BetaPro SPTSX Correlations

Etfs Canada . 
Etf . BetaPro SPTSX 60
HIX Etf  CAD 18.67  0.02  0.11%   
The current 90-days correlation between BetaPro SPTSX 60 and Invesco ESG Canadian is -0.14 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BetaPro SPTSX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro SPTSX 60 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BetaPro SPTSX Correlation With Market

Pay attention - limited upside

The correlation between BetaPro SPTSX 60 and DJI is -0.84 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BetaPro SPTSX 60 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BetaPro SPTSX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BetaPro SPTSX 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 BetaPro SPTSX - 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 BetaPro SPTSX 60 to buy it.

Moving together with BetaPro Etf

  0.74HSD BetaPro SP 500PairCorr
  0.95HXD BetaPro SPTSX 60PairCorr
  0.66HOD BetaPro Crude OilPairCorr

Moving against BetaPro Etf

  0.94HXU BetaPro SP TSXPairCorr
  0.89HGU BetaPro Canadian GoldPairCorr
  0.89ZGD BMO Equal WeightPairCorr
  0.89XGD iShares SPTSX GlobalPairCorr
  0.88ZJG BMO Junior GoldPairCorr
  0.88HGGG Harvest Global GoldPairCorr
  0.8HBU BetaPro Gold BullionPairCorr
  0.8MNS Royal Canadian MintPairCorr
  0.65HSU BetaPro SP 500PairCorr
  0.59HOU BetaPro Crude OilPairCorr
  0.59HZU BetaPro Silver 2xPairCorr
  0.92VCN Vanguard FTSE CanadaPairCorr
  0.92XESG iShares ESG AwarePairCorr
  0.91HEP Global X EnhancedPairCorr
  0.85XBAL iShares Core BalancedPairCorr
  0.84PINC Purpose Multi AssetPairCorr
  0.83XSMH iShares SP SmallPairCorr
  0.81UMI CI MidCap DividendPairCorr
  0.8GBUL Ninepoint Gold BullionPairCorr
  0.8SVR-C iShares Silver BullionPairCorr
  0.77HXH Global X CanadianPairCorr
  0.75CYH iShares Global MonthlyPairCorr
  0.71XDIV iShares Core MSCIPairCorr
  0.64PSB Invesco 1 5PairCorr
  0.63VSB Vanguard Canadian ShortPairCorr
  0.6HXE Global X SPTSXPairCorr
  0.43CORE PIMCO Canadian CorePairCorr
  0.42PREF Quadravest PreferredPairCorr
  0.9MCSM Manulife MultifactorPairCorr
  0.88COPP Global X CopperPairCorr
  0.86BLCK First Trust IndxxPairCorr
  0.86PDIV Purpose Enhanced DividendPairCorr
  0.85QDX Mackenzie InternationalPairCorr
  0.85FMAE Fidelity Multi AltPairCorr

Related Correlations Analysis


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

CRM
+ 0.91
MSFT
XOM
+ 0.91
MRK
UBER
+ 0.82
MSFT
A
+ 0.81
UBER
A
+ 0.79
MSFT
MRK
+ 0.75
F
  

High negative correlations

XOM
- 0.94
MSFT
MRK
- 0.89
MSFT
XOM
- 0.88
CRM
CRM
- 0.84
T
T
- 0.84
MSFT
XOM
- 0.83
A

BetaPro SPTSX Competition Risk-Adjusted Indicators

There is a big difference between BetaPro Etf performing well and BetaPro SPTSX 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 BetaPro SPTSX'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.53  0.09  0.04  0.20  1.51 
(1.75)
 3.43 
(2.81)
 13.69 
MSFT  1.33 (0.33) 0.00 (0.60) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.61 (0.31) 0.00  0.76  0.00 
 0.00 
 2.46 
(4.25)
 11.09 
F  1.29  0.09  0.07  0.19  1.16 
(1.56)
 3.61 
(2.30)
 7.50 
T  1.04  0.18  0.06 (1.21) 0.94 
(1.20)
 3.87 
(1.76)
 7.44 
A  1.26 (0.33) 0.00 (0.19) 0.00 
 0.00 
 2.90 
(2.72)
 7.85 
CRM  1.74 (0.35) 0.00 (0.21) 0.00 
 0.00 
 3.41 
(4.75)
 12.37 
JPM  1.25 (0.15)(0.05) 0.01  1.79 
(1.31)
 2.34 
(3.11)
 8.17 
MRK  1.22  0.33  0.22  0.58  0.98 
(1.40)
 2.81 
(1.98)
 8.74 
XOM  1.29  0.37  0.19  3.51  1.09 
(1.50)
 2.90 
(2.44)
 6.83 

Be your own money manager

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