CIBC Core Correlations

CPLS Etf

CAD 18.15 0.06 0.33%

The current 90-days correlation between CIBC Core Plus and Mackenzie Core Plus is -0.01 (i.e., Good diversification). 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

Very weak diversification

The correlation between CIBC Core Plus and DJI is 0.49 (i.e., Very weak 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

0.72	PCOR	PIMCO Managed Core	Pair Corr
0.76	XSE	iShares Conservative	Pair Corr
0.87	XSC	iShares Conservative	Pair Corr
0.62	HGU	BetaPro Canadian Gold	Pair Corr
0.65	HGGG	Harvest Global Gold	Pair Corr
0.65	GLDX	Global X Gold	Pair Corr
0.64	ZGD	BMO Equal Weight	Pair Corr
0.65	ZJG	BMO Junior Gold	Pair Corr
0.71	HBU	BetaPro Gold Bullion	Pair Corr
0.67	XGD	iShares SPTSX Global	Pair Corr
0.7	ZUD	BMO Dividend Hedged	Pair Corr
0.82	ZGI	BMO Global Infrastructure	Pair Corr
0.86	NXF	First Asset Energy	Pair Corr
0.74	MINT-B	Manulife Multifactor	Pair Corr
0.9	WSHR	Wealthsimple Shariah	Pair Corr
0.81	ZCON	BMO Conservative ETF	Pair Corr
0.72	DGRC	CI Canada Quality	Pair Corr
0.85	XEG	iShares SPTSX Capped	Pair Corr
0.93	XSB	iShares Canadian Short	Pair Corr
0.69	DXBG	Dynamic Global Fixed	Pair Corr
0.64	ZMID	BMO SP Mid	Pair Corr
0.73	XEU	iShares MSCI Europe	Pair Corr
0.76	PDIV	Purpose Enhanced Dividend	Pair Corr
0.69	BMAX	Brompton Enhanced Multi	Pair Corr
0.9	XSH	iShares Core Canadian	Pair Corr
0.93	XSTB	iShares ESG Aware	Pair Corr
0.81	ZLC	BMO Long Corporate	Pair Corr

Related Correlations Analysis

	PCOR	CPLS	XSE	MGB
PCOR		0.72	0.59	0.46	PCOR
CPLS	0.72		0.76	0.48	CPLS
XSE	0.59	0.76		0.73	XSE
MGB	0.46	0.48	0.73		MGB
	PCOR	CPLS	XSE	MGB

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
PCOR	0.23	0.00	(0.29)	0.22	0.28	(0.27)	0.71	(0.49)	1.95
CPLS	0.12	0.01	(0.58)	1.11	0.00	(0.15)	0.22	(0.22)	0.72
XSE	0.13	0.00	(0.54)	0.05	0.14	(0.14)	0.23	(0.23)	0.79
MGB	0.29	(0.01)	(0.31)	(0.07)	0.32	(0.34)	0.68	(0.62)	1.37

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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