Harvest High Correlations

HHIH Etf

11.44 0.41 3.46%

The current 90-days correlation between Harvest High Income and Harvest Premium Yield is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest High moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest High Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest High Correlation With Market

Modest diversification

The correlation between Harvest High Income and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest High Income and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Harvest High could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harvest High 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 Harvest High - 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 Harvest High Income to buy it.

Moving together with Harvest Etf

0.62	ZSP	BMO SP 500	Pair Corr
0.62	VFV	Vanguard SP 500	Pair Corr
0.62	HXS	Global X SP	Pair Corr
0.62	XUS	iShares Core SP	Pair Corr
0.67	ZQQ	BMO NASDAQ 100	Pair Corr
0.68	XQQ	iShares NASDAQ 100	Pair Corr

Moving against Harvest Etf

0.6	HFU	BetaPro SPTSX Capped	Pair Corr
0.59	HGU	BetaPro Canadian Gold	Pair Corr
0.52	HZU	BetaPro Silver 2x	Pair Corr
0.48	HEU	BetaPro SP TSX	Pair Corr
0.46	ZGD	BMO Equal Weight	Pair Corr
0.7	RQO	RBC Target 2026	Pair Corr
0.55	MNS	Royal Canadian Mint	Pair Corr
0.53	ZJG	BMO Junior Gold	Pair Corr
0.49	EIT-UN	Canoe EIT Income	Pair Corr
0.47	PIN	Purpose Monthly Income	Pair Corr
0.38	XEG	iShares SPTSX Capped	Pair Corr
0.35	FSR	First Trust Morningstar	Pair Corr
0.35	CUD	iShares Dividend Growers	Pair Corr
0.33	RCD	RBC Quant Canadian	Pair Corr
0.64	BNC	Purpose Canadian Fin	Pair Corr
0.63	BITI	BetaPro Inverse Bitcoin	Pair Corr
0.6	VVSG	Vanguard Canadian Ultra	Pair Corr
0.54	GLDX	Global X Gold	Pair Corr
0.5	SBT	Silver Bullion Trust	Pair Corr
0.43	PRP	Purpose Conservative	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.31	-0.37	0.24	-0.18	0.47	-0.15	-0.35	-0.43	META
MSFT	0.61		0.8	-0.54	0.5	0.13	0.2	-0.4	-0.84	-0.72	MSFT
UBER	0.31	0.8		-0.47	0.43	0.37	-0.09	-0.47	-0.81	-0.53	UBER
F	-0.37	-0.54	-0.47		-0.69	0.03	0.21	0.66	0.7	0.69	F
T	0.24	0.5	0.43	-0.69		0.4	-0.36	-0.55	-0.51	-0.65	T
A	-0.18	0.13	0.37	0.03	0.4		-0.44	-0.25	-0.13	-0.19	A
CRM	0.47	0.2	-0.09	0.21	-0.36	-0.44		0.52	0.05	-0.09	CRM
JPM	-0.15	-0.4	-0.47	0.66	-0.55	-0.25	0.52		0.6	0.44	JPM
MRK	-0.35	-0.84	-0.81	0.7	-0.51	-0.13	0.05	0.6		0.78	MRK
XOM	-0.43	-0.72	-0.53	0.69	-0.65	-0.19	-0.09	0.44	0.78		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	+ 0.8	MSFT
XOM	+ 0.78	MRK
MRK	+ 0.7	F
XOM	+ 0.69	F
JPM	+ 0.66	F
MSFT	+ 0.61	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.65	T
JPM	- 0.55	T

Harvest High Competition Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest High 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 Harvest High'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	1.34	(0.31)	0.00	(0.25)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.96	(0.21)	0.00	(0.41)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.23)	0.00	(0.20)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.12	0.10	0.15	1.33	(1.75)	3.38	(2.35)	16.30
T	0.89	(0.17)	0.00	(0.46)	0.00	0.00	1.53	(1.85)	4.30
A	1.16	(0.12)	0.00	(0.03)	0.00	0.00	2.34	(2.24)	7.85
CRM	1.59	(0.16)	0.00	(0.08)	0.00	0.00	3.66	(3.10)	12.37
JPM	1.16	(0.10)	(0.04)	0.00	1.73	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.27	0.53	1.01	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.15	4.24	0.98	(1.21)	2.37	(1.51)	5.82

Be your own money manager

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