Hamilton Enhanced Correlations

HCAL Etf

CAD 38.18 0.19 0.50%

The current 90-days correlation between Hamilton Enhanced and Vanguard FTSE Developed is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Enhanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Enhanced Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Enhanced Correlation With Market

Almost no diversification

The correlation between Hamilton Enhanced Canadian and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Enhanced Canadian and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hamilton 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 Hamilton 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 Hamilton 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 Hamilton Enhanced Canadian to buy it.

Moving together with Hamilton Etf

0.88	PFLS	Picton Mahoney Fortified	Pair Corr
0.85	HAC	Global X Seasonal	Pair Corr
0.89	PFAE	Picton Mahoney Fortified	Pair Corr
0.95	BANK	Evolve Canadian Banks	Pair Corr
0.62	HURA	Global X Uranium	Pair Corr
0.67	HBGD	Global X Big	Pair Corr
0.61	HBGD-U	Global X Big	Pair Corr
0.93	EQL-U	Invesco SP 500	Pair Corr
0.81	NMNG	Ninepoint Mining Evo	Pair Corr
0.88	XEN	iShares Jantzi Social	Pair Corr
0.72	XDUH	iShares Core MSCI	Pair Corr
0.82	HXX	Global X Europe	Pair Corr
0.62	WSHR	Wealthsimple Shariah	Pair Corr
0.89	ZDM	BMO MSCI EAFE	Pair Corr
0.87	ATSX	Accelerate Canadian Long	Pair Corr
0.87	XEU	iShares MSCI Europe	Pair Corr
0.77	ZUD	BMO Dividend Hedged	Pair Corr
0.79	DGRC	CI Canada Quality	Pair Corr
0.81	DXAU	Dynamic Active Global	Pair Corr
0.96	ZBK	BMO Equal Weight	Pair Corr
0.82	HXU	BetaPro SP TSX	Pair Corr
0.84	PDIV	Purpose Enhanced Dividend	Pair Corr
0.97	CALL	Evolve Banks Enhanced	Pair Corr
0.9	GCTB	Guardian Ultra Short	Pair Corr

Moving against Hamilton Etf

0.47

GDPY-B

Guardian Directed Premium

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.32	-0.37	0.39	0.13	-0.44	-0.06	0.36	0.39	0.36	META
MSFT	-0.32		0.82	-0.58	-0.74	0.74	0.86	0.07	-0.87	-0.92	MSFT
UBER	-0.37	0.82		-0.53	-0.61	0.81	0.63	-0.09	-0.8	-0.79	UBER
F	0.39	-0.58	-0.53		0.19	-0.48	-0.33	0.27	0.74	0.64	F
T	0.13	-0.74	-0.61	0.19		-0.51	-0.8	-0.16	0.54	0.65	T
A	-0.44	0.74	0.81	-0.48	-0.51		0.56	-0.02	-0.67	-0.8	A
CRM	-0.06	0.86	0.63	-0.33	-0.8	0.56		0.43	-0.66	-0.84	CRM
JPM	0.36	0.07	-0.09	0.27	-0.16	-0.02	0.43		0.21	-0.1	JPM
MRK	0.39	-0.87	-0.8	0.74	0.54	-0.67	-0.66	0.21		0.87	MRK
XOM	0.36	-0.92	-0.79	0.64	0.65	-0.8	-0.84	-0.1	0.87		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

XOM	+ 0.87	MRK
CRM	+ 0.86	MSFT
UBER	+ 0.82	MSFT
A	+ 0.81	UBER
A	+ 0.74	MSFT
MRK	+ 0.74	F

High negative correlations

XOM	- 0.92	MSFT
MRK	- 0.87	MSFT
XOM	- 0.84	CRM
XOM	- 0.8	A
CRM	- 0.8	T
MRK	- 0.8	UBER

Hamilton Enhanced Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton 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 Hamilton 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.48	0.06	0.03	0.13	1.43	(1.79)	3.43	(2.60)	13.69
MSFT	1.31	(0.36)	0.00	(1.07)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.54	(0.36)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
F	1.20	0.03	0.02	0.09	1.21	(1.45)	3.34	(2.30)	7.16
T	1.01	0.14	0.08	28.20	0.94	(1.19)	3.87	(1.76)	7.44
A	1.23	(0.29)	0.00	(0.18)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.70	(0.43)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.21	(0.08)	(0.03)	0.00	1.66	(1.30)	2.34	(2.63)	7.38
MRK	1.28	0.39	0.28	0.63	0.97	(1.54)	2.93	(1.98)	8.74
XOM	1.27	0.37	0.23	1.41	1.06	(1.46)	2.90	(2.12)	6.83

Be your own money manager

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