Hamilton Technology Correlations

QMAX Etf

19.59 0.11 0.56%

The current 90-days correlation between Hamilton Technology Yield and First Asset Morningstar is 0.29 (i.e., Modest 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

Excellent diversification

The correlation between Hamilton Technology Yield and DJI is -0.65 (i.e., Excellent 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

0.97	XIT	iShares SPTSX Capped	Pair Corr
0.64	HMMJ	Global X Marijuana	Pair Corr
0.96	TEC	TD Global Technology	Pair Corr
0.85	CYBR	Evolve Cyber Security	Pair Corr

Moving against Hamilton Etf

0.95	COW	iShares Global Agric	Pair Corr
0.91	ZWU	BMO Covered Call	Pair Corr
0.85	CWW	iShares Global Water	Pair Corr
0.82	ZUT	BMO Equal Weight	Pair Corr
0.78	XST	iShares SPTSX Capped	Pair Corr
0.78	HBU	BetaPro Gold Bullion	Pair Corr
0.77	ZGD	BMO Equal Weight	Pair Corr
0.77	ZJG	BMO Junior Gold	Pair Corr
0.77	HGGG	Harvest Global Gold	Pair Corr
0.74	GLDX	Global X Gold	Pair Corr
0.66	HGU	BetaPro Canadian Gold	Pair Corr
0.97	CYH	iShares Global Monthly	Pair Corr
0.95	XDG	iShares Core MSCI	Pair Corr
0.94	HXH	Global X Canadian	Pair Corr
0.93	RID	RBC Quant EAFE	Pair Corr
0.93	HXE	Global X SPTSX	Pair Corr
0.91	VSC	Vanguard Canadian Short	Pair Corr
0.88	QDX	Mackenzie International	Pair Corr
0.84	XSMH	iShares SP Small	Pair Corr
0.81	TGFI	TD Active Global	Pair Corr
0.78	XMM	iShares MSCI Min	Pair Corr
0.77	XDV	iShares Canadian Select	Pair Corr
0.75	XGD	iShares SPTSX Global	Pair Corr
0.75	ZSML	BMO SP Small	Pair Corr
0.72	XSI	iShares Short Term	Pair Corr
0.55	HURA	Global X Uranium	Pair Corr
0.46	SVR	iShares Silver Bullion	Pair Corr
0.42	SBT	Silver Bullion Trust	Pair Corr
0.93	XEG	iShares SPTSX Capped	Pair Corr
0.91	PINC	Purpose Multi Asset	Pair Corr
0.89	VCB	Vanguard Canadian	Pair Corr
0.85	XDIV	iShares Core MSCI	Pair Corr
0.83	XSEM	iShares ESG Aware	Pair Corr
0.83	GBUL	Ninepoint Gold Bullion	Pair Corr

Related Correlations Analysis

	XMA	XMV	EMAX	AMAX	ZFN	XSEA	QBTL	VRIF	VXM
XMA		0.9	0.77	0.99	0.25	0.91	-0.66	0.92	0.9	XMA
XMV	0.9		0.79	0.89	0.12	0.89	-0.62	0.92	0.92	XMV
EMAX	0.77	0.79		0.72	-0.16	0.87	-0.41	0.88	0.89	EMAX
AMAX	0.99	0.89	0.72		0.3	0.87	-0.66	0.89	0.85	AMAX
ZFN	0.25	0.12	-0.16	0.3		0.18	-0.54	0.16	0.03	ZFN
XSEA	0.91	0.89	0.87	0.87	0.18		-0.66	0.98	0.97	XSEA
QBTL	-0.66	-0.62	-0.41	-0.66	-0.54	-0.66		-0.61	-0.61	QBTL
VRIF	0.92	0.92	0.88	0.89	0.16	0.98	-0.61		0.96	VRIF
VXM	0.9	0.92	0.89	0.85	0.03	0.97	-0.61	0.96		VXM
	XMA	XMV	EMAX	AMAX	ZFN	XSEA	QBTL	VRIF	VXM

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

AMAX	+ 0.99	XMA
VRIF	+ 0.98	XSEA
VXM	+ 0.97	XSEA
VXM	+ 0.96	VRIF
VRIF	+ 0.92	XMA
VRIF	+ 0.92	XMV

High negative correlations

QBTL	- 0.66	XSEA
QBTL	- 0.66	AMAX
QBTL	- 0.66	XMA
QBTL	- 0.62	XMV
VXM	- 0.61	QBTL
VRIF	- 0.61	QBTL

Hamilton Technology Constituents 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
XMA	1.73	0.51	0.15	0.63	2.58	(1.78)	3.86	(2.95)	14.05
XMV	0.39	0.09	0.07	0.42	0.32	(0.44)	0.92	(0.74)	2.54
EMAX	0.92	0.24	0.16	3.72	0.80	(1.06)	2.29	(1.23)	4.83
AMAX	1.81	0.43	0.14	0.48	2.76	(1.97)	4.26	(3.98)	15.28
ZFN	0.77	(0.04)	(0.05)	0.02	0.97	(0.80)	1.74	(1.90)	5.20
XSEA	0.48	0.08	0.07	0.25	0.42	(0.54)	1.25	(1.05)	3.06
QBTL	0.88	(0.03)	0.00	0.10	0.00	0.00	2.27	(1.71)	6.53
VRIF	0.19	0.02	(0.14)	0.15	0.16	(0.21)	0.41	(0.34)	1.28
VXM	0.53	0.20	0.27	0.56	0.04	(0.65)	1.21	(0.84)	3.33

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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