Manulife Multifactor Correlations

MUSC Etf

37.64 0.45 1.18%

The current 90-days correlation between Manulife Multifactor and CI Global Real is -0.1 (i.e., Good 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 Small moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Manulife Multifactor Correlation With Market

Poor diversification

The correlation between Manulife Multifactor Small and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manulife Multifactor Small 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 Small to buy it.

Moving together with Manulife Etf

0.78	XSU	iShares Small Cap	Pair Corr
0.73	XMC	iShares SP Mid	Pair Corr
0.8	XMH	iShares SP Mid	Pair Corr
0.77	UMI	CI MidCap Dividend	Pair Corr
0.78	MUMC	Manulife Multifactor Mid	Pair Corr
0.79	XSMH	iShares SP Small	Pair Corr
0.77	FHF	First Trust Nasdaq	Pair Corr
0.75	FTN	Financial 15 Split Split	Pair Corr
0.75	DRFG	Desjardins RI Global	Pair Corr
0.89	HAC	Global X Seasonal	Pair Corr
0.9	QDX	Mackenzie International	Pair Corr
0.73	QCE	Mackenzie Canadian Large	Pair Corr
0.79	QCN	Mackenzie Canadian Equity	Pair Corr
0.74	XSMC	iShares SP Small	Pair Corr

Related Correlations Analysis

	EBNK	LONG	NRGD	ATSX	PRP	SLVD	FOUR	GLDD	CGRA
EBNK		0.0	-0.64	0.91	0.84	-0.97	-0.04	-0.92	0.12	EBNK
LONG	0.0		-0.06	0.02	0.12	-0.01	0.36	0.02	0.22	LONG
NRGD	-0.64	-0.06		-0.66	-0.86	0.65	0.34	0.78	-0.62	NRGD
ATSX	0.91	0.02	-0.66		0.87	-0.95	-0.11	-0.9	0.12	ATSX
PRP	0.84	0.12	-0.86	0.87		-0.87	-0.24	-0.91	0.43	PRP
SLVD	-0.97	-0.01	0.65	-0.95	-0.87		0.05	0.94	-0.1	SLVD
FOUR	-0.04	0.36	0.34	-0.11	-0.24	0.05		0.07	0.02	FOUR
GLDD	-0.92	0.02	0.78	-0.9	-0.91	0.94	0.07		-0.34	GLDD
CGRA	0.12	0.22	-0.62	0.12	0.43	-0.1	0.02	-0.34		CGRA
	EBNK	LONG	NRGD	ATSX	PRP	SLVD	FOUR	GLDD	CGRA

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

GLDD	+ 0.94	SLVD
ATSX	+ 0.91	EBNK
PRP	+ 0.87	ATSX
PRP	+ 0.84	EBNK
GLDD	+ 0.78	NRGD
SLVD	+ 0.65	NRGD

High negative correlations

SLVD	- 0.97	EBNK
SLVD	- 0.95	ATSX
GLDD	- 0.92	EBNK
GLDD	- 0.91	PRP
GLDD	- 0.9	ATSX
SLVD	- 0.87	PRP

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
EBNK	0.82	0.22	0.18	0.57	0.75	(0.91)	2.03	(1.32)	4.84
LONG	0.66	(0.04)	0.00	(1.15)	0.00	0.00	1.36	(1.50)	4.33
NRGD	2.11	(0.59)	0.00	(3.73)	0.00	0.00	3.03	(4.72)	13.84
ATSX	0.92	0.19	0.12	0.43	1.02	(1.05)	2.19	(1.45)	7.94
PRP	0.21	0.04	(0.07)	(17.04)	0.09	(0.24)	0.50	(0.40)	1.39
SLVD	6.20	(2.26)	0.00	1.59	0.00	0.00	7.70	(13.08)	62.09
FOUR	1.07	(0.21)	0.00	(0.20)	0.00	0.00	1.94	(3.27)	5.73
GLDD	2.28	(0.64)	0.00	2.04	0.00	0.00	3.97	(5.18)	30.84
CGRA	0.18	0.02	0.00	0.20	0.00	0.00	0.65	(0.51)	2.94

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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