Ninepoint Balanced Correlations
| NBAL Fund | 22.00 0.18 0.82% |
The current 90-days correlation between Ninepoint Balanced and RBC Select Balanced is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ninepoint Balanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Balanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Ninepoint Balanced Correlation With Market
Good diversification
The correlation between Ninepoint Balanced and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ninepoint Balanced and DJI in the same portfolio, assuming nothing else is changed.
Ninepoint |
The ability to find closely correlated positions to Ninepoint Balanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ninepoint Balanced 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 Ninepoint Balanced - 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 Ninepoint Balanced to buy it.
Moving together with Ninepoint Fund
| 0.69 | 0P0000S9O7 | PIMCO Monthly Income | PairCorr |
| 0.76 | 0P000072KJ | RBC Canadian Dividend | PairCorr |
| 0.64 | 0P0000WJMR | IG Mackenzie Dividend | PairCorr |
| 0.65 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
Related Correlations Analysis
| 0.54 | 0.52 | 0.41 | 0.76 | 0.62 | 0.55 | 0P0000706A | ||
| 0.54 | 0.54 | 0.87 | 0.76 | 0.86 | 0.84 | 0P0000S9O7 | ||
| 0.52 | 0.54 | 0.66 | 0.52 | 0.69 | 0.64 | 0P0000S9O5 | ||
| 0.41 | 0.87 | 0.66 | 0.61 | 0.91 | 0.89 | 0P000072KJ | ||
| 0.76 | 0.76 | 0.52 | 0.61 | 0.84 | 0.76 | 0P00007069 | ||
| 0.62 | 0.86 | 0.69 | 0.91 | 0.84 | 0.94 | 0P0000WJMR | ||
| 0.55 | 0.84 | 0.64 | 0.89 | 0.76 | 0.94 | 0P0000IUYO | ||
Risk-Adjusted Indicators
There is a big difference between Ninepoint Fund performing well and Ninepoint Balanced Fund 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 Ninepoint Balanced'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0P0000706A | 0.33 | 0.03 | (0.12) | 0.50 | 0.32 | 0.70 | 1.66 | |||
| 0P0000S9O7 | 0.13 | 0.02 | (0.35) | 0.54 | 0.00 | 0.32 | 0.79 | |||
| 0P0000S9O5 | 0.12 | 0.02 | (0.34) | 0.64 | 0.00 | 0.24 | 0.72 | |||
| 0P000072KJ | 0.41 | 0.05 | (0.01) | 0.25 | 0.42 | 0.87 | 2.37 | |||
| 0P00007069 | 0.41 | 0.01 | (0.08) | 0.11 | 0.42 | 0.85 | 2.01 | |||
| 0P0000WJMR | 0.40 | 0.02 | (0.07) | 0.15 | 0.40 | 0.75 | 2.08 | |||
| 0P0000IUYO | 0.50 | 0.07 | 0.03 | 0.24 | 0.28 | 1.22 | 2.45 |
Ninepoint Balanced Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Ninepoint Balanced fund to make a market-neutral strategy. Peer analysis of Ninepoint Balanced could also be used in its relative valuation, which is a method of valuing Ninepoint Balanced by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |