Hamilton Enhanced Correlations

HFIN Etf

25.97 0.15 0.57%

The current 90-days correlation between Hamilton Enhanced and Vanguard FTSE Canadian 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

Poor diversification

The correlation between Hamilton Enhanced Canadian and DJI is 0.79 (i.e., Poor 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

0.95	HCAL	Hamilton Enhanced	Pair Corr
0.85	PFLS	Picton Mahoney Fortified	Pair Corr
0.67	HAC	Global X Seasonal	Pair Corr
0.85	PFAE	Picton Mahoney Fortified	Pair Corr
0.98	BANK	Evolve Canadian Banks	Pair Corr
0.65	HGU	BetaPro Canadian Gold	Pair Corr
0.74	ZGD	BMO Equal Weight	Pair Corr
0.75	MNS	Royal Canadian Mint	Pair Corr
0.73	ZJG	BMO Junior Gold	Pair Corr
0.67	SBT	Silver Bullion Trust	Pair Corr
0.68	SVR	iShares Silver Bullion	Pair Corr
0.67	HUZ	Global X Silver	Pair Corr
0.69	XSMC	iShares SP Small	Pair Corr
0.8	DXBG	Dynamic Global Fixed	Pair Corr
0.73	HGGG	Harvest Global Gold	Pair Corr

Moving against Hamilton Etf

0.38

ARB

Accelerate Arbitrage

Pair Corr

Related Correlations Analysis

	XDSR	ENCL	RCD	BKCC	XEH	FCCD	CUD	DRMU	XEM	VRE
XDSR		0.28	-0.33	0.61	0.91	0.75	0.33	0.53	0.92	0.8	XDSR
ENCL	0.28		-0.05	0.23	0.32	0.59	0.54	-0.24	0.44	0.03	ENCL
RCD	-0.33	-0.05		-0.03	-0.29	-0.14	0.53	-0.12	-0.53	-0.39	RCD
BKCC	0.61	0.23	-0.03		0.86	0.86	0.37	0.09	0.48	0.34	BKCC
XEH	0.91	0.32	-0.29	0.86		0.9	0.35	0.31	0.82	0.67	XEH
FCCD	0.75	0.59	-0.14	0.86	0.9		0.49	0.08	0.73	0.51	FCCD
CUD	0.33	0.54	0.53	0.37	0.35	0.49		-0.09	0.18	0.12	CUD
DRMU	0.53	-0.24	-0.12	0.09	0.31	0.08	-0.09		0.38	0.48	DRMU
XEM	0.92	0.44	-0.53	0.48	0.82	0.73	0.18	0.38		0.77	XEM
VRE	0.8	0.03	-0.39	0.34	0.67	0.51	0.12	0.48	0.77		VRE
	XDSR	ENCL	RCD	BKCC	XEH	FCCD	CUD	DRMU	XEM	VRE

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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

XEM	+ 0.92	XDSR
XEH	+ 0.91	XDSR
FCCD	+ 0.9	XEH
XEH	+ 0.86	BKCC
FCCD	+ 0.86	BKCC
XEM	+ 0.82	XEH

High negative correlations

XEM	- 0.53	RCD
VRE	- 0.39	RCD
RCD	- 0.33	XDSR
XEH	- 0.29	RCD
DRMU	- 0.24	ENCL
FCCD	- 0.14	RCD

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
XDSR	0.59	0.02	0.00	0.07	0.75	(0.57)	0.95	(1.18)	3.05
ENCL	0.92	0.19	0.11	(2.77)	1.15	(0.99)	1.67	(2.03)	5.99
RCD	0.66	(0.01)	(0.02)	0.01	1.85	(0.55)	0.96	(1.22)	9.81
BKCC	0.40	0.11	0.17	0.71	0.21	(0.47)	0.84	(0.78)	2.46
XEH	0.49	0.08	0.09	0.24	0.52	(0.51)	1.20	(1.14)	2.97
FCCD	0.38	0.14	0.17	1.12	0.36	(0.42)	0.80	(0.80)	3.01
CUD	0.64	0.08	0.06	0.32	0.83	(0.71)	1.60	(1.03)	6.14
DRMU	0.58	(0.06)	0.00	(0.07)	0.00	0.00	1.02	(1.25)	4.08
XEM	0.65	0.05	0.04	0.16	0.70	(0.71)	1.27	(1.21)	4.65
VRE	0.61	0.00	(0.04)	0.01	0.74	(0.66)	1.23	(1.36)	3.79

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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