Evolve Cloud Correlations

DATA Etf

CAD 26.13 0.03 0.11%

The current 90-days correlation between Evolve Cloud Computing and Invesco SP 500 is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evolve Cloud moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve Cloud Computing moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Evolve Cloud Correlation With Market

Very good diversification

The correlation between Evolve Cloud Computing and DJI is -0.42 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolve Cloud Computing and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Evolve Cloud 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 Cloud 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 Cloud - 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 Cloud Computing to buy it.

Moving together with Evolve Etf

0.89	XIT	iShares SPTSX Capped	Pair Corr
0.87	TEC	TD Global Technology	Pair Corr
0.85	CYBR	Evolve Cyber Security	Pair Corr

Moving against Evolve Etf

0.76	COW	iShares Global Agric	Pair Corr
0.62	XST	iShares SPTSX Capped	Pair Corr
0.59	ZWU	BMO Covered Call	Pair Corr
0.59	HBU	BetaPro Gold Bullion	Pair Corr
0.53	ZGD	BMO Equal Weight	Pair Corr
0.53	ZJG	BMO Junior Gold	Pair Corr
0.53	XGD	iShares SPTSX Global	Pair Corr
0.48	HGU	BetaPro Canadian Gold	Pair Corr
0.45	SVR	iShares Silver Bullion	Pair Corr
0.45	SBT	Silver Bullion Trust	Pair Corr
0.44	HUZ	Global X Silver	Pair Corr
0.41	CWW	iShares Global Water	Pair Corr
0.4	MNS	Royal Canadian Mint	Pair Corr
0.33	HZU	BetaPro Silver 2x	Pair Corr

Related Correlations Analysis

	TUED	QQCC	XSUS	VDU	XSU	ENCC	VCNS	FCCV	RPF	ESG
TUED		0.79	0.77	0.55	0.55	0.29	0.73	0.36	0.32	0.56	TUED
QQCC	0.79		0.95	0.28	0.4	-0.2	0.66	0.25	0.25	0.72	QQCC
XSUS	0.77	0.95		0.22	0.32	-0.28	0.69	0.16	0.18	0.82	XSUS
VDU	0.55	0.28	0.22		0.9	0.52	0.3	0.87	0.88	-0.12	VDU
XSU	0.55	0.4	0.32	0.9		0.38	0.41	0.93	0.9	0.02	XSU
ENCC	0.29	-0.2	-0.28	0.52	0.38		0.11	0.41	0.3	-0.26	ENCC
VCNS	0.73	0.66	0.69	0.3	0.41	0.11		0.28	0.15	0.77	VCNS
FCCV	0.36	0.25	0.16	0.87	0.93	0.41	0.28		0.91	-0.11	FCCV
RPF	0.32	0.25	0.18	0.88	0.9	0.3	0.15	0.91		-0.16	RPF
ESG	0.56	0.72	0.82	-0.12	0.02	-0.26	0.77	-0.11	-0.16		ESG
	TUED	QQCC	XSUS	VDU	XSU	ENCC	VCNS	FCCV	RPF	ESG

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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

XSUS	+ 0.95	QQCC
FCCV	+ 0.93	XSU
RPF	+ 0.91	FCCV
XSU	+ 0.9	VDU
RPF	+ 0.9	XSU
RPF	+ 0.88	VDU

High negative correlations

ENCC	- 0.28	XSUS
ESG	- 0.26	ENCC
ENCC	- 0.2	QQCC
ESG	- 0.16	RPF
ESG	- 0.12	VDU
ESG	- 0.11	FCCV

Evolve Cloud Constituents Risk-Adjusted Indicators

There is a big difference between Evolve Etf performing well and Evolve Cloud 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 Cloud'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
TUED	0.82	(0.05)	(0.08)	0.01	1.06	(0.81)	1.71	(1.92)	5.09
QQCC	0.68	(0.10)	0.00	(0.10)	0.00	0.00	1.33	(1.40)	4.35
XSUS	0.59	(0.08)	0.00	(0.08)	0.00	0.00	1.22	(1.32)	3.45
VDU	0.57	0.09	0.06	0.29	0.55	(0.61)	1.27	(1.13)	2.81
XSU	0.93	0.07	0.03	0.22	1.04	(0.93)	2.09	(1.89)	4.64
ENCC	0.74	0.16	0.06	(1.87)	0.92	(0.82)	1.36	(1.57)	4.96
VCNS	0.28	(0.03)	(0.20)	(0.02)	0.45	(0.26)	0.53	(0.75)	2.07
FCCV	0.72	0.17	0.10	0.47	0.83	(0.77)	1.93	(1.50)	6.24
RPF	0.21	0.04	(0.12)	0.58	0.18	(0.22)	0.46	(0.60)	1.28
ESG	0.59	(0.07)	0.00	(0.05)	0.00	0.00	1.12	(1.18)	3.53

Be your own money manager

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