Guardian Strategic Correlations

GSIF Etf

19.78 0.01 0.05%

The current 90-days correlation between Guardian Strategic Income and Guardian Directed Equity is -0.03 (i.e., Good diversification). The correlation of Guardian Strategic is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Guardian Strategic Correlation With Market

Modest diversification

The correlation between Guardian Strategic Income and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardian Strategic Income and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Guardian Strategic 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 Strategic 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 Strategic - 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 Strategic Income to buy it.

Moving together with Guardian Etf

0.81	XIU	iShares SPTSX 60	Pair Corr
0.67	XSP	iShares Core SP	Pair Corr
0.82	XIC	iShares Core SPTSX	Pair Corr
0.82	ZCN	BMO SPTSX Capped	Pair Corr
0.75	ZEB	BMO SPTSX Equal	Pair Corr

Moving against Guardian Etf

0.81	HXD	BetaPro SPTSX 60	Pair Corr
0.63	HIU	BetaPro SP 500	Pair Corr
0.62	TCLB	TD Canadian Long	Pair Corr
0.5	HUC	Global X Crude	Pair Corr
0.44	ZAG	BMO Aggregate Bond	Pair Corr
0.44	XBB	iShares Canadian Universe	Pair Corr
0.42	HQD	BetaPro NASDAQ 100	Pair Corr
0.38	HOU	BetaPro Crude Oil	Pair Corr
0.36	HBLK	Blockchain Technologies	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	0.37	-0.51	0.31	-0.31	0.32	-0.24	-0.36	-0.46	META
MSFT	0.62		0.84	-0.53	0.45	-0.02	-0.03	-0.52	-0.82	-0.65	MSFT
UBER	0.37	0.84		-0.54	0.5	0.22	-0.23	-0.53	-0.82	-0.62	UBER
F	-0.51	-0.53	-0.54		-0.69	0.17	0.33	0.65	0.68	0.78	F
T	0.31	0.45	0.5	-0.69		0.24	-0.62	-0.72	-0.47	-0.6	T
A	-0.31	-0.02	0.22	0.17	0.24		-0.48	-0.19	0.02	0.01	A
CRM	0.32	-0.03	-0.23	0.33	-0.62	-0.48		0.55	0.27	0.32	CRM
JPM	-0.24	-0.52	-0.53	0.65	-0.72	-0.19	0.55		0.7	0.71	JPM
MRK	-0.36	-0.82	-0.82	0.68	-0.47	0.02	0.27	0.7		0.8	MRK
XOM	-0.46	-0.65	-0.62	0.78	-0.6	0.01	0.32	0.71	0.8		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

UBER	+ 0.84	MSFT
XOM	+ 0.8	MRK
XOM	+ 0.78	F
XOM	+ 0.71	JPM
MRK	+ 0.7	JPM
MRK	+ 0.68	F

High negative correlations

MRK	- 0.82	UBER
MRK	- 0.82	MSFT
JPM	- 0.72	T
T	- 0.69	F
XOM	- 0.65	MSFT
CRM	- 0.62	T

Guardian Strategic Competition Risk-Adjusted Indicators

There is a big difference between Guardian Etf performing well and Guardian Strategic 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 Strategic'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	1.37	(0.24)	0.00	(0.16)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.91	(0.19)	0.00	(0.29)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.53	(0.32)	0.00	(0.22)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.27	0.14	1.03	1.32	(1.68)	3.38	(2.35)	16.30
T	0.88	(0.12)	0.00	5.02	0.00	0.00	1.63	(1.85)	5.74
A	1.12	(0.02)	(0.01)	0.07	1.28	(1.20)	2.34	(2.22)	6.50
CRM	1.52	0.05	0.02	0.15	1.89	(1.56)	3.66	(2.92)	9.91
JPM	1.12	(0.01)	0.01	0.08	1.44	(1.17)	2.34	(2.28)	7.02
MRK	1.21	0.30	0.22	0.46	1.04	(1.52)	3.59	(1.98)	8.09
XOM	1.04	0.11	0.04	0.43	1.07	(1.15)	2.21	(1.93)	5.82

Be your own money manager

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