Citadel Income Correlations

CTF-UN Fund

CAD 3.08 0.13 4.05%

The correlation of Citadel Income is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Citadel Income Correlation With Market

Very poor diversification

The correlation between Citadel Income and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Citadel Income and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Citadel Fund

0.78	0P0000706A	RBC Select Balanced	Pair Corr
0.78	0P0000S9O7	PIMCO Monthly Income	Pair Corr
0.79	0P0000S9O5	PIMCO Monthly Income	Pair Corr
0.79	0P000072KJ	RBC Canadian Dividend	Pair Corr
0.79	0P00007069	RBC Portefeuille	Pair Corr
0.82	0P0000WJMR	IG Mackenzie Dividend	Pair Corr
0.77	0P0000IUYO	Edgepoint Global Por	Pair Corr
0.71	0P0000ZCTA	IG Core Portfolio	Pair Corr
0.84	0P0001OO5K	NBI Canadian Equity	Pair Corr
0.84	0P0001GZLR	Fidelity Canadian Growth	Pair Corr
0.74	0P000072CO	CI Corporate Bond	Pair Corr
0.75	0P0000M3Z6	FRIQUE Canadian Dividend	Pair Corr
0.68	0P0000YW3H	Russell Inv Real	Pair Corr
0.81	0P000075R0	Dynamic Equity Income	Pair Corr
0.8	0P0000714B	Mawer New Canada	Pair Corr
0.83	0P000077FS	RBC Canadian Equity	Pair Corr
0.82	0P0000VUYE	Manulife Dividend Income	Pair Corr
0.77	0P0001H9RM	BMO Monthly Income	Pair Corr
0.83	0P00007060	RBC Canadian Money	Pair Corr
0.86	0P00008XLH	Fidelity Global Growth	Pair Corr
0.65	0P000077R7	CDSPI Global Growth	Pair Corr
0.82	0P0001K9TH	CIBC Money Market	Pair Corr
0.85	0P000075KH	NEI Canadian Equity	Pair Corr
0.8	0P000071HC	FRIQUE World Dividend	Pair Corr
0.79	0P000075B1	Resolute Performance	Pair Corr
0.82	0P000071QO	CI Money Market	Pair Corr
0.78	0P0001FGJG	Mackenzie Grnchp Glbl	Pair Corr
0.85	0P000071KM	NEI Clean Infrastructure	Pair Corr
0.72	0P0001FAU5	TD Comfort Aggressive	Pair Corr
0.62	GRNI	BMO BROOKFIELD GLOBAL	Pair Corr
0.82	0P0001OO5L	NBI International Equity	Pair Corr
0.81	0P0001J62O	Dfa World Equity	Pair Corr

Related Correlations Analysis

	YCM	ENI-UN	MDS-UN
YCM		0.67	0.25	YCM
ENI-UN	0.67		0.25	ENI-UN
MDS-UN	0.25	0.25		MDS-UN
	YCM	ENI-UN	MDS-UN

Risk-Adjusted Indicators

There is a big difference between Citadel Fund performing well and Citadel Income Fund 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 Citadel Income'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
YCM	0.99	0.31	0.00	(0.75)	0.00	0.00	3.97	(0.46)	17.21
ENI-UN	1.71	0.20	0.03	1.15	2.35	(3.20)	6.67	(4.21)	18.77
MDS-UN	1.58	0.13	0.00	(0.14)	1.81	(2.18)	5.19	(2.63)	13.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in Citadel Income 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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