BetaPro SP Correlations

HSD Etf

CAD 11.24 0.22 2.00%

The current 90-days correlation between BetaPro SP 500 and Brompton Sustainable Real is -0.68 (i.e., Excellent diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BetaPro SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BetaPro SP Correlation With Market

Pay attention - limited upside

The correlation between BetaPro SP 500 and DJI is -0.78 (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 SP 500 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BetaPro SP 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 SP 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 SP - 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 SP 500 to buy it.

Moving together with BetaPro Etf

0.74	HXD	BetaPro SPTSX 60	Pair Corr
0.81	HQD	BetaPro NASDAQ 100	Pair Corr

Moving against BetaPro Etf

0.99	HSU	BetaPro SP 500	Pair Corr
0.73	HXU	BetaPro SP TSX	Pair Corr
0.69	MNS	Royal Canadian Mint	Pair Corr
0.67	HQU	BetaPro NASDAQ 100	Pair Corr
0.59	ZGD	BMO Equal Weight	Pair Corr
0.58	ZJG	BMO Junior Gold	Pair Corr
0.58	HGGG	Harvest Global Gold	Pair Corr
0.57	HZU	BetaPro Silver 2x	Pair Corr
0.57	XGD	iShares SPTSX Global	Pair Corr
0.55	HGU	BetaPro Canadian Gold	Pair Corr
0.54	HBU	BetaPro Gold Bullion	Pair Corr
0.31	HOU	BetaPro Crude Oil	Pair Corr
0.66	XESG	iShares ESG Aware	Pair Corr
0.65	VCN	Vanguard FTSE Canada	Pair Corr
0.65	SVR-C	iShares Silver Bullion	Pair Corr
0.63	XSMH	iShares SP Small	Pair Corr
0.62	HEP	Global X Enhanced	Pair Corr
0.59	XBAL	iShares Core Balanced	Pair Corr
0.56	UMI	CI MidCap Dividend	Pair Corr
0.52	GBUL	Ninepoint Gold Bullion	Pair Corr
0.48	PINC	Purpose Multi Asset	Pair Corr
0.4	PREF	Quadravest Preferred	Pair Corr
0.4	CYH	iShares Global Monthly	Pair Corr
0.39	HXH	Global X Canadian	Pair Corr
0.35	XDIV	iShares Core MSCI	Pair Corr
0.72	BLCK	First Trust Indxx	Pair Corr
0.69	BANK	Evolve Canadian Banks	Pair Corr
0.67	COPP	Global X Copper	Pair Corr
0.66	SBT	Silver Bullion Trust	Pair Corr
0.59	MCSM	Manulife Multifactor	Pair Corr
0.59	PDIV	Purpose Enhanced Dividend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	-0.24	0.32	0.11	-0.36	-0.02	0.33	0.25	0.29	META
MSFT	-0.19		0.83	-0.6	-0.83	0.78	0.9	0.22	-0.89	-0.94	MSFT
UBER	-0.24	0.83		-0.54	-0.72	0.84	0.71	0.07	-0.8	-0.82	UBER
F	0.32	-0.6	-0.54		0.29	-0.52	-0.39	0.15	0.75	0.66	F
T	0.11	-0.83	-0.72	0.29		-0.6	-0.83	-0.23	0.67	0.72	T
A	-0.36	0.78	0.84	-0.52	-0.6		0.63	0.09	-0.72	-0.83	A
CRM	-0.02	0.9	0.71	-0.39	-0.83	0.63		0.49	-0.75	-0.87	CRM
JPM	0.33	0.22	0.07	0.15	-0.23	0.09	0.49		0.04	-0.2	JPM
MRK	0.25	-0.89	-0.8	0.75	0.67	-0.72	-0.75	0.04		0.9	MRK
XOM	0.29	-0.94	-0.82	0.66	0.72	-0.83	-0.87	-0.2	0.9		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

CRM	+ 0.9	MSFT
XOM	+ 0.9	MRK
A	+ 0.84	UBER
UBER	+ 0.83	MSFT
A	+ 0.78	MSFT
MRK	+ 0.75	F

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.89	MSFT
XOM	- 0.87	CRM
XOM	- 0.83	A
CRM	- 0.83	T
T	- 0.83	MSFT

BetaPro SP Competition Risk-Adjusted Indicators

There is a big difference between BetaPro Etf performing well and BetaPro SP 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 SP'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	1.51	0.04	0.02	0.14	1.52	(1.74)	3.43	(2.81)	13.69
MSFT	1.31	(0.38)	0.00	(0.81)	0.00	0.00	1.90	(2.87)	13.28
UBER	1.61	(0.41)	0.00	(0.51)	0.00	0.00	2.46	(4.25)	11.09
F	1.28	0.06	0.05	0.15	1.17	(1.56)	3.61	(2.30)	7.50
T	1.03	0.18	0.07	(1.54)	0.92	(1.20)	3.87	(1.76)	7.44
A	1.26	(0.32)	0.00	(0.19)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.74	(0.43)	0.00	(0.29)	0.00	0.00	3.22	(4.75)	12.37
JPM	1.24	(0.15)	(0.05)	0.00	1.80	(1.29)	2.34	(3.11)	8.17
MRK	1.23	0.33	0.22	0.56	0.99	(1.40)	2.81	(1.98)	8.74
XOM	1.31	0.35	0.18	3.10	1.14	(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 SP 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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