Mackenzie Canadian Correlations

MCSB Etf

CAD 20.03 0.01 0.05%

The current 90-days correlation between Mackenzie Canadian Short and Invesco RAFI Index is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mackenzie Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Canadian Short moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mackenzie Canadian Correlation With Market

Modest diversification

The correlation between Mackenzie Canadian Short and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mackenzie Canadian Short and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Mackenzie Etf

0.81	XSB	iShares Canadian Short	Pair Corr
0.72	XSH	iShares Core Canadian	Pair Corr
0.74	ZCS	BMO Short Corporate	Pair Corr
0.8	VSB	Vanguard Canadian Short	Pair Corr
0.78	CBO	iShares 1 5	Pair Corr
0.76	PSB	Invesco 1 5	Pair Corr
0.77	CLF	iShares 1 5	Pair Corr
0.78	ZFS	BMO Short Federal	Pair Corr

Related Correlations Analysis

	DIVS	ZVC	XVLU	EDGF	HUZ	LLHE	FCRR	HIG	EARN	PXS
DIVS		0.86	0.87	0.87	0.87	0.54	-0.75	0.45	0.87	0.78	DIVS
ZVC	0.86		0.93	0.8	0.94	0.7	-0.6	0.66	0.83	0.87	ZVC
XVLU	0.87	0.93		0.92	0.93	0.52	-0.61	0.54	0.87	0.94	XVLU
EDGF	0.87	0.8	0.92		0.87	0.29	-0.62	0.36	0.86	0.86	EDGF
HUZ	0.87	0.94	0.93	0.87		0.53	-0.69	0.54	0.89	0.86	HUZ
LLHE	0.54	0.7	0.52	0.29	0.53		-0.39	0.85	0.48	0.48	LLHE
FCRR	-0.75	-0.6	-0.61	-0.62	-0.69	-0.39		-0.3	-0.82	-0.46	FCRR
HIG	0.45	0.66	0.54	0.36	0.54	0.85	-0.3		0.49	0.57	HIG
EARN	0.87	0.83	0.87	0.86	0.89	0.48	-0.82	0.49		0.8	EARN
PXS	0.78	0.87	0.94	0.86	0.86	0.48	-0.46	0.57	0.8		PXS
	DIVS	ZVC	XVLU	EDGF	HUZ	LLHE	FCRR	HIG	EARN	PXS

Please upgrade your account to get full access to Macroaxis premium features

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

HUZ	+ 0.94	ZVC
PXS	+ 0.94	XVLU
XVLU	+ 0.93	ZVC
HUZ	+ 0.93	XVLU
EDGF	+ 0.92	XVLU
EARN	+ 0.89	HUZ

High negative correlations

EARN	- 0.82	FCRR
FCRR	- 0.75	DIVS
FCRR	- 0.69	HUZ
FCRR	- 0.62	EDGF
FCRR	- 0.61	XVLU
FCRR	- 0.6	ZVC

Mackenzie Canadian Constituents Risk-Adjusted Indicators

There is a big difference between Mackenzie Etf performing well and Mackenzie Canadian 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 Mackenzie Canadian'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
DIVS	0.25	0.03	(0.09)	0.36	0.21	(0.29)	0.63	(0.57)	1.95
ZVC	0.47	0.15	0.17	0.72	0.14	(0.55)	1.20	(0.80)	2.73
XVLU	0.75	0.14	0.09	0.45	0.71	(0.87)	1.85	(1.58)	4.56
EDGF	0.54	0.06	0.03	0.21	0.45	(0.77)	1.38	(1.06)	3.96
HUZ	2.57	1.26	0.51	2.58	1.74	(3.27)	6.72	(3.28)	12.25
LLHE	1.58	0.28	0.13	0.55	1.63	(1.69)	3.90	(3.34)	8.59
FCRR	0.59	(0.06)	0.00	(0.06)	0.00	0.00	1.09	(1.23)	6.88
HIG	0.67	0.04	0.00	0.16	0.81	(0.71)	1.78	(1.16)	4.97
EARN	0.15	0.01	(0.19)	0.39	0.14	(0.17)	0.31	(0.28)	2.03
PXS	0.51	0.03	(0.01)	0.13	0.48	(0.52)	1.57	(0.97)	3.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mackenzie Canadian 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.

Did you try this?

Run Portfolio Suggestion Now

Portfolio Suggestion

Get suggestions outside of your existing asset allocation including your own model portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC