Hamilton Technology Correlations

QMAX Etf

22.80 0.07 0.31%

The current 90-days correlation between Hamilton Technology Yield and Hamilton Equity YIELD is -0.14 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hamilton Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hamilton Technology Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hamilton Technology Correlation With Market

Very weak diversification

The correlation between Hamilton Technology Yield and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hamilton Technology Yield and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hamilton Etf

0.84	XIT	iShares SPTSX Capped	Pair Corr
0.95	TEC	TD Global Technology	Pair Corr

Moving against Hamilton Etf

0.37	XST	iShares SPTSX Capped	Pair Corr
0.37	HEP	Global X Enhanced	Pair Corr
0.36	GLDX	Global X Gold	Pair Corr
0.34	HGU	BetaPro Canadian Gold	Pair Corr
0.33	XGD	iShares SPTSX Global	Pair Corr
0.32	ZJG	BMO Junior Gold	Pair Corr
0.31	ZGD	BMO Equal Weight	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.55	0.42	-0.51	0.32	-0.34	0.29	-0.23	-0.39	-0.52	META
MSFT	0.55		0.84	-0.57	0.4	-0.08	-0.06	-0.5	-0.84	-0.64	MSFT
UBER	0.42	0.84		-0.57	0.5	0.17	-0.24	-0.51	-0.85	-0.66	UBER
F	-0.51	-0.57	-0.57		-0.65	0.23	0.33	0.59	0.64	0.75	F
T	0.32	0.4	0.5	-0.65		0.25	-0.65	-0.59	-0.39	-0.56	T
A	-0.34	-0.08	0.17	0.23	0.25		-0.5	-0.28	-0.03	-0.02	A
CRM	0.29	-0.06	-0.24	0.33	-0.65	-0.5		0.52	0.22	0.3	CRM
JPM	-0.23	-0.5	-0.51	0.59	-0.59	-0.28	0.52		0.64	0.65	JPM
MRK	-0.39	-0.84	-0.85	0.64	-0.39	-0.03	0.22	0.64		0.77	MRK
XOM	-0.52	-0.64	-0.66	0.75	-0.56	-0.02	0.3	0.65	0.77		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

UBER	+ 0.84	MSFT
XOM	+ 0.77	MRK
XOM	+ 0.75	F
XOM	+ 0.65	JPM
MRK	+ 0.64	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.84	MSFT
XOM	- 0.66	UBER
CRM	- 0.65	T
T	- 0.65	F
XOM	- 0.64	MSFT

Hamilton Technology Competition Risk-Adjusted Indicators

There is a big difference between Hamilton Etf performing well and Hamilton Technology 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 Hamilton Technology'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	1.36	(0.21)	0.00	(0.14)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.91	(0.13)	0.00	1.12	0.00	0.00	1.78	(2.50)	5.08
UBER	1.55	(0.26)	0.00	(0.16)	0.00	0.00	3.34	(3.82)	10.51
F	1.48	0.09	0.07	0.15	1.69	(1.61)	3.38	(2.63)	16.30
T	0.92	(0.16)	0.00	(0.68)	0.00	0.00	1.61	(1.92)	5.75
A	1.15	(0.01)	0.01	0.08	1.30	(1.26)	2.34	(2.22)	6.50
CRM	1.54	0.08	0.03	0.17	1.96	(1.53)	3.66	(2.92)	9.91
JPM	1.08	0.03	0.04	0.11	1.37	(1.14)	2.34	(1.91)	7.02
MRK	1.21	0.24	0.17	0.38	1.10	(1.50)	3.59	(1.98)	8.09
XOM	0.97	0.12	0.04	0.62	1.00	(1.05)	2.10	(1.51)	4.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hamilton Technology 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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