Dynamic Active Correlations

DXF Etf

CAD 53.26 0.42 0.78%

The current 90-days correlation between Dynamic Active Global and Brompton North American is 0.05 (i.e., Significant 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 0.22 (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

0.61	ZEB	BMO SPTSX Equal	Pair Corr
0.61	XFN	iShares SPTSX Capped	Pair Corr
0.8	ZBK	BMO Equal Weight	Pair Corr
0.66	HCA	Hamilton Canadian Bank	Pair Corr
0.82	ZUB	BMO Equal Weight	Pair Corr
0.8	FSF	CI Global Financial	Pair Corr
0.75	ZWK	BMO Covered Call	Pair Corr
0.71	FLI	CI Canada Lifeco	Pair Corr
0.77	HGU	BetaPro Canadian Gold	Pair Corr
0.75	HZU	BetaPro Silver 2x	Pair Corr
0.81	ZGD	BMO Equal Weight	Pair Corr
0.68	QCE	Mackenzie Canadian Large	Pair Corr
0.7	FLCD	Franklin FTSE Canada	Pair Corr
0.77	HXU	BetaPro SP TSX	Pair Corr
0.68	PXC	Invesco RAFI Canadian	Pair Corr
0.85	NDIV	NBI Canadian Dividend	Pair Corr

Moving against Dynamic Etf

0.35	CBCX	CI Galaxy Blockchain	Pair Corr
0.45	NVHE	Harvest NVIDIA Enhanced	Pair Corr

Related Correlations Analysis

	BLOV	CNCL	RPDH	BGC	PBD	PHR	ZWQT	FCUH	GDXD	CNDI
BLOV		0.73	0.71	0.05	-0.08	-0.63	0.76	0.06	-0.78	-0.68	BLOV
CNCL	0.73		0.91	0.39	-0.13	-0.57	0.92	0.13	-0.91	-0.94	CNCL
RPDH	0.71	0.91		0.27	-0.13	-0.6	0.9	0.14	-0.87	-0.91	RPDH
BGC	0.05	0.39	0.27		0.21	0.12	0.25	-0.05	-0.32	-0.48	BGC
PBD	-0.08	-0.13	-0.13	0.21		0.54	-0.02	0.44	0.27	0.03	PBD
PHR	-0.63	-0.57	-0.6	0.12	0.54		-0.56	0.08	0.67	0.46	PHR
ZWQT	0.76	0.92	0.9	0.25	-0.02	-0.56		0.22	-0.82	-0.85	ZWQT
FCUH	0.06	0.13	0.14	-0.05	0.44	0.08	0.22		0.04	-0.16	FCUH
GDXD	-0.78	-0.91	-0.87	-0.32	0.27	0.67	-0.82	0.04		0.87	GDXD
CNDI	-0.68	-0.94	-0.91	-0.48	0.03	0.46	-0.85	-0.16	0.87		CNDI
	BLOV	CNCL	RPDH	BGC	PBD	PHR	ZWQT	FCUH	GDXD	CNDI

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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

ZWQT	+ 0.92	CNCL
RPDH	+ 0.91	CNCL
ZWQT	+ 0.9	RPDH
CNDI	+ 0.87	GDXD
ZWQT	+ 0.76	BLOV
CNCL	+ 0.73	BLOV

High negative correlations

CNDI	- 0.94	CNCL
CNDI	- 0.91	RPDH
GDXD	- 0.91	CNCL
GDXD	- 0.87	RPDH
CNDI	- 0.85	ZWQT
GDXD	- 0.82	ZWQT

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
BLOV	0.34	0.02	(0.05)	0.18	0.44	(0.37)	0.66	(0.81)	2.51
CNCL	0.56	0.06	0.03	0.20	0.60	(0.63)	1.20	(1.19)	2.74
RPDH	0.44	0.13	0.13	0.76	0.18	(0.56)	1.37	(0.62)	3.60
BGC	0.59	0.03	(0.01)	0.13	0.73	(0.66)	1.70	(1.30)	4.02
PBD	0.19	(0.01)	0.00	0.53	0.00	0.00	0.42	(0.36)	1.21
PHR	0.46	(0.03)	0.00	(0.16)	0.00	0.00	0.83	(0.96)	3.24
ZWQT	0.39	0.02	(0.02)	0.11	0.38	(0.51)	0.90	(0.61)	2.70
FCUH	0.48	(0.05)	0.00	(0.10)	0.00	0.00	0.93	(1.07)	3.67
GDXD	3.74	(0.51)	0.00	0.47	0.00	0.00	8.13	(8.80)	32.98
CNDI	0.62	(0.08)	0.00	0.25	0.00	0.00	1.41	(1.22)	3.14

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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