Ninepoint Global Correlations
| INFR Fund | 19.52 0.10 0.51% |
The current 90-days correlation between Ninepoint Global Inf and Edgepoint Cdn Growth is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ninepoint Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Global Infrastructure moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Ninepoint Global Correlation With Market
Good diversification
The correlation between Ninepoint Global Infrastructur and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ninepoint Global Infrastructur and DJI in the same portfolio, assuming nothing else is changed.
Ninepoint |
The ability to find closely correlated positions to Ninepoint Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ninepoint Global 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 Ninepoint Global - 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 Ninepoint Global Infrastructure to buy it.
Moving against Ninepoint Fund
| 0.78 | 0P000072KJ | RBC Canadian Dividend | PairCorr |
| 0.73 | 0P0000S9O5 | PIMCO Monthly Income | PairCorr |
| 0.68 | 0P0000S9O7 | PIMCO Monthly Income | PairCorr |
| 0.57 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.56 | 0P0000WJMR | IG Mackenzie Dividend | PairCorr |
| 0.33 | 0P00007069 | RBC Portefeuille | PairCorr |
Related Correlations Analysis
| 0.6 | -0.35 | 0.21 | -0.29 | 0.63 | 0P0000JO4R | ||
| 0.6 | -0.18 | 0.32 | 0.03 | 0.79 | 0P0001GZLR | ||
| -0.35 | -0.18 | 0.73 | 0.6 | -0.65 | NBSC | ||
| 0.21 | 0.32 | 0.73 | 0.26 | -0.15 | MFC650 | ||
| -0.29 | 0.03 | 0.6 | 0.26 | -0.28 | 0P0000WJLC | ||
| 0.63 | 0.79 | -0.65 | -0.15 | -0.28 | 0P00016N6E | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Ninepoint Fund performing well and Ninepoint Global Fund 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 Ninepoint Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0P0000JO4R | 0.49 | 0.01 | (0.08) | 1.86 | 0.80 | 0.71 | 7.88 | |||
| 0P0001GZLR | 0.89 | 0.12 | 0.03 | 1.95 | 1.08 | 1.65 | 5.05 | |||
| NBSC | 0.70 | (0.08) | 0.00 | (0.43) | 0.00 | 1.19 | 4.78 | |||
| MFC650 | 0.48 | (0.03) | 0.00 | 7.19 | 0.00 | 0.97 | 2.98 | |||
| 0P0000WJLC | 0.75 | (0.01) | (0.06) | 0.01 | 1.24 | 1.51 | 4.54 | |||
| 0P00016N6E | 0.46 | 0.08 | (0.01) | (5.24) | 0.53 | 1.02 | 2.71 |
Ninepoint Global Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Ninepoint Global fund to make a market-neutral strategy. Peer analysis of Ninepoint Global could also be used in its relative valuation, which is a method of valuing Ninepoint Global by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |