Dynamic Active Correlations

DXAU Etf

57.00 2.27 4.15%

The current 90-days correlation between Dynamic Active Global and Hamilton Energy YIELD is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Dynamic Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dynamic Active Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dynamic Active Correlation With Market

Modest diversification

The correlation between Dynamic Active Global 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 Dynamic Active Global and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dynamic Etf

0.97	XGD	iShares SPTSX Global	Pair Corr
0.98	ZGD	BMO Equal Weight	Pair Corr
0.97	ZJG	BMO Junior Gold	Pair Corr
0.86	HEP	Global X Enhanced	Pair Corr
0.98	HGGG	Harvest Global Gold	Pair Corr
0.62	LYFR	Lysander Canso Floating	Pair Corr
0.78	TCLV	TD Q Canadian	Pair Corr
0.89	XIC	iShares Core SPTSX	Pair Corr
0.79	HFU	BetaPro SPTSX Capped	Pair Corr
0.78	XCV	iShares Canadian Value	Pair Corr
0.7	NDIV	NBI Canadian Dividend	Pair Corr
0.77	VVL	Vanguard Global Value	Pair Corr
0.61	ZLB	BMO Low Volatility	Pair Corr
0.64	HLPR	Global X Laddered	Pair Corr
0.83	FLCD	Franklin FTSE Canada	Pair Corr
0.78	FCMI	Fidelity Canadian Monthly	Pair Corr
0.62	RQO	RBC Target 2026	Pair Corr
0.83	QCE	Mackenzie Canadian Large	Pair Corr
0.64	ZMMK	BMO Money Market	Pair Corr
0.83	PXC	Invesco RAFI Canadian	Pair Corr

Moving against Dynamic Etf

0.8	HXD	BetaPro SPTSX 60	Pair Corr
0.69	HUC	Global X Crude	Pair Corr
0.62	HOU	BetaPro Crude Oil	Pair Corr
0.47	HBLK	Blockchain Technologies	Pair Corr
0.47	NVHE	Harvest NVIDIA Enhanced	Pair Corr
0.46	HED	BetaPro SPTSX Capped	Pair Corr

Related Correlations Analysis

	EMAX	XMV	HSH	QBTL	RBNK	XST	FMAX	ZWK	QQCL	LMAX
EMAX		0.46	0.31	-0.32	0.44	0.48	0.09	0.39	0.35	0.56	EMAX
XMV	0.46		0.44	-0.53	0.88	0.9	0.57	0.77	0.14	0.69	XMV
HSH	0.31	0.44		-0.74	0.59	0.33	0.37	0.49	0.69	0.44	HSH
QBTL	-0.32	-0.53	-0.74		-0.78	-0.43	-0.47	-0.63	-0.68	-0.42	QBTL
RBNK	0.44	0.88	0.59	-0.78		0.78	0.63	0.87	0.35	0.61	RBNK
XST	0.48	0.9	0.33	-0.43	0.78		0.34	0.6	0.17	0.78	XST
FMAX	0.09	0.57	0.37	-0.47	0.63	0.34		0.78	0.0	0.01	FMAX
ZWK	0.39	0.77	0.49	-0.63	0.87	0.6	0.78		0.07	0.28	ZWK
QQCL	0.35	0.14	0.69	-0.68	0.35	0.17	0.0	0.07		0.5	QQCL
LMAX	0.56	0.69	0.44	-0.42	0.61	0.78	0.01	0.28	0.5		LMAX
	EMAX	XMV	HSH	QBTL	RBNK	XST	FMAX	ZWK	QQCL	LMAX

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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

XST	+ 0.9	XMV
RBNK	+ 0.88	XMV
ZWK	+ 0.87	RBNK
XST	+ 0.78	RBNK
LMAX	+ 0.78	XST
ZWK	+ 0.78	FMAX

High negative correlations

RBNK	- 0.78	QBTL
QBTL	- 0.74	HSH
QQCL	- 0.68	QBTL
ZWK	- 0.63	QBTL
QBTL	- 0.53	XMV
FMAX	- 0.47	QBTL

Dynamic Active Constituents Risk-Adjusted Indicators

There is a big difference between Dynamic Etf performing well and Dynamic Active 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 Dynamic Active'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
EMAX	0.91	0.02	(0.02)	0.18	1.40	(0.79)	1.68	(1.60)	5.84
XMV	0.42	0.05	0.01	0.36	0.40	(0.50)	1.05	(0.71)	3.15
HSH	0.62	0.01	(0.02)	0.09	0.82	(0.60)	1.09	(1.34)	3.58
QBTL	1.05	(0.08)	0.00	0.23	0.00	0.00	2.50	(2.15)	9.56
RBNK	0.51	0.14	0.14	0.41	0.43	(0.58)	1.25	(1.04)	2.88
XST	0.70	0.13	0.05	(0.36)	0.84	(0.74)	1.85	(1.40)	5.58
FMAX	0.60	0.00	(0.03)	0.06	0.83	(0.65)	1.23	(1.21)	5.61
ZWK	0.81	0.08	0.03	0.21	1.12	(0.85)	1.96	(1.52)	7.86
QQCL	0.76	0.03	0.01	0.12	1.05	(0.79)	1.62	(1.71)	4.85
LMAX	0.64	0.12	0.08	0.38	0.68	(0.66)	1.84	(1.16)	4.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in Dynamic Active 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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