Purpose Multi Correlations

PMM Etf

CAD 27.09 0.14 0.51%

The current 90-days correlation between Purpose Multi Strategy and Invesco RAFI Index is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purpose Multi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Multi Strategy Market moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purpose Multi Correlation With Market

Very weak diversification

The correlation between Purpose Multi Strategy Market and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Multi Strategy Market and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Purpose Multi 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 Multi 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 Multi - 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 Multi Strategy Market to buy it.

Moving together with Purpose Etf

0.63	ZAG	BMO Aggregate Bond	Pair Corr
0.64	XBB	iShares Canadian Universe	Pair Corr
0.76	ZCON	BMO Conservative ETF	Pair Corr
0.61	XEU	iShares MSCI Europe	Pair Corr
0.71	XSTB	iShares ESG Aware	Pair Corr
0.77	HAZ	Global X Active	Pair Corr
0.62	VAB	Vanguard Canadian	Pair Corr
0.65	FLUS	Franklin Large Cap	Pair Corr
0.68	TERM	Manulife Smart Short	Pair Corr

Related Correlations Analysis

	EQCL	HDGE	HIG	ZXM	UDA	FHQ	GCNS	TGGR	PXS
EQCL		-0.22	0.57	0.83	0.66	0.37	0.42	0.78	0.9	EQCL
HDGE	-0.22		0.24	-0.13	-0.03	-0.34	0.06	-0.26	-0.24	HDGE
HIG	0.57	0.24		0.53	0.41	-0.29	0.12	0.43	0.54	HIG
ZXM	0.83	-0.13	0.53		0.63	0.1	0.14	0.6	0.92	ZXM
UDA	0.66	-0.03	0.41	0.63		0.35	0.37	0.55	0.68	UDA
FHQ	0.37	-0.34	-0.29	0.1	0.35		0.61	0.39	0.24	FHQ
GCNS	0.42	0.06	0.12	0.14	0.37	0.61		0.2	0.33	GCNS
TGGR	0.78	-0.26	0.43	0.6	0.55	0.39	0.2		0.68	TGGR
PXS	0.9	-0.24	0.54	0.92	0.68	0.24	0.33	0.68		PXS
	EQCL	HDGE	HIG	ZXM	UDA	FHQ	GCNS	TGGR	PXS

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

PXS	+ 0.92	ZXM
PXS	+ 0.9	EQCL
ZXM	+ 0.83	EQCL
TGGR	+ 0.78	EQCL
PXS	+ 0.68	UDA
PXS	+ 0.68	TGGR

High negative correlations

FHQ	- 0.34	HDGE
FHQ	- 0.29	HIG
TGGR	- 0.26	HDGE
PXS	- 0.24	HDGE
HDGE	- 0.22	EQCL
ZXM	- 0.13	HDGE

Purpose Multi Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose Multi 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 Multi'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
EQCL	0.55	0.01	(0.02)	0.05	0.69	(0.56)	1.23	(1.16)	3.03
HDGE	0.57	0.01	(0.05)	(0.04)	0.74	(0.66)	1.35	(1.00)	5.45
HIG	0.70	0.03	0.01	0.12	0.96	(0.72)	1.76	(1.38)	5.48
ZXM	0.57	0.14	0.18	0.33	0.36	(0.70)	1.66	(0.87)	3.40
UDA	0.85	(0.01)	(0.05)	(0.50)	1.05	(0.90)	1.86	(1.85)	4.55
FHQ	1.07	(0.10)	0.00	(0.24)	0.00	0.00	2.19	(2.71)	8.48
GCNS	0.34	(0.02)	(0.11)	(0.06)	0.43	(0.36)	0.76	(0.67)	2.07
TGGR	0.63	0.08	0.02	(0.18)	0.68	(0.73)	1.47	(1.14)	3.90
PXS	0.51	0.05	0.03	0.19	0.50	(0.52)	1.57	(1.02)	3.58

Be your own money manager

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