Hamilton Mid Correlations

HUM Etf

CAD 36.24 0.52 1.41%

The current 90-days correlation between Hamilton Mid Cap and BMO Money Market is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Mid moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Mid Cap Financials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Mid Correlation With Market

Very poor diversification

The correlation between Hamilton Mid Cap Financials and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Mid Cap Financials and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hamilton Mid 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 Mid 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 Mid - 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 Mid Cap Financials to buy it.

Moving together with Hamilton Etf

0.9	ZEB	BMO SPTSX Equal	Pair Corr
0.92	XFN	iShares SPTSX Capped	Pair Corr
0.91	ZBK	BMO Equal Weight	Pair Corr
0.91	HCA	Hamilton Canadian Bank	Pair Corr
0.9	ZUB	BMO Equal Weight	Pair Corr
0.88	FSF	CI Global Financial	Pair Corr
0.91	ZWK	BMO Covered Call	Pair Corr
0.76	FLI	CI Canada Lifeco	Pair Corr
0.77	CEW	iShares Equal Weight	Pair Corr
0.84	XIU	iShares SPTSX 60	Pair Corr
0.74	XSP	iShares Core SP	Pair Corr
0.81	XIC	iShares Core SPTSX	Pair Corr
0.81	ZCN	BMO SPTSX Capped	Pair Corr
0.75	GCTB	Guardian Ultra Short	Pair Corr
0.71	AMAX	Hamilton Gold Producer	Pair Corr
0.82	HXU	BetaPro SP TSX	Pair Corr
0.72	PDIV	Purpose Enhanced Dividend	Pair Corr
0.67	RAAA	Corton Enhanced Income	Pair Corr
0.78	CPD	iShares SPTSX Canadian	Pair Corr
0.73	NHYB	NBI High Yield	Pair Corr
0.79	ATSX	Accelerate Canadian Long	Pair Corr
0.73	DXBG	Dynamic Global Fixed	Pair Corr

Moving against Hamilton Etf

0.59

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	QUU	PSA	ZCS	HXT	XSEM	ZUE	XQQ	VDY	TPU	ZMMK
QUU		0.13	0.05	0.37	0.23	0.66	0.76	0.0	0.99	0.14	QUU
PSA	0.13		0.77	0.66	0.82	0.58	0.16	0.72	0.12	1.0	PSA
ZCS	0.05	0.77		0.67	0.88	0.47	-0.04	0.81	0.05	0.78	ZCS
HXT	0.37	0.66	0.67		0.76	0.81	0.41	0.85	0.36	0.66	HXT
XSEM	0.23	0.82	0.88	0.76		0.59	0.16	0.78	0.21	0.82	XSEM
ZUE	0.66	0.58	0.47	0.81	0.59		0.8	0.63	0.65	0.59	ZUE
XQQ	0.76	0.16	-0.04	0.41	0.16	0.8		0.11	0.76	0.17	XQQ
VDY	0.0	0.72	0.81	0.85	0.78	0.63	0.11		-0.02	0.74	VDY
TPU	0.99	0.12	0.05	0.36	0.21	0.65	0.76	-0.02		0.12	TPU
ZMMK	0.14	1.0	0.78	0.66	0.82	0.59	0.17	0.74	0.12		ZMMK
	QUU	PSA	ZCS	HXT	XSEM	ZUE	XQQ	VDY	TPU	ZMMK

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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

ZMMK	+ 1.0	PSA
TPU	+ 0.99	QUU
XSEM	+ 0.88	ZCS
VDY	+ 0.85	HXT
XSEM	+ 0.82	PSA
ZMMK	+ 0.82	XSEM

High negative correlations

XQQ	- 0.04	ZCS
TPU	- 0.02	VDY
VDY	- 0.0	QUU

Hamilton Mid Constituents Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Mid 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 Mid'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
QUU	0.58	(0.08)	0.00	(0.09)	0.00	0.00	1.11	(1.49)	3.35
PSA	0.01	0.00	(2.80)	0.67	0.00	(0.03)	0.04	(0.02)	0.06
ZCS	0.07	0.00	(0.37)	0.13	0.00	(0.09)	0.14	(0.14)	0.57
HXT	0.59	0.08	0.04	0.25	0.78	(0.61)	1.18	(1.41)	4.05
XSEM	0.65	0.09	0.05	0.30	0.67	(0.74)	1.67	(1.47)	4.29
ZUE	0.54	(0.05)	0.00	(0.03)	0.00	0.00	0.98	(1.54)	3.51
XQQ	0.77	(0.10)	0.00	(0.10)	0.00	0.00	1.38	(1.90)	4.76
VDY	0.42	0.13	0.13	0.69	0.30	(0.45)	0.91	(1.03)	2.24
TPU	0.58	(0.09)	0.00	(0.10)	0.00	0.00	1.04	(1.25)	3.64
ZMMK	0.01	0.00	(2.84)	0.31	0.00	(0.02)	0.04	(0.02)	0.08

Be your own money manager

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