CI Enhanced Correlations

Etfs . Canada . 
Etf . CI Enhanced Short
FSB Etf  CAD 9.67  0.01  0.10%   
The current 90-days correlation between CI Enhanced Short and Desjardins RI USA is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI Enhanced Short moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI Enhanced Correlation With Market

Poor diversification

The correlation between CI Enhanced Short and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI Enhanced Short and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CI Enhanced 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 Enhanced 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 Enhanced - 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 Enhanced Short to buy it.

Moving together with FSB Etf

  0.78PCOR PIMCO Managed CorePairCorr
  0.83CPLS CIBC Core PlusPairCorr
  0.65XSE iShares ConservativePairCorr
  0.87XSC iShares ConservativePairCorr
  0.75HGU BetaPro Canadian GoldPairCorr
  0.86HGGG Harvest Global GoldPairCorr
  0.85GLDX Global X GoldPairCorr
  0.86ZGD BMO Equal WeightPairCorr
  0.86ZJG BMO Junior GoldPairCorr
  0.79HBU BetaPro Gold BullionPairCorr
  0.67SVR iShares Silver BullionPairCorr
  0.86XGD iShares SPTSX GlobalPairCorr
  0.67SBT Silver Bullion TrustPairCorr
  0.82ZUD BMO Dividend HedgedPairCorr
  0.83XEN iShares Jantzi SocialPairCorr
  0.79RAAA Corton Enhanced IncomePairCorr
  0.73ZGI BMO Global InfrastructurePairCorr
  0.84NXF First Asset EnergyPairCorr
  0.91MINT-B Manulife MultifactorPairCorr
  0.88WSHR Wealthsimple ShariahPairCorr
  0.87ZCON BMO Conservative ETFPairCorr
  0.89DGRC CI Canada QualityPairCorr
  0.81XEG iShares SPTSX CappedPairCorr
  0.75DXAU Dynamic Active GlobalPairCorr
  0.88XSB iShares Canadian ShortPairCorr
  0.9DXBG Dynamic Global FixedPairCorr
  0.61SHPD SavvyShort Shopify ETFPairCorr
  0.81ZMID BMO SP MidPairCorr
  0.92XEU iShares MSCI EuropePairCorr
  0.86ATSX Accelerate Canadian LongPairCorr
  0.9PDIV Purpose Enhanced DividendPairCorr
  0.88BMAX Brompton Enhanced MultiPairCorr
  0.93XSH iShares Core CanadianPairCorr
  0.85XSTB iShares ESG AwarePairCorr
  0.71ZBK BMO Equal WeightPairCorr
  0.72CALL Evolve Banks EnhancedPairCorr
  0.72ZLC BMO Long CorporatePairCorr

Related Correlations Analysis


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

HPYT
+ 0.99
HBND
XCS
+ 0.92
PFAE
HEWB
+ 0.88
PFAE
HEWB
+ 0.84
XCS
DRFU
+ 0.84
HEWB
DRFU
+ 0.83
PFAE
  

High negative correlations

ZFH
- 0.39
XSAB
DRFU
- 0.37
HPYT
DRFU
- 0.35
HBND
ZFH
- 0.31
HPYT
ZFH
- 0.3
HBND
ZFH
- 0.28
XHB

CI Enhanced Constituents Risk-Adjusted Indicators

There is a big difference between FSB Etf performing well and CI Enhanced 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 Enhanced'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HBND  0.33  0.00 (0.12) 0.06  0.42 
(0.36)
 0.63 
(0.55)
 1.94 
HPYT  0.33  0.00 (0.12) 0.13  0.42 
(0.38)
 0.60 
(0.71)
 1.87 
XHB  0.12  0.02 (0.23) 0.32  0.06 
(0.13)
 0.25 
(0.30)
 0.80 
XSAB  0.16  0.00 (0.22) 0.12  0.19 
(0.18)
 0.33 
(0.28)
 1.27 
PFAE  0.66  0.11  0.06  0.30  0.83 
(0.73)
 1.51 
(1.69)
 5.59 
ZFH  0.16 (0.01)(0.25)(0.29) 0.26 
(0.18)
 0.33 
(0.33)
 1.44 
XCS  1.12  0.33  0.15  0.51  1.57 
(1.21)
 2.75 
(2.39)
 8.15 
HEWB  0.57  0.16  0.16  0.44  0.40 
(0.63)
 1.31 
(1.06)
 3.58 
XQLT  0.57  0.01 (0.03) 0.08  0.60 
(0.65)
 1.27 
(1.09)
 3.21 
DRFU  0.43  0.06  0.00  0.33  0.34 
(0.78)
 1.09 
(0.95)
 5.61 

Be your own money manager

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