CI First Correlations

Etfs . Canada . 
Etf . CI First Asset
MXF Etf  CAD 24.89  0.04  0.16%   
The current 90-days correlation between CI First Asset and iShares Dividend Growers is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CI First moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CI First Asset moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CI First Correlation With Market

Poor diversification

The correlation between CI First Asset and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CI First Asset and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CI First could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CI First 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 CI First - 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 CI First Asset to buy it.

Moving together with MXF Etf

  0.92XMA iShares SPTSX CappedPairCorr
  0.92XBM iShares SPTSX GlobalPairCorr
  0.93ZMT BMO SPTSX EqualPairCorr
  0.83HBGD Global X BigPairCorr
  0.64ZUB BMO Equal WeightPairCorr
  0.65CALL Evolve Banks EnhancedPairCorr
  0.61ZWK BMO Covered CallPairCorr
  0.69CALL-B Evolve Banks EnhancedPairCorr
  0.87VCN Vanguard FTSE CanadaPairCorr
  0.88PDIV Purpose Enhanced DividendPairCorr
  0.82RID RBC Quant EAFEPairCorr
  0.89DXCP Dynamic Short TermPairCorr
  0.91GBUL Ninepoint Gold BullionPairCorr
  0.9DXAU Dynamic Active GlobalPairCorr
  0.88XESG iShares ESG AwarePairCorr
  0.92COPP Global X CopperPairCorr
  0.84PINC Purpose Multi AssetPairCorr
  0.84PFIN PICTON IncomePairCorr
  0.87XSEM iShares ESG AwarePairCorr
  0.84PINV Purpose Global InnovatorsPairCorr
  0.81XRE iShares SPTSX CappedPairCorr
  0.87XVLU iShares MSCI USAPairCorr
  0.72OILU SavvyLong Geared CrudePairCorr
  0.7HEU BetaPro SP TSXPairCorr
  0.66CLF iShares 1 5PairCorr
  0.92MCSM Manulife MultifactorPairCorr
  0.87RPDH RBC Quant EuropeanPairCorr
  0.68BANK Evolve Canadian BanksPairCorr
  0.86THE TD International EquityPairCorr
  0.82XMM iShares MSCI MinPairCorr
  0.83FMAE Fidelity Multi AltPairCorr

Moving against MXF Etf

  0.45CBCX CI Galaxy BlockchainPairCorr
  0.4HBLK Blockchain TechnologiesPairCorr

Related Correlations Analysis


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

XDSR
+ 0.96
FCCD
XDSR
+ 0.96
XEH
XEH
+ 0.95
FCCD
XEH
+ 0.92
BKCC
FCCD
+ 0.87
BKCC
XDSR
+ 0.86
BKCC
  

High negative correlations

VRE
- 0.41
RCD
VRE
- 0.35
XUT
USCL
- 0.2
XUT
CUD
- 0.19
USCL
XEH
- 0.19
RCD
USCL
- 0.18
RCD

CI First Constituents Risk-Adjusted Indicators

There is a big difference between MXF Etf performing well and CI First 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 CI First'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
XUT  0.41  0.08 (0.07)(0.41) 0.68 
(0.42)
 0.79 
(0.59)
 4.15 
XCNS  0.27  0.00 (0.16) 0.12  0.34 
(0.27)
 0.55 
(0.74)
 1.68 
BKCC  0.47  0.13  0.11  0.47  0.19 
(0.56)
 1.01 
(0.85)
 2.82 
RCD  0.67  0.01 (0.02) 0.14  1.87 
(0.58)
 1.15 
(1.61)
 9.04 
FCCD  0.38  0.15  0.09  0.84  0.30 
(0.44)
 0.89 
(0.87)
 2.54 
XEH  0.43  0.11  0.09  0.36  0.18 
(0.50)
 1.20 
(0.81)
 2.38 
VRE  0.58 (0.02)(0.10) 0.07  0.86 
(0.56)
 1.27 
(1.34)
 5.58 
USCL  0.54 (0.03)(0.11) 0.06  0.60 
(0.64)
 1.26 
(1.09)
 4.12 
XDSR  0.53  0.08  0.04  0.25  0.40 
(0.59)
 1.07 
(0.87)
 3.05 
CUD  0.56  0.05 (0.02) 0.26  0.82 
(0.62)
 1.43 
(0.91)
 6.13 

Be your own money manager

Our tools can tell you how much better you can do entering a position in CI First 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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