26	(0.30)	0.56	(0.45)	1.24
CCEI	0.47	0.04	0.04	0.17	0.60	(0.51)	0.90	(0.94)	3.59
CCLN	0.88	0.03	0.00	(0.14)	1.30	(1.65)	2.78	(2.88)	7.29
CCNS	0.11	0.01	(0.05)	(0.16)	0.00	(0.25)	0.33	(0.22)	0.88
CQLU	0.82	(0.21)	0.00	(0.36)	0.00	0.00	1.49	(1.14)	22.79
CSBG	0.03	0.01	0.00	(2.89)	0.00	0.00	0.00	0.00	1.14
CGLO	0.59	0.05	0.06	0.16	0.51	(0.76)	1.26	(0.88)	3.77
CQLI	0.55	(0.24)	0.00	1.04	0.00	0.00	0.66	(0.89)	14.16

Be your own money manager

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