Dynamic Active Correlations

DXC Etf

CAD 45.06 0.03 0.07%

The current 90-days correlation between Dynamic Active Canadian and Brompton Enhanced Multi Asset is 0.62 (i.e., Poor 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 Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dynamic Active Correlation With Market

Almost no diversification

The correlation between Dynamic Active Canadian and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Active Canadian 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 Canadian to buy it.

Moving together with Dynamic Etf

0.95	ZWC	BMO Canadian High	Pair Corr
0.78	XDV	iShares Canadian Select	Pair Corr
0.62	PDC	Invesco Canadian Dividend	Pair Corr
0.76	XEI	iShares SPTSX Composite	Pair Corr
0.92	VDY	Vanguard FTSE Canadian	Pair Corr
0.93	DGRC	CI Canada Quality	Pair Corr
0.86	HXH	Global X Canadian	Pair Corr
0.91	HCAL	Hamilton Enhanced	Pair Corr
0.75	HBGD	Global X Big	Pair Corr
0.67	HBGD-U	Global X Big	Pair Corr
0.97	EQL-U	Invesco SP 500	Pair Corr
0.88	AMAX	Hamilton Gold Producer	Pair Corr
0.9	DXBG	Dynamic Global Fixed	Pair Corr
0.95	HXU	BetaPro SP TSX	Pair Corr
0.91	HXX	Global X Europe	Pair Corr
0.81	ZUD	BMO Dividend Hedged	Pair Corr
0.79	WSHR	Wealthsimple Shariah	Pair Corr
0.64	NXF	First Asset Energy	Pair Corr
0.88	MINT-B	Manulife Multifactor	Pair Corr
0.91	ATSX	Accelerate Canadian Long	Pair Corr
0.75	TERM	Manulife Smart Short	Pair Corr
0.95	XEN	iShares Jantzi Social	Pair Corr
0.61	XEG	iShares SPTSX Capped	Pair Corr
0.69	HPF	Harvest Energy Leaders	Pair Corr
0.89	UDIV	Manulife Smart Dividend	Pair Corr
0.68	CTMB	CI Target 2029	Pair Corr

Moving against Dynamic Etf

0.37

GDPY-B

Guardian Directed Premium

Pair Corr

Related Correlations Analysis

	PDIV	NXF	XDGH	CNCC	BDIV	RMAX	ETHI	BMAX
PDIV		0.74	0.9	0.89	0.89	0.79	0.47	0.95	PDIV
NXF	0.74		0.88	0.45	0.72	0.69	-0.06	0.72	NXF
XDGH	0.9	0.88		0.74	0.87	0.79	0.26	0.91	XDGH
CNCC	0.89	0.45	0.74		0.8	0.63	0.7	0.89	CNCC
BDIV	0.89	0.72	0.87	0.8		0.74	0.46	0.93	BDIV
RMAX	0.79	0.69	0.79	0.63	0.74		0.16	0.75	RMAX
ETHI	0.47	-0.06	0.26	0.7	0.46	0.16		0.57	ETHI
BMAX	0.95	0.72	0.91	0.89	0.93	0.75	0.57		BMAX
	PDIV	NXF	XDGH	CNCC	BDIV	RMAX	ETHI	BMAX

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

BMAX	+ 0.95	PDIV
BMAX	+ 0.93	BDIV
BMAX	+ 0.91	XDGH
XDGH	+ 0.9	PDIV
CNCC	+ 0.89	PDIV
BDIV	+ 0.89	PDIV

High negative correlations

ETHI

- 0.06

NXF

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
PDIV	0.32	0.03	(0.02)	0.17	0.43	(0.34)	0.65	(0.83)	3.21
NXF	1.00	0.20	0.11	(1.79)	0.97	(1.14)	2.22	(1.67)	4.44
XDGH	0.48	0.13	0.15	0.60	0.23	(0.54)	1.15	(0.80)	3.03
CNCC	0.46	0.05	0.01	0.19	0.72	(0.47)	1.15	(1.13)	3.96
BDIV	0.51	0.02	(0.01)	0.10	0.61	(0.55)	1.18	(1.26)	3.23
RMAX	0.50	0.01	(0.06)	0.09	0.69	(0.50)	1.08	(1.06)	3.39
ETHI	0.66	(0.06)	0.00	(0.03)	0.00	0.00	1.31	(1.50)	3.67
BMAX	0.51	0.04	0.01	0.13	0.57	(0.56)	1.00	(1.12)	3.23

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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