Hamilton Energy Correlations

EMAX Etf

15.14 0.13 0.85%

The current 90-days correlation between Hamilton Energy YIELD and iShares SPTSX Capped is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Energy YIELD moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Energy Correlation With Market

Very weak diversification

The correlation between Hamilton Energy YIELD and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Energy YIELD and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hamilton Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hamilton Energy 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 Hamilton Energy - 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 Hamilton Energy YIELD to buy it.

Moving together with Hamilton Etf

0.93	XEG	iShares SPTSX Capped	Pair Corr
0.85	ZEO	BMO Equal Weight	Pair Corr
0.94	NXF	First Asset Energy	Pair Corr
0.9	HXE	Global X SPTSX	Pair Corr
0.61	HOG	Global X Pipelines	Pair Corr
0.84	HEU	BetaPro SP TSX	Pair Corr
0.68	HURA	Global X Uranium	Pair Corr

Related Correlations Analysis

	AMAX	QQCL	BKCC	CEW	ENCL	ZFN	XSEA	XST	FMAX	XMA
AMAX		0.19	0.83	0.65	0.42	0.78	0.83	0.41	0.39	0.99	AMAX
QQCL	0.19		0.06	-0.02	-0.23	0.61	0.36	-0.29	0.36	0.18	QQCL
BKCC	0.83	0.06		0.91	0.23	0.73	0.73	0.55	0.65	0.83	BKCC
CEW	0.65	-0.02	0.91		0.0	0.59	0.45	0.63	0.74	0.62	CEW
ENCL	0.42	-0.23	0.23	0.0		0.05	0.38	0.36	-0.45	0.47	ENCL
ZFN	0.78	0.61	0.73	0.59	0.05		0.82	0.16	0.67	0.77	ZFN
XSEA	0.83	0.36	0.73	0.45	0.38	0.82		0.16	0.37	0.87	XSEA
XST	0.41	-0.29	0.55	0.63	0.36	0.16	0.16		0.26	0.39	XST
FMAX	0.39	0.36	0.65	0.74	-0.45	0.67	0.37	0.26		0.35	FMAX
XMA	0.99	0.18	0.83	0.62	0.47	0.77	0.87	0.39	0.35		XMA
	AMAX	QQCL	BKCC	CEW	ENCL	ZFN	XSEA	XST	FMAX	XMA

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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

XMA	+ 0.99	AMAX
CEW	+ 0.91	BKCC
XMA	+ 0.87	XSEA
BKCC	+ 0.83	AMAX
XSEA	+ 0.83	AMAX
XMA	+ 0.83	BKCC

High negative correlations

FMAX	- 0.45	ENCL
XST	- 0.29	QQCL
ENCL	- 0.23	QQCL
CEW	- 0.02	QQCL
ENCL	- 0.0	CEW

Hamilton Energy Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Energy 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 Hamilton Energy'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
AMAX	1.77	0.29	0.10	0.37	2.74	(1.85)	3.96	(3.85)	16.30
QQCL	0.78	(0.13)	0.00	(0.20)	0.00	0.00	1.56	(1.85)	5.29
BKCC	0.40	0.10	0.16	0.46	0.22	(0.47)	0.84	(0.78)	2.46
CEW	0.52	0.07	0.06	0.21	0.65	(0.61)	1.34	(1.07)	4.71
ENCL	0.93	0.18	0.11	(1.24)	1.16	(1.02)	1.67	(2.03)	5.99
ZFN	0.92	(0.06)	0.00	(0.05)	0.00	0.00	2.05	(2.09)	5.52
XSEA	0.54	0.05	0.05	0.15	0.60	(0.59)	1.28	(1.05)	3.06
XST	0.77	0.00	0.15	0.00	0.61	(0.89)	2.64	(1.40)	4.65
FMAX	0.70	(0.02)	(0.04)	(0.01)	1.01	(0.69)	1.28	(1.79)	4.62
XMA	1.64	0.34	0.10	0.45	2.59	(1.58)	3.59	(3.27)	15.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hamilton Energy 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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