Dynamic Active Correlations

DXP Etf

CAD 25.86 0.09 0.35%

The current 90-days correlation between Dynamic Active Preferred and BMO Laddered Preferred is -0.06 (i.e., Good 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 Preferred moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Dynamic Active Correlation With Market

Weak diversification

The correlation between Dynamic Active Preferred and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dynamic Active Preferred 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 Preferred to buy it.

Moving together with Dynamic Etf

0.91	ZPR	BMO Laddered Preferred	Pair Corr
0.96	HPR	Global X Active	Pair Corr
0.94	CPD	iShares SPTSX Canadian	Pair Corr
0.9	RPF	RBC Canadian Preferred	Pair Corr
0.96	DIVS	Evolve Active Canadian	Pair Corr
0.9	PR	Lysander Slater Pref	Pair Corr
0.93	HFP	Global X Active	Pair Corr
0.91	FPR	CI Preferred Share	Pair Corr
0.71	XCV	iShares Canadian Value	Pair Corr
0.77	VEQT	Vanguard All Equity	Pair Corr
0.75	EBNK	Evolve European Banks	Pair Corr
0.77	LYFR	Lysander Canso Floating	Pair Corr
0.78	BLCK	First Trust Indxx	Pair Corr
0.62	ZLB	BMO Low Volatility	Pair Corr
0.8	CIC	CI Canadian Banks	Pair Corr
0.66	FLCD	Franklin FTSE Canada	Pair Corr
0.65	BGU	Bristol Gate Concentrated	Pair Corr
0.62	ZIN	BMO SPTSX Equal	Pair Corr
0.94	HLPR	Global X Laddered	Pair Corr
0.68	HXU	BetaPro SP TSX	Pair Corr
0.77	HFU	BetaPro SPTSX Capped	Pair Corr
0.83	FCUV	Fidelity Value ETF	Pair Corr
0.78	TOCA	TD One Click	Pair Corr
0.69	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.86	USCC-U	Global X SP	Pair Corr
0.74	FHM	First Trust NYSE	Pair Corr

Moving against Dynamic Etf

0.75	HIU	BetaPro SP 500	Pair Corr
0.74	HQD	BetaPro NASDAQ 100	Pair Corr
0.71	HXD	BetaPro SPTSX 60	Pair Corr
0.62	HUC	Global X Crude	Pair Corr
0.5	HOU	BetaPro Crude Oil	Pair Corr
0.4	HBLK	Blockchain Technologies	Pair Corr
0.33	HED	BetaPro SPTSX Capped	Pair Corr

Related Correlations Analysis

	ZPR	CPD	RPF	DXP	DIVS	XPF	PR	HFP	FPR
ZPR		0.97	0.99	0.91	0.94	0.61	0.91	0.93	0.89	ZPR
CPD	0.97		0.96	0.94	0.94	0.58	0.95	0.91	0.87	CPD
RPF	0.99	0.96		0.9	0.93	0.58	0.9	0.93	0.89	RPF
DXP	0.91	0.94	0.9		0.96	0.54	0.9	0.93	0.91	DXP
DIVS	0.94	0.94	0.93	0.96		0.51	0.9	0.92	0.9	DIVS
XPF	0.61	0.58	0.58	0.54	0.51		0.54	0.53	0.46	XPF
PR	0.91	0.95	0.9	0.9	0.9	0.54		0.86	0.81	PR
HFP	0.93	0.91	0.93	0.93	0.92	0.53	0.86		0.92	HFP
FPR	0.89	0.87	0.89	0.91	0.9	0.46	0.81	0.92		FPR
	ZPR	CPD	RPF	DXP	DIVS	XPF	PR	HFP	FPR

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
ZPR	0.25	0.07	0.02	2.03	0.24	(0.28)	0.50	(0.67)	1.35
CPD	0.24	0.05	(0.02)	0.86	0.33	(0.25)	0.44	(0.67)	1.63
RPF	0.23	0.06	0.01	1.42	0.15	(0.25)	0.47	(0.51)	1.31
DXP	0.23	0.04	(0.03)	0.29	0.15	(0.26)	0.47	(0.47)	1.51
DIVS	0.27	0.05	0.00	0.49	0.14	(0.30)	0.76	(0.57)	1.87
XPF	0.24	0.00	(0.14)	0.07	0.27	(0.25)	0.39	(0.51)	1.48
PR	0.21	0.03	(0.11)	0.56	0.07	(0.29)	0.49	(0.39)	1.18
HFP	0.20	0.04	(0.05)	0.38	0.00	(0.34)	0.57	(0.38)	1.71
FPR	0.36	0.05	(0.02)	(0.79)	0.46	(0.38)	1.06	(0.77)	3.33

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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