Dynamic Active Correlations

DXMO Etf

35.25 0.32 0.92%

The current 90-days correlation between Dynamic Active Mining and iShares 1 10Yr Laddered is 0.09 (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 Mining 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 Mining and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Active Mining 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 Mining to buy it.

Moving together with Dynamic Etf

0.74	XIU	iShares SPTSX 60	Pair Corr
0.77	XIC	iShares Core SPTSX	Pair Corr
0.77	ZCN	BMO SPTSX Capped	Pair Corr
0.61	CALL	Evolve Banks Enhanced	Pair Corr
0.61	EIT-UN	Canoe EIT Income	Pair Corr
0.73	FLCD	Franklin FTSE Canada	Pair Corr

Moving against Dynamic Etf

0.51	TCLB	TD Canadian Long	Pair Corr
0.45	CGRA	CI Global Real	Pair Corr
0.41	MFT	Mackenzie Floating Rate	Pair Corr
0.4	ZAG	BMO Aggregate Bond	Pair Corr
0.39	XBB	iShares Canadian Universe	Pair Corr
0.41	NVHE	Harvest NVIDIA Enhanced	Pair Corr

Related Correlations Analysis

	CLG	CBO	ZMP	DXG	ZFM	RQP	IGB	XLB	XFR
CLG		0.8	0.99	0.2	0.88	-0.07	0.16	0.93	-0.52	CLG
CBO	0.8		0.8	0.3	0.58	0.25	0.14	0.79	-0.07	CBO
ZMP	0.99	0.8		0.24	0.89	-0.07	0.15	0.95	-0.54	ZMP
DXG	0.2	0.3	0.24		0.11	0.41	0.03	0.38	0.01	DXG
ZFM	0.88	0.58	0.89	0.11		-0.17	0.17	0.84	-0.66	ZFM
RQP	-0.07	0.25	-0.07	0.41	-0.17		-0.24	0.01	0.64	RQP
IGB	0.16	0.14	0.15	0.03	0.17	-0.24		-0.01	-0.16	IGB
XLB	0.93	0.79	0.95	0.38	0.84	0.01	-0.01		-0.48	XLB
XFR	-0.52	-0.07	-0.54	0.01	-0.66	0.64	-0.16	-0.48		XFR
	CLG	CBO	ZMP	DXG	ZFM	RQP	IGB	XLB	XFR

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

ZMP	+ 0.99	CLG
XLB	+ 0.95	ZMP
XLB	+ 0.93	CLG
ZFM	+ 0.89	ZMP
ZFM	+ 0.88	CLG
XLB	+ 0.84	ZFM

High negative correlations

XFR	- 0.66	ZFM
XFR	- 0.54	ZMP
XFR	- 0.52	CLG
XFR	- 0.48	XLB
IGB	- 0.24	RQP
RQP	- 0.17	ZFM

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
CLG	0.12	(0.01)	(0.31)	(0.14)	0.20	(0.12)	0.17	(0.28)	0.91
CBO	0.10	0.00	(0.46)	(1.02)	0.11	(0.11)	0.22	(0.16)	0.70
ZMP	0.17	(0.01)	0.00	(0.23)	0.00	0.00	0.28	(0.35)	1.47
DXG	0.80	(0.03)	(0.05)	0.03	1.03	(0.80)	1.52	(1.68)	4.67
ZFM	0.19	(0.02)	0.00	(0.23)	0.00	0.00	0.27	(0.47)	1.41
RQP	0.06	(0.01)	(0.59)	(0.43)	0.05	(0.07)	0.11	(0.11)	0.33
IGB	0.10	(0.02)	0.00	(0.17)	0.00	0.00	0.22	(0.16)	0.49
XLB	0.33	(0.03)	0.00	(0.10)	0.00	0.00	0.57	(0.64)	2.16
XFR	0.04	0.00	(1.25)	0.00	0.00	(0.06)	0.10	(0.05)	0.20

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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