Mackenzie Global Correlations
| MGAB Etf | CAD 16.97 0.00 0.00% |
The current 90-days correlation between Mackenzie Global Fixed and Franklin Global Aggregate is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mackenzie Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Global Fixed moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Mackenzie Global Correlation With Market
Significant diversification
The correlation between Mackenzie Global Fixed and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mackenzie Global Fixed and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Mackenzie 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 Mackenzie 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 Mackenzie 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 Mackenzie Global Fixed to buy it.
Related Correlations Analysis
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Our tools can tell you how much better you can do entering a position in Mackenzie Global 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?
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