Evolve SP Correlations

ESPX Etf

26.02 0.06 0.23%

The current 90-days correlation between Evolve SP 500 and Evolve SPTSX 60 is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evolve SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Evolve SP Correlation With Market

Very weak diversification

The correlation between Evolve SP 500 and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolve SP 500 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Evolve SP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evolve SP 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 Evolve SP - 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 Evolve SP 500 to buy it.

Moving together with Evolve Etf

0.98	XSP	iShares Core SP	Pair Corr
0.84	ZSP	BMO SP 500	Pair Corr
0.84	VFV	Vanguard SP 500	Pair Corr
0.83	HXS	Global X SP	Pair Corr
0.84	XUS	iShares Core SP	Pair Corr
0.84	ESGY	BMO MSCI USA	Pair Corr
0.98	ZUE	BMO SP 500	Pair Corr
0.97	VSP	Vanguard SP 500	Pair Corr
0.89	ZQQ	BMO NASDAQ 100	Pair Corr
0.89	XQQ	iShares NASDAQ 100	Pair Corr
0.72	XIU	iShares SPTSX 60	Pair Corr
0.71	XIC	iShares Core SPTSX	Pair Corr
0.71	ZCN	BMO SPTSX Capped	Pair Corr
0.67	ZEB	BMO SPTSX Equal	Pair Corr
0.78	ZDY	BMO Dividend ETF	Pair Corr
0.7	FGEB	Fidelity Global Equity	Pair Corr
0.65	RQO	RBC Target 2026	Pair Corr
0.63	BFIN	Brompton North American	Pair Corr
0.86	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.68	HFU	BetaPro SPTSX Capped	Pair Corr
0.64	ZMMK	BMO Money Market	Pair Corr
0.83	QQU	BetaPro NASDAQ 100	Pair Corr
0.71	HXU	BetaPro SP TSX	Pair Corr
0.79	ZEA	BMO MSCI EAFE	Pair Corr
0.63	FCMI	Fidelity Canadian Monthly	Pair Corr

Related Correlations Analysis

	ETSX	CGXF	GBAL	HAC	XHU	FCID	HBAL	SPXU	GEQT	PID
ETSX		0.84	0.52	0.8	0.02	0.8	0.54	0.56	0.63	0.87	ETSX
CGXF	0.84		0.23	0.68	0.21	0.6	0.22	0.21	0.32	0.68	CGXF
GBAL	0.52	0.23		0.76	-0.19	0.59	0.88	0.86	0.97	0.57	GBAL
HAC	0.8	0.68	0.76		-0.16	0.63	0.61	0.71	0.83	0.69	HAC
XHU	0.02	0.21	-0.19	-0.16		0.03	0.03	-0.28	-0.24	0.01	XHU
FCID	0.8	0.6	0.59	0.63	0.03		0.74	0.62	0.64	0.96	FCID
HBAL	0.54	0.22	0.88	0.61	0.03	0.74		0.82	0.86	0.71	HBAL
SPXU	0.56	0.21	0.86	0.71	-0.28	0.62	0.82		0.9	0.58	SPXU
GEQT	0.63	0.32	0.97	0.83	-0.24	0.64	0.86	0.9		0.63	GEQT
PID	0.87	0.68	0.57	0.69	0.01	0.96	0.71	0.58	0.63		PID
	ETSX	CGXF	GBAL	HAC	XHU	FCID	HBAL	SPXU	GEQT	PID

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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

GEQT	+ 0.97	GBAL
PID	+ 0.96	FCID
GEQT	+ 0.9	SPXU
HBAL	+ 0.88	GBAL
PID	+ 0.87	ETSX
SPXU	+ 0.86	GBAL

High negative correlations

SPXU	- 0.28	XHU
GEQT	- 0.24	XHU
XHU	- 0.19	GBAL
XHU	- 0.16	HAC

Evolve SP Constituents Risk-Adjusted Indicators

There is a big difference between Evolve Etf performing well and Evolve SP 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 Evolve SP'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
ETSX	0.54	0.07	0.03	0.29	0.59	(0.56)	1.24	(1.27)	3.42
CGXF	1.77	0.22	0.06	0.51	2.62	(1.84)	3.73	(4.42)	13.40
GBAL	0.42	0.01	(0.06)	0.12	0.49	(0.44)	1.02	(0.91)	2.31
HAC	0.45	0.04	(0.02)	0.21	0.52	(0.49)	0.95	(1.02)	3.01
XHU	0.44	(0.01)	(0.13)	(0.11)	0.57	(0.43)	0.90	(0.87)	2.60
FCID	0.51	0.04	0.00	0.16	0.59	(0.52)	1.03	(0.99)	3.34
HBAL	0.35	0.01	(0.08)	0.11	0.45	(0.34)	0.75	(0.75)	2.01
SPXU	1.15	0.02	0.01	0.09	1.82	(1.03)	2.52	(2.42)	6.61
GEQT	0.59	0.03	(0.01)	0.13	0.79	(0.57)	0.98	(1.33)	3.59
PID	0.52	0.08	0.05	0.25	0.55	(0.57)	1.35	(1.27)	3.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in Evolve SP 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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