CI Preferred Correlations

FPR Etf

CAD 25.78 0.12 0.47%

The current 90-days correlation between CI Preferred Share and Evolve Innovation Index is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Preferred moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Preferred Share moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Preferred Correlation With Market

Very poor diversification

The correlation between CI Preferred Share and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Preferred Share and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with FPR Etf

0.94	ZPR	BMO Laddered Preferred	Pair Corr
0.93	HPR	Global X Active	Pair Corr
0.89	CPD	iShares SPTSX Canadian	Pair Corr
0.94	RPF	RBC Canadian Preferred	Pair Corr
0.93	DXP	Dynamic Active Preferred	Pair Corr
0.89	DIVS	Evolve Active Canadian	Pair Corr
0.9	XPF	iShares SPTSX North	Pair Corr
0.85	PR	Lysander Slater Pref	Pair Corr
0.94	HFP	Global X Active	Pair Corr
0.8	HBGD	Global X Big	Pair Corr
0.76	ZUB	BMO Equal Weight	Pair Corr
0.74	ZBK	BMO Equal Weight	Pair Corr
0.77	CALL	Evolve Banks Enhanced	Pair Corr
0.74	ZWK	BMO Covered Call	Pair Corr
0.8	CALL-B	Evolve Banks Enhanced	Pair Corr
0.79	GBUL	Ninepoint Gold Bullion	Pair Corr
0.72	PINV	Purpose Global Innovators	Pair Corr
0.84	QDX	Mackenzie International	Pair Corr
0.67	XDG	iShares Core MSCI	Pair Corr
0.82	HGGG	Harvest Global Gold	Pair Corr
0.89	COPP	Global X Copper	Pair Corr
0.66	XDIV	iShares Core MSCI	Pair Corr
0.62	XEG	iShares SPTSX Capped	Pair Corr
0.76	ZSML	BMO SP Small	Pair Corr
0.76	HXH	Global X Canadian	Pair Corr
0.85	BANK	Evolve Canadian Banks	Pair Corr
0.73	TGFI	TD Active Global	Pair Corr
0.78	RID	RBC Quant EAFE	Pair Corr
0.77	PXS	Invesco RAFI Index	Pair Corr
0.63	PFMN	Picton Mahoney Fortified	Pair Corr
0.85	MCSM	Manulife Multifactor	Pair Corr
0.77	SBT	Silver Bullion Trust	Pair Corr
0.65	XINC	iShares Core Income	Pair Corr

Moving against FPR Etf

0.42	HBLK	Blockchain Technologies	Pair Corr
0.42	CBCX	CI Galaxy Blockchain	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

CI Preferred Competition Risk-Adjusted Indicators

There is a big difference between FPR Etf performing well and CI Preferred 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 CI Preferred'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
META	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in CI Preferred 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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