Guardian Correlations

GIQU Etf

31.03 0.29 0.94%

The current 90-days correlation between Guardian i3 Quality and Guardian Directed Equity is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Guardian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian i3 Quality moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Guardian Correlation With Market

Weak diversification

The correlation between Guardian i3 Quality and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardian i3 Quality and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Guardian 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 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 - 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 i3 Quality to buy it.

Moving together with Guardian Etf

0.93	XSP	iShares Core SP	Pair Corr
0.93	ZSP	BMO SP 500	Pair Corr
0.94	VFV	Vanguard SP 500	Pair Corr
0.94	HXS	Global X SP	Pair Corr
0.94	XUS	iShares Core SP	Pair Corr
0.93	ZUE	BMO SP 500	Pair Corr
0.93	VSP	Vanguard SP 500	Pair Corr
0.93	ZQQ	BMO NASDAQ 100	Pair Corr
0.93	XQQ	iShares NASDAQ 100	Pair Corr
0.93	XUU	iShares Core SP	Pair Corr
0.86	CBCX	CI Galaxy Blockchain	Pair Corr
0.79	EBIT	Bitcoin ETF CAD	Pair Corr
0.79	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.79	BTCC	Purpose Bitcoin CAD	Pair Corr
0.8	FBTC	Fidelity Advantage	Pair Corr
0.8	ETC	Evolve Cryptocurrencies	Pair Corr
0.81	BTCY	Purpose Bitcoin Yield	Pair Corr
0.81	BITC	Ninepoint Bitcoin ETF	Pair Corr
0.91	HFU	BetaPro SPTSX Capped	Pair Corr
0.77	ETHQ	3iQ CoinShares Ether	Pair Corr

Related Correlations Analysis

	GDEP	GCFE	GIGR	GCSC	GCTB	GIQG	GIES	GCBD
GDEP		0.87	0.0	0.9	0.92	0.85	-0.53	-0.25	GDEP
GCFE	0.87		0.0	0.95	0.94	0.79	-0.41	-0.34	GCFE
GIGR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GIGR
GCSC	0.9	0.95	0.0		0.95	0.88	-0.36	-0.28	GCSC
GCTB	0.92	0.94	0.0	0.95		0.84	-0.5	-0.31	GCTB
GIQG	0.85	0.79	0.0	0.88	0.84		-0.32	-0.22	GIQG
GIES	-0.53	-0.41	0.0	-0.36	-0.5	-0.32		0.0	GIES
GCBD	-0.25	-0.34	0.0	-0.28	-0.31	-0.22	0.0		GCBD
	GDEP	GCFE	GIGR	GCSC	GCTB	GIQG	GIES	GCBD

Click cells to compare fundamentals

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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

GCSC	+ 0.95	GCFE
GCTB	+ 0.95	GCSC
GCTB	+ 0.94	GCFE
GCTB	+ 0.92	GDEP
GCSC	+ 0.9	GDEP
GIQG	+ 0.88	GCSC

High negative correlations

GIES	- 0.53	GDEP
GIES	- 0.5	GCTB
GIES	- 0.41	GCFE
GIES	- 0.36	GCSC
GCBD	- 0.34	GCFE
GIES	- 0.32	GIQG

Guardian Constituents Risk-Adjusted Indicators

There is a big difference between Guardian Etf performing well and Guardian 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'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
GDEP	0.31	0.05	(0.17)	6.20	0.26	(0.36)	0.70	(0.74)	1.91
GCFE	0.39	0.20	0.00	15.03	0.00	0.00	1.65	0.00	4.20
GIGR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCSC	0.34	0.10	0.01	0.48	0.00	(0.72)	1.13	(0.30)	3.64
GCTB	0.02	0.01	0.00	1.82	0.00	0.00	0.04	0.00	0.10
GIQG	0.70	0.03	(0.03)	0.20	1.02	(0.73)	1.59	(2.18)	5.46
GIES	0.21	(0.06)	0.00	(0.48)	0.00	0.00	0.00	0.00	6.89
GCBD	0.25	0.01	(0.28)	0.43	0.27	(0.29)	0.77	(0.49)	1.58

Be your own money manager

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