Manulife Multifactor Correlations

MULC Etf

CAD 59.56 0.75 1.28%

The current 90-days correlation between Manulife Multifactor and BMO SP 500 is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Manulife Multifactor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Manulife Multifactor Large moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Manulife Multifactor Correlation With Market

Very weak diversification

The correlation between Manulife Multifactor Large and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Multifactor Large and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Manulife Etf

0.82	XSP	iShares Core SP	Pair Corr
0.61	ESGY	BMO MSCI USA	Pair Corr
0.81	ZUE	BMO SP 500	Pair Corr
0.82	VSP	Vanguard SP 500	Pair Corr
0.73	HGU	BetaPro Canadian Gold	Pair Corr
0.76	HZU	BetaPro Silver 2x	Pair Corr
0.74	ZGD	BMO Equal Weight	Pair Corr
0.68	HFU	BetaPro SPTSX Capped	Pair Corr
0.75	ZJG	BMO Junior Gold	Pair Corr
0.61	MNS	Royal Canadian Mint	Pair Corr
0.83	MBAL	Mackenzie Balanced	Pair Corr
0.86	XEH	iShares MSCI Europe	Pair Corr
0.82	FCVH	Fidelity Value Currency	Pair Corr
0.68	ONEC	Accelerate OneChoice	Pair Corr
0.71	FSR	First Trust Morningstar	Pair Corr
0.77	RCD	RBC Quant Canadian	Pair Corr
0.67	WSRD	Wealthsimple Developed	Pair Corr
0.79	PIN	Purpose Monthly Income	Pair Corr
0.73	CUD	iShares Dividend Growers	Pair Corr
0.79	THU	TD Equity CAD	Pair Corr
0.75	EIT-UN	Canoe EIT Income	Pair Corr
0.65	THE	TD International Equity	Pair Corr
0.67	UDIV-B	Manulife Smart Dividend	Pair Corr

Related Correlations Analysis

	ZSP	VFV	HXS	XUS	ESGY	ZUE	VSP	ZQQ	XQQ
ZSP		1.0	0.99	1.0	0.94	0.8	0.8	0.79	0.82	ZSP
VFV	1.0		1.0	1.0	0.94	0.81	0.8	0.78	0.81	VFV
HXS	0.99	1.0		1.0	0.94	0.8	0.8	0.78	0.81	HXS
XUS	1.0	1.0	1.0		0.94	0.8	0.79	0.78	0.81	XUS
ESGY	0.94	0.94	0.94	0.94		0.82	0.82	0.73	0.77	ESGY
ZUE	0.8	0.81	0.8	0.8	0.82		1.0	0.8	0.83	ZUE
VSP	0.8	0.8	0.8	0.79	0.82	1.0		0.8	0.84	VSP
ZQQ	0.79	0.78	0.78	0.78	0.73	0.8	0.8		0.99	ZQQ
XQQ	0.82	0.81	0.81	0.81	0.77	0.83	0.84	0.99		XQQ
	ZSP	VFV	HXS	XUS	ESGY	ZUE	VSP	ZQQ	XQQ

Manulife Multifactor Constituents Risk-Adjusted Indicators

There is a big difference between Manulife Etf performing well and Manulife Multifactor 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 Manulife Multifactor'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
ZSP	0.55	(0.01)	(0.09)	0.07	0.68	(0.57)	1.20	(1.24)	3.17
VFV	0.55	(0.01)	(0.09)	0.06	0.67	(0.55)	1.19	(1.25)	3.11
HXS	0.55	(0.01)	(0.09)	0.06	0.75	(0.54)	1.23	(1.19)	3.70
XUS	0.55	(0.01)	(0.09)	0.06	0.71	(0.57)	1.20	(1.25)	3.45
ESGY	0.58	0.01	(0.08)	0.12	0.64	(0.66)	1.39	(1.20)	3.77
ZUE	0.55	0.00	(0.07)	0.08	0.76	(0.52)	1.19	(1.17)	3.47
VSP	0.54	0.00	(0.07)	0.09	0.73	(0.50)	1.09	(1.18)	3.21
ZQQ	0.77	(0.05)	(0.08)	0.01	1.08	(0.74)	1.43	(1.91)	4.62
XQQ	0.79	(0.03)	(0.06)	0.04	1.11	(0.75)	1.45	(1.93)	4.63

Be your own money manager

Our tools can tell you how much better you can do entering a position in Manulife Multifactor 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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