Purpose Total Correlations

PBD Etf

CAD 16.56 0.01 0.06%

The current 90-days correlation between Purpose Total Return and Harvest Clean Energy is 0.22 (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

Good diversification

The correlation between Purpose Total Return and DJI is -0.08 (i.e., Good 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

0.66

XSI

iShares Short Term

Pair Corr

Related Correlations Analysis

	HCLN	PIN	RPDH	DRFG	BLOV	ZWQT	CNCL	PHR	ZZZD	BGC
HCLN		-0.17	-0.2	-0.1	-0.44	-0.15	-0.25	0.18	-0.2	-0.24	HCLN
PIN	-0.17		0.88	0.81	0.78	0.88	0.88	-0.41	0.5	0.64	PIN
RPDH	-0.2	0.88		0.91	0.72	0.93	0.94	-0.54	0.38	0.64	RPDH
DRFG	-0.1	0.81	0.91		0.64	0.94	0.89	-0.38	0.34	0.61	DRFG
BLOV	-0.44	0.78	0.72	0.64		0.76	0.73	-0.57	0.63	0.27	BLOV
ZWQT	-0.15	0.88	0.93	0.94	0.76		0.93	-0.48	0.44	0.56	ZWQT
CNCL	-0.25	0.88	0.94	0.89	0.73	0.93		-0.5	0.34	0.69	CNCL
PHR	0.18	-0.41	-0.54	-0.38	-0.57	-0.48	-0.5		-0.1	0.06	PHR
ZZZD	-0.2	0.5	0.38	0.34	0.63	0.44	0.34	-0.1		0.14	ZZZD
BGC	-0.24	0.64	0.64	0.61	0.27	0.56	0.69	0.06	0.14		BGC
	HCLN	PIN	RPDH	DRFG	BLOV	ZWQT	CNCL	PHR	ZZZD	BGC

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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

CNCL	+ 0.94	RPDH
ZWQT	+ 0.94	DRFG
ZWQT	+ 0.93	RPDH
CNCL	+ 0.93	ZWQT
DRFG	+ 0.91	RPDH
CNCL	+ 0.89	DRFG

High negative correlations

PHR	- 0.57	BLOV
PHR	- 0.54	RPDH
PHR	- 0.5	CNCL
PHR	- 0.48	ZWQT
BLOV	- 0.44	HCLN
PHR	- 0.41	PIN

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
HCLN	1.46	0.12	0.05	0.24	1.74	(1.62)	4.27	(3.04)	10.32
PIN	0.23	0.02	(0.08)	0.37	0.22	(0.27)	0.58	(0.48)	1.66
RPDH	0.46	0.13	0.15	0.67	0.19	(0.60)	1.41	(0.62)	3.60
DRFG	0.50	0.04	0.02	0.16	0.53	(0.61)	1.16	(1.12)	3.08
BLOV	0.34	0.02	(0.06)	0.91	0.43	(0.37)	0.66	(0.81)	2.48
ZWQT	0.39	0.05	0.00	0.27	0.37	(0.50)	0.91	(0.60)	2.71
CNCL	0.54	0.07	0.05	0.26	0.56	(0.63)	1.21	(1.20)	2.76
PHR	0.46	(0.03)	0.00	(0.18)	0.00	0.00	0.83	(0.96)	3.24
ZZZD	0.38	0.02	(0.08)	(0.08)	0.50	(0.43)	0.93	(0.88)	3.26
BGC	0.56	0.07	0.01	(1.70)	0.71	(0.62)	1.70	(1.30)	4.02

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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