Guardian Directed Correlations

Etfs . Canada . 
Etf . Guardian Directed Equity
GDEP Etf  CAD 18.59  0.16  0.87%   
The current 90-days correlation between Guardian Directed Equity and BetaPro SP 500 is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Guardian Directed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian Directed Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Guardian Directed Correlation With Market

Very good diversification

The correlation between Guardian Directed Equity and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardian Directed Equity and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Guardian Directed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardian Directed 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 Guardian Directed - 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 Guardian Directed Equity to buy it.

Moving together with Guardian Etf

  0.75NSGE NBI Sustainable GlobalPairCorr

Moving against Guardian Etf

  0.85CGRA CI Global RealPairCorr
  0.63HBU BetaPro Gold BullionPairCorr
  0.6ZJG BMO Junior GoldPairCorr
  0.6HGGG Harvest Global GoldPairCorr
  0.59ZGD BMO Equal WeightPairCorr
  0.58XMW iShares MSCI MinPairCorr
  0.58XGD iShares SPTSX GlobalPairCorr
  0.54XEQT iShares Core EquityPairCorr
  0.54DXG Dynamic Active GlobalPairCorr
  0.52VEQT Vanguard All EquityPairCorr
  0.5XAW iShares Core MSCIPairCorr
  0.47VXC Vanguard FTSE GlobalPairCorr
  0.46HGU BetaPro Canadian GoldPairCorr
  0.85HXE Global X SPTSXPairCorr
  0.85XEG iShares SPTSX CappedPairCorr
  0.84CYH iShares Global MonthlyPairCorr
  0.83HXH Global X CanadianPairCorr
  0.76PSB Invesco 1 5PairCorr
  0.71XDV iShares Canadian SelectPairCorr
  0.68TGFI TD Active GlobalPairCorr
  0.62CORE PIMCO Canadian CorePairCorr
  0.59XBAL iShares Core BalancedPairCorr
  0.58COPP Global X CopperPairCorr
  0.57XSI iShares Short TermPairCorr
  0.56VCN Vanguard FTSE CanadaPairCorr
  0.53HEP Global X EnhancedPairCorr
  0.46HXU BetaPro SP TSXPairCorr
  0.86HEU BetaPro SP TSXPairCorr
  0.79VSB Vanguard Canadian ShortPairCorr
  0.79RID RBC Quant EAFEPairCorr
  0.78OILU SavvyLong Geared CrudePairCorr
  0.78VSC Vanguard Canadian ShortPairCorr
  0.74UMI CI MidCap DividendPairCorr

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

BASE
+ 0.91
DRMC
HUTE
+ 0.89
BASE
GIQG
+ 0.81
QQCI
QQCI
+ 0.79
EDGE
HUTE
+ 0.76
XMS
GIQG
+ 0.74
EDGE
  

High negative correlations

HUTE
- 0.87
EDGE
BASE
- 0.72
EDGE
HUTE
- 0.68
HMMJ
HMMJ
- 0.63
BASE
SPXD
- 0.61
DRMC
EDGE
- 0.61
XMS

Guardian Directed Constituents Risk-Adjusted Indicators

There is a big difference between Guardian Etf performing well and Guardian Directed 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 Guardian Directed'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
XMS  0.33  0.04 (0.15) 3.86  0.35 
(0.37)
 0.88 
(0.70)
 2.43 
DRMC  0.63  0.15  0.09  0.38  0.72 
(0.69)
 1.36 
(0.85)
 4.74 
EDGE  0.77 (0.16) 0.00 (0.09) 0.00 
 0.00 
 1.37 
(2.06)
 6.05 
BASE  1.06  0.43  0.31  0.76  0.74 
(1.30)
 2.34 
(1.37)
 6.73 
QQCI  0.60 (0.07)(0.13) 0.01  0.81 
(0.60)
 1.14 
(1.35)
 3.88 
HMMJ  1.68 (0.02)(0.06)(0.02) 1.95 
(2.06)
 3.51 
(3.71)
 22.83 
GCNS  0.33  0.01 (0.20) 0.22  0.37 
(0.35)
 0.76 
(0.67)
 2.07 
GIQG  0.67 (0.03)(0.08) 0.06  0.88 
(0.70)
 1.49 
(1.68)
 4.15 
HUTE  0.52  0.20  0.13  54.74  0.29 
(0.63)
 1.09 
(1.10)
 2.51 
SPXD  1.03  0.02  0.00  0.10  0.00 
 0.00 
 2.30 
(1.81)
 6.31 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Guardian Directed 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.

Did you try this?

Run Idea Analyzer Now

   

Idea Analyzer

Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2026 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY