Harvest MicroStrategy Correlations

MSTE Etf

3.32 0.11 3.21%

The current 90-days correlation between Harvest MicroStrategy and Harvest High Income is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Harvest MicroStrategy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest MicroStrategy Enhanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Harvest MicroStrategy Correlation With Market

Excellent diversification

The correlation between Harvest MicroStrategy Enhanced and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harvest MicroStrategy Enhanced and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Harvest Etf

0.93	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.92	BTCC	Purpose Bitcoin ETF	Pair Corr
0.92	ETHQ	3iQ Ether Staking	Pair Corr
0.74	HED	BetaPro SPTSX Capped	Pair Corr
0.92	HBLK	Blockchain Technologies	Pair Corr

Moving against Harvest Etf

0.88	BITI	BetaPro Inverse Bitcoin	Pair Corr
0.82	HXH	Global X Canadian	Pair Corr
0.81	RID	RBC Quant EAFE	Pair Corr
0.8	XDG	iShares Core MSCI	Pair Corr
0.79	EIT-UN	Canoe EIT Income	Pair Corr
0.75	HXE	Global X SPTSX	Pair Corr
0.72	HOU	BetaPro Crude Oil	Pair Corr
0.71	XDV	iShares Canadian Select	Pair Corr
0.71	PDIV	Purpose Enhanced Dividend	Pair Corr
0.7	FHE	First Trust Indxx	Pair Corr
0.69	CLF	iShares 1 5	Pair Corr
0.68	FMAE	Fidelity Multi Alt	Pair Corr
0.61	PXS	Invesco RAFI Index	Pair Corr
0.61	XINC	iShares Core Income	Pair Corr
0.6	XESG	iShares ESG Aware	Pair Corr
0.59	XMM	iShares MSCI Min	Pair Corr
0.55	ZSML	BMO SP Small	Pair Corr
0.43	BLCK	First Trust Indxx	Pair Corr
0.39	HURA	Global X Uranium	Pair Corr
0.37	SBT	Silver Bullion Trust	Pair Corr
0.36	SVR-C	iShares Silver Bullion	Pair Corr
0.35	HQD	BetaPro NASDAQ 100	Pair Corr
0.34	PREF	Quadravest Preferred	Pair Corr
0.86	CYH	iShares Global Monthly	Pair Corr
0.81	VSC	Vanguard Canadian Short	Pair Corr
0.81	PINC	Purpose Multi Asset	Pair Corr
0.78	UMI	CI MidCap Dividend	Pair Corr
0.76	QDX	Mackenzie International	Pair Corr
0.76	PSB	Invesco 1 5	Pair Corr
0.75	VCB	Vanguard Canadian	Pair Corr
0.75	HEU	BetaPro SP TSX	Pair Corr
0.75	VSB	Vanguard Canadian Short	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	-0.21	0.24	0.18	-0.35	-0.04	0.32	0.22	0.28	META
MSFT	-0.19		0.84	-0.63	-0.85	0.8	0.92	0.29	-0.89	-0.94	MSFT
UBER	-0.21	0.84		-0.55	-0.76	0.88	0.75	0.16	-0.8	-0.83	UBER
F	0.24	-0.63	-0.55		0.37	-0.56	-0.45	0.04	0.75	0.68	F
T	0.18	-0.85	-0.76	0.37		-0.64	-0.84	-0.26	0.72	0.74	T
A	-0.35	0.8	0.88	-0.56	-0.64		0.64	0.13	-0.74	-0.83	A
CRM	-0.04	0.92	0.75	-0.45	-0.84	0.64		0.51	-0.79	-0.88	CRM
JPM	0.32	0.29	0.16	0.04	-0.26	0.13	0.51		-0.05	-0.26	JPM
MRK	0.22	-0.89	-0.8	0.75	0.72	-0.74	-0.79	-0.05		0.91	MRK
XOM	0.28	-0.94	-0.83	0.68	0.74	-0.83	-0.88	-0.26	0.91		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	+ 0.92	MSFT
XOM	+ 0.91	MRK
A	+ 0.88	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
CRM	+ 0.75	UBER

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.89	MSFT
XOM	- 0.88	CRM
T	- 0.85	MSFT
CRM	- 0.84	T
XOM	- 0.83	A

Harvest MicroStrategy Competition Risk-Adjusted Indicators

There is a big difference between Harvest Etf performing well and Harvest MicroStrategy 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 Harvest MicroStrategy'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	1.53	0.21	0.03	(0.41)	1.51	(1.75)	3.43	(2.81)	13.69
MSFT	1.31	(0.30)	0.00	(0.57)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.22)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.25	0.14	0.11	0.26	0.96	(1.56)	3.61	(1.98)	7.50
T	1.04	0.14	0.02	(1.11)	0.99	(1.21)	3.87	(1.76)	7.44
A	1.26	(0.24)	0.00	(0.95)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.78	(0.29)	0.00	(0.14)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.24	(0.13)	(0.03)	0.03	1.76	(1.30)	2.34	(3.11)	8.17
MRK	1.26	0.28	0.17	0.52	1.11	(1.40)	2.81	(2.06)	8.74
XOM	1.29	0.36	0.18	3.96	1.09	(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 Harvest MicroStrategy 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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