Purpose Total Correlations

PBD Etf

CAD 16.59 0.02 0.12%

The current 90-days correlation between Purpose Total Return and CI 1 5 Year is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purpose Total moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Total Return moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purpose Total Correlation With Market

Poor diversification

The correlation between Purpose Total Return and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Total Return and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Purpose Total could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Purpose Total 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 Purpose Total - 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 Purpose Total Return to buy it.

Moving together with Purpose Etf

0.74	NUBF	NBI Unconstrained Fixed	Pair Corr
0.61	MUB	Mackenzie Unconstrained	Pair Corr
0.78	XSI	iShares Short Term	Pair Corr
0.76	BND	Purpose Global Bond	Pair Corr
0.71	HAF	Global X Active	Pair Corr
0.77	EARN	Evolve Active Global	Pair Corr
0.78	CFLX	CIBC Flexible Yield	Pair Corr
0.64	ZLC	BMO Long Corporate	Pair Corr
0.77	NMNG	Ninepoint Mining Evo	Pair Corr
0.65	ZUD	BMO Dividend Hedged	Pair Corr
0.8	XSH	iShares Core Canadian	Pair Corr
0.73	UDIV	Manulife Smart Dividend	Pair Corr
0.77	XEN	iShares Jantzi Social	Pair Corr
0.64	HAZ	Global X Active	Pair Corr
0.63	CALL	Evolve Banks Enhanced	Pair Corr
0.63	HPF	Harvest Energy Leaders	Pair Corr
0.78	GDV	Global Dividend Growth	Pair Corr
0.62	NXF	First Asset Energy	Pair Corr
0.74	AMAX	Hamilton Gold Producer	Pair Corr
0.62	ZBK	BMO Equal Weight	Pair Corr
0.68	FLUS	Franklin Large Cap	Pair Corr
0.7	CPD	iShares SPTSX Canadian	Pair Corr
0.64	XDUH	iShares Core MSCI	Pair Corr
0.79	XCNS	iShares Core Conservative	Pair Corr
0.85	ZCON	BMO Conservative ETF	Pair Corr
0.71	NHYB	NBI High Yield	Pair Corr
0.82	WSHR	Wealthsimple Shariah	Pair Corr
0.73	ZMID	BMO SP Mid	Pair Corr
0.74	TCLV	TD Q Canadian	Pair Corr

Moving against Purpose Etf

0.77	HXD	BetaPro SPTSX 60	Pair Corr
0.57	HED	BetaPro SPTSX Capped	Pair Corr
0.54	FHC	First Trust Dow	Pair Corr
0.41	HIU	BetaPro SP 500	Pair Corr

Related Correlations Analysis

	HDGE	ZXM	PXS	HIG	FHQ	XSC	PMM	XVLU	BXF
HDGE		0.15	0.06	0.48	-0.42	0.45	0.16	0.02	0.44	HDGE
ZXM	0.15		0.92	0.59	-0.01	0.83	0.66	0.97	0.71	ZXM
PXS	0.06	0.92		0.58	0.16	0.78	0.74	0.93	0.63	PXS
HIG	0.48	0.59	0.58		-0.25	0.81	0.66	0.55	0.82	HIG
FHQ	-0.42	-0.01	0.16	-0.25		-0.19	0.04	0.11	-0.38	FHQ
XSC	0.45	0.83	0.78	0.81	-0.19		0.72	0.8	0.86	XSC
PMM	0.16	0.66	0.74	0.66	0.04	0.72		0.68	0.7	PMM
XVLU	0.02	0.97	0.93	0.55	0.11	0.8	0.68		0.64	XVLU
BXF	0.44	0.71	0.63	0.82	-0.38	0.86	0.7	0.64		BXF
	HDGE	ZXM	PXS	HIG	FHQ	XSC	PMM	XVLU	BXF

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

XVLU	+ 0.97	ZXM
XVLU	+ 0.93	PXS
PXS	+ 0.92	ZXM
BXF	+ 0.86	XSC
XSC	+ 0.83	ZXM
BXF	+ 0.82	HIG

High negative correlations

FHQ	- 0.42	HDGE
BXF	- 0.38	FHQ
FHQ	- 0.25	HIG
XSC	- 0.19	FHQ
FHQ	- 0.01	ZXM

Purpose Total Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose Total 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 Purpose Total'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
HDGE	0.54	0.03	(0.06)	(0.33)	0.70	(0.63)	1.35	(0.98)	5.45
ZXM	0.57	0.14	0.17	0.35	0.30	(0.73)	1.66	(0.87)	3.40
PXS	0.51	0.07	0.03	0.34	0.41	(0.54)	1.57	(0.97)	3.58
HIG	0.69	0.00	(0.03)	0.08	0.94	(0.74)	1.76	(1.38)	5.48
FHQ	1.00	(0.06)	(0.04)	0.01	1.49	(0.99)	2.19	(2.71)	8.48
XSC	0.08	0.01	(0.45)	2.72	0.00	(0.11)	0.23	(0.17)	0.68
PMM	0.49	0.01	(0.06)	0.11	0.60	(0.52)	0.93	(1.02)	2.99
XVLU	0.80	0.18	0.15	0.39	0.65	(0.93)	2.10	(1.70)	4.56
BXF	0.11	0.00	(0.35)	1.15	0.05	(0.15)	0.20	(0.20)	0.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in Purpose Total 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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