Dynamic Active Correlations

DXO Etf

CAD 19.82 0.05 0.25%

The current 90-days correlation between Dynamic Active Crossover and Purpose Multi Asset Income is 0.24 (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 Crossover moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dynamic Active Correlation With Market

Poor diversification

The correlation between Dynamic Active Crossover and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Active Crossover 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 Crossover to buy it.

Moving together with Dynamic Etf

0.8	NHYB	NBI High Yield	Pair Corr
0.82	ZHY	BMO High Yield	Pair Corr
0.66	QHY	Mackenzie High Yield	Pair Corr
0.75	TUHY	TD Active High	Pair Corr
0.74	HGU	BetaPro Canadian Gold	Pair Corr
0.82	HGGG	Harvest Global Gold	Pair Corr
0.82	ZGD	BMO Equal Weight	Pair Corr
0.82	GLDX	Global X Gold	Pair Corr
0.83	ZJG	BMO Junior Gold	Pair Corr
0.79	HBU	BetaPro Gold Bullion	Pair Corr
0.69	HUZ	Global X Silver	Pair Corr
0.7	SVR	iShares Silver Bullion	Pair Corr
0.83	XGD	iShares SPTSX Global	Pair Corr
0.89	DXBG	Dynamic Global Fixed	Pair Corr
0.74	CALL	Evolve Banks Enhanced	Pair Corr
0.74	DXAU	Dynamic Active Global	Pair Corr
0.69	CPD	iShares SPTSX Canadian	Pair Corr
0.61	BANK	Evolve Canadian Banks	Pair Corr
0.9	WSHR	Wealthsimple Shariah	Pair Corr
0.84	XDUH	iShares Core MSCI	Pair Corr
0.89	CTMB	CI Target 2029	Pair Corr
0.8	ATSX	Accelerate Canadian Long	Pair Corr
0.89	BMAX	Brompton Enhanced Multi	Pair Corr
0.84	ZUD	BMO Dividend Hedged	Pair Corr
0.87	DGRC	CI Canada Quality	Pair Corr
0.89	XEU	iShares MSCI Europe	Pair Corr
0.94	GDV	Global Dividend Growth	Pair Corr
0.87	HAC	Global X Seasonal	Pair Corr
0.68	ZWU	BMO Covered Call	Pair Corr
0.93	EIT-UN	Canoe EIT Income	Pair Corr
0.8	RAAA	Corton Enhanced Income	Pair Corr
0.83	XSTB	iShares ESG Aware	Pair Corr
0.79	AMAX	Hamilton Gold Producer	Pair Corr

Moving against Dynamic Etf

0.36

ZJK

BMO High Yield

Pair Corr

Related Correlations Analysis

	PCON	PMIF	QQQY	ZSML	FHI	TLV	HXF	DXB	PINC
PCON		0.78	0.05	0.68	0.69	0.79	0.66	0.15	0.79	PCON
PMIF	0.78		0.2	0.83	0.79	0.93	0.83	0.24	0.92	PMIF
QQQY	0.05	0.2		0.27	0.09	0.01	0.41	-0.41	0.04	QQQY
ZSML	0.68	0.83	0.27		0.71	0.84	0.76	0.17	0.84	ZSML
FHI	0.69	0.79	0.09	0.71		0.82	0.67	0.34	0.69	FHI
TLV	0.79	0.93	0.01	0.84	0.82		0.83	0.21	0.92	TLV
HXF	0.66	0.83	0.41	0.76	0.67	0.83		-0.25	0.72	HXF
DXB	0.15	0.24	-0.41	0.17	0.34	0.21	-0.25		0.3	DXB
PINC	0.79	0.92	0.04	0.84	0.69	0.92	0.72	0.3		PINC
	PCON	PMIF	QQQY	ZSML	FHI	TLV	HXF	DXB	PINC

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

TLV	+ 0.93	PMIF
PINC	+ 0.92	PMIF
PINC	+ 0.92	TLV
TLV	+ 0.84	ZSML
PINC	+ 0.84	ZSML
ZSML	+ 0.83	PMIF

High negative correlations

DXB	- 0.41	QQQY
DXB	- 0.25	HXF

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
PCON	0.17	0.01	(0.22)	(0.13)	0.13	(0.24)	0.45	(0.34)	1.12
PMIF	0.12	0.02	(0.20)	0.46	0.00	(0.14)	0.22	(0.27)	0.71
QQQY	0.97	(0.10)	0.00	(0.07)	0.00	0.00	1.65	(2.55)	6.87
ZSML	0.89	0.04	0.03	0.12	0.86	(1.14)	2.12	(1.62)	6.52
FHI	0.61	0.11	0.10	0.57	0.44	(0.80)	1.56	(0.90)	5.29
TLV	0.31	0.11	0.14	0.79	0.00	(0.36)	1.03	(0.65)	2.73
HXF	0.52	0.09	0.07	0.31	0.50	(0.60)	1.24	(0.93)	3.47
DXB	0.16	0.00	(0.21)	0.02	0.19	(0.21)	0.34	(0.33)	1.28
PINC	0.30	0.06	0.01	0.66	0.26	(0.33)	0.69	(0.46)	1.61

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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