Dynamic Active Correlations

DXN Etf

CAD 26.67 0.05 0.19%

The current 90-days correlation between Dynamic Active Global and Hamilton Enhanced Multi Sector 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 Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dynamic Active Correlation With Market

Very weak diversification

The correlation between Dynamic Active Global and DJI is 0.54 (i.e., Very weak 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

0.99	RIIN	Russell Investments	Pair Corr
0.99	CINF	CI Global Infrastructure	Pair Corr
0.98	ZGI	BMO Global Infrastructure	Pair Corr
0.99	TINF	TD Active Global	Pair Corr
0.96	CIF	iShares Global Infra	Pair Corr
0.98	NREA	NBI Global Real	Pair Corr
0.94	BREA	Brompton Sustainable Real	Pair Corr
0.97	QINF	Mackenzie Global Inf	Pair Corr
0.86	FHE	First Trust Indxx	Pair Corr
0.94	XEG	iShares SPTSX Capped	Pair Corr
0.68	HXU	BetaPro SP TSX	Pair Corr
0.79	WSRD	Wealthsimple Developed	Pair Corr
0.75	VCN	Vanguard FTSE Canada	Pair Corr
0.83	XMM	iShares MSCI Min	Pair Corr
0.76	PXS	Invesco RAFI Index	Pair Corr
0.88	PSB	Invesco 1 5	Pair Corr
0.86	UMI	CI MidCap Dividend	Pair Corr
0.94	HXH	Global X Canadian	Pair Corr
0.73	XSMH	iShares SP Small	Pair Corr
0.77	GBUL	Ninepoint Gold Bullion	Pair Corr
0.89	CORE	PIMCO Canadian Core	Pair Corr
0.69	PINV	Purpose Global Innovators	Pair Corr
0.93	CLF	iShares 1 5	Pair Corr
0.94	VSB	Vanguard Canadian Short	Pair Corr
0.87	PDIV	Purpose Enhanced Dividend	Pair Corr

Moving against Dynamic Etf

0.78	CBCX	CI Galaxy Blockchain	Pair Corr
0.72	HBLK	Blockchain Technologies	Pair Corr

Related Correlations Analysis

	PDC	XHY	WSRD	UMAX	VEF	WSRI	DXG	QAH	VGH	HDIV
PDC		0.63	0.68	0.92	0.79	0.63	0.63	-0.11	0.68	0.72	PDC
XHY	0.63		0.87	0.68	0.93	0.81	0.77	0.48	0.87	0.89	XHY
WSRD	0.68	0.87		0.74	0.93	0.9	0.85	0.38	0.83	0.91	WSRD
UMAX	0.92	0.68	0.74		0.83	0.71	0.72	-0.08	0.72	0.73	UMAX
VEF	0.79	0.93	0.93	0.83		0.86	0.82	0.32	0.88	0.95	VEF
WSRI	0.63	0.81	0.9	0.71	0.86		0.87	0.27	0.82	0.86	WSRI
DXG	0.63	0.77	0.85	0.72	0.82	0.87		0.38	0.81	0.83	DXG
QAH	-0.11	0.48	0.38	-0.08	0.32	0.27	0.38		0.48	0.43	QAH
VGH	0.68	0.87	0.83	0.72	0.88	0.82	0.81	0.48		0.82	VGH
HDIV	0.72	0.89	0.91	0.73	0.95	0.86	0.83	0.43	0.82		HDIV
	PDC	XHY	WSRD	UMAX	VEF	WSRI	DXG	QAH	VGH	HDIV

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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

HDIV	+ 0.95	VEF
VEF	+ 0.93	XHY
VEF	+ 0.93	WSRD
UMAX	+ 0.92	PDC
HDIV	+ 0.91	WSRD
WSRI	+ 0.9	WSRD

High negative correlations

QAH	- 0.11	PDC
QAH	- 0.08	UMAX

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
PDC	0.41	0.12	0.07	0.69	0.59	(0.43)	0.90	(0.71)	3.96
XHY	0.17	0.00	(0.30)	0.13	0.12	(0.21)	0.43	(0.30)	0.91
WSRD	0.47	0.04	(0.01)	0.18	0.38	(0.57)	1.19	(0.78)	2.97
UMAX	0.35	0.10	0.04	(1.48)	0.17	(0.41)	0.71	(0.63)	1.64
VEF	0.45	0.17	0.18	0.39	0.22	(0.50)	1.13	(0.74)	3.24
WSRI	0.48	0.05	(0.01)	0.21	0.38	(0.55)	1.09	(0.72)	2.69
DXG	0.78	0.01	(0.01)	0.09	0.80	(0.88)	1.69	(1.47)	4.75
QAH	0.47	(0.03)	(0.09)	0.03	0.58	(0.50)	1.01	(1.18)	3.05
VGH	0.49	0.01	(0.02)	0.10	0.55	(0.49)	1.02	(1.02)	3.36
HDIV	0.57	0.11	0.08	0.28	0.70	(0.63)	1.37	(0.99)	4.10

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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