NBI Sustainable Correlations

NSCC Etf  CAD 22.19  0.10  0.45%   
The current 90-days correlation between NBI Sustainable Canadian and iShares Floating Rate is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NBI Sustainable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI Sustainable Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NBI Sustainable Correlation With Market

Good diversification

The correlation between NBI Sustainable Canadian and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NBI Sustainable Canadian and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to NBI Sustainable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NBI Sustainable 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 NBI Sustainable - 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 NBI Sustainable Canadian to buy it.

Moving together with NBI Etf

  0.93XCB iShares Core CanadianPairCorr
  0.88ZCM BMO Mid CorporatePairCorr
  0.89HAB Global X ActivePairCorr
  0.91CBH iShares 1 10YrPairCorr
  0.79RQO RBC Target 2026PairCorr
  0.79CACB CIBC Active InvestmentPairCorr
  0.9FLCI Franklin Bissett CorPairCorr
  0.86RQP RBC Target 2027PairCorr
  0.66CXF CI Canadian ConvertiblePairCorr

Related Correlations Analysis

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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   
XHBCBH
0P0000OXA6XFR
FINCXFR
ULV-UXFR
ULV-UXHB
XHBXFR
  
High negative correlations   
0P0000OXA6ZUAG-U
SOLRXFR
ZUAG-UXFR
0P0000OXA6SOLR
ULV-USOLR
SOLRXHB

NBI Sustainable Constituents Risk-Adjusted Indicators

There is a big difference between NBI Etf performing well and NBI Sustainable 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 NBI Sustainable'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
XFR  0.03  0.00 (1.48)(1.05) 0.00 
 0.05 
 0.15 
CBH  0.14  0.00 (0.37) 0.16  0.14 
 0.39 
 1.07 
FINC  0.19  0.06  0.00 (0.39) 0.00 
 0.38 
 4.00 
ZUAG-U  0.14 (0.04) 0.00  1.66  0.00 
 0.42 
 2.35 
TNO-H  14.58  4.51  0.00 (0.44) 0.00 
 100.00 
 150.00 
XHB  0.19  0.02 (0.31)(0.58) 0.05 
 0.47 
 1.02 
EDGF  0.80  0.01 (0.03) 0.15  1.10 
 2.20 
 6.42 
SOLR  5.29  0.15  0.00 (0.02) 7.60 
 25.00 
 45.00 
0P0000OXA6  0.51  0.09  0.02  1.16  0.54 
 1.07 
 4.34 
ULV-U  0.25  0.10  0.00 (1.30) 0.00 
 0.46 
 5.13 

Be your own money manager

Our tools can tell you how much better you can do entering a position in NBI Sustainable 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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