NBI Target Correlations

NTGA Etf

10.13 0.00 0.00%

The current 90-days correlation between NBI Target 2026 and BetaPro SPTSX 60 is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NBI Target moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NBI Target 2026 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NBI Target Correlation With Market

Very poor diversification

The correlation between NBI Target 2026 and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NBI Target 2026 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NBI Target 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 Target 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 Target - 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 Target 2026 to buy it.

Moving together with NBI Etf

0.82	XIU	iShares SPTSX 60	Pair Corr
0.66	XSP	iShares Core SP	Pair Corr
0.87	XIC	iShares Core SPTSX	Pair Corr
0.87	ZCN	BMO SPTSX Capped	Pair Corr
0.84	ZEB	BMO SPTSX Equal	Pair Corr
0.92	UDIV	Manulife Smart Dividend	Pair Corr
0.67	XSTB	iShares ESG Aware	Pair Corr
0.92	PDIV	Purpose Enhanced Dividend	Pair Corr
0.73	CPD	iShares SPTSX Canadian	Pair Corr
0.92	XEU	iShares MSCI Europe	Pair Corr
0.73	BANK	Evolve Canadian Banks	Pair Corr
0.63	CVD	iShares Convertible Bond	Pair Corr
0.74	XSB	iShares Canadian Short	Pair Corr
0.8	HXU	BetaPro SP TSX	Pair Corr
0.95	GDV	Global Dividend Growth	Pair Corr
0.68	DXN	Dynamic Active Global	Pair Corr
0.79	WSHR	Wealthsimple Shariah	Pair Corr
0.91	MINT-B	Manulife Multifactor	Pair Corr
0.86	XSH	iShares Core Canadian	Pair Corr
0.94	EIT-UN	Canoe EIT Income	Pair Corr
0.77	CTMB	CI Target 2029	Pair Corr
0.92	HAC	Global X Seasonal	Pair Corr
0.79	XEG	iShares SPTSX Capped	Pair Corr
0.82	NXF	First Asset Energy	Pair Corr
0.83	DXAU	Dynamic Active Global	Pair Corr
0.76	ZCON	BMO Conservative ETF	Pair Corr
0.86	HXX	Global X Europe	Pair Corr
0.87	DGRC	CI Canada Quality	Pair Corr
0.91	BMAX	Brompton Enhanced Multi	Pair Corr
0.66	TCLV	TD Q Canadian	Pair Corr

Moving against NBI Etf

0.42

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

NBI Target Competition Risk-Adjusted Indicators

There is a big difference between NBI Etf performing well and NBI Target 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 Target'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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

NBI Target 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 NBI Target etf to make a market-neutral strategy. Peer analysis of NBI Target could also be used in its relative valuation, which is a method of valuing NBI Target by comparing valuation metrics with similar companies.

Global X Inovestor RBC Quant European Mackenzie International Equity Evolve Automobile Innovation Global X Copper Global X Conservative Brompton European Dividend Global X Big BetaPro SPTSX 60 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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