Dynamic Active Correlations

DXW Etf

CAD 25.71 0.05 0.19%

The current 90-days correlation between Dynamic Active Inter and Global X Enhanced is 0.19 (i.e., Average 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 International 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 International and DJI is 0.48 (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 International 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 International to buy it.

Moving together with Dynamic Etf

0.7	XEF	iShares Core MSCI	Pair Corr
0.71	ZEA	BMO MSCI EAFE	Pair Corr
0.67	VIU	Vanguard FTSE Developed	Pair Corr
0.72	WSRD	Wealthsimple Developed	Pair Corr
0.62	VDU	Vanguard FTSE Developed	Pair Corr

Moving against Dynamic Etf

0.32	DOLY	Purpose Dollarama Yield	Pair Corr
0.31	FGLS	Fidelity Global Value	Pair Corr

Related Correlations Analysis

	EQCL	UDA	CGRE	HCRE	ZIN	PMM	ZUP	ZXM	TGGR
EQCL		0.59	0.05	-0.42	0.54	0.68	-0.55	0.76	0.88	EQCL
UDA	0.59		0.14	-0.52	0.1	0.7	-0.16	0.47	0.63	UDA
CGRE	0.05	0.14		0.48	-0.16	0.19	0.51	-0.34	0.22	CGRE
HCRE	-0.42	-0.52	0.48		0.0	-0.52	0.59	-0.68	-0.28	HCRE
ZIN	0.54	0.1	-0.16	0.0		0.13	-0.43	0.41	0.55	ZIN
PMM	0.68	0.7	0.19	-0.52	0.13		-0.31	0.52	0.72	PMM
ZUP	-0.55	-0.16	0.51	0.59	-0.43	-0.31		-0.87	-0.28	ZUP
ZXM	0.76	0.47	-0.34	-0.68	0.41	0.52	-0.87		0.56	ZXM
TGGR	0.88	0.63	0.22	-0.28	0.55	0.72	-0.28	0.56		TGGR
	EQCL	UDA	CGRE	HCRE	ZIN	PMM	ZUP	ZXM	TGGR

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

TGGR	+ 0.88	EQCL
ZXM	+ 0.76	EQCL
TGGR	+ 0.72	PMM
PMM	+ 0.7	UDA
PMM	+ 0.68	EQCL
TGGR	+ 0.63	UDA

High negative correlations

ZXM	- 0.87	ZUP
ZXM	- 0.68	HCRE
ZUP	- 0.55	EQCL
PMM	- 0.52	HCRE
HCRE	- 0.52	UDA
ZUP	- 0.43	ZIN

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
EQCL	0.53	0.04	0.01	0.17	0.72	(0.51)	1.18	(1.06)	3.35
UDA	0.80	0.03	(0.02)	0.21	1.05	(0.80)	1.80	(1.85)	5.83
CGRE	0.39	(0.05)	0.00	(0.11)	0.00	0.00	0.85	(1.03)	6.66
HCRE	0.52	(0.05)	0.00	(0.22)	0.00	0.00	0.92	(1.23)	2.75
ZIN	0.70	0.09	0.03	(2.43)	0.88	(0.71)	1.65	(1.58)	5.00
PMM	0.52	0.02	(0.04)	0.20	0.81	(0.47)	0.83	(1.11)	3.93
ZUP	0.33	(0.09)	0.00	(3.20)	0.00	0.00	0.63	(0.69)	1.69
ZXM	0.41	0.11	0.11	4.07	0.13	(0.52)	1.00	(0.59)	2.68
TGGR	0.58	0.02	(0.02)	0.10	0.73	(0.54)	1.18	(1.14)	2.86

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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