RBC Quant Correlations

Etfs . Canada . 
Etf . RBC Quant Canadian
RCD Etf  CAD 39.00  0.06  0.15%   
The current 90-days correlation between RBC Quant Canadian and RBC Quant Dividend is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RBC Quant moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RBC Quant Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

RBC Quant Correlation With Market

Average diversification

The correlation between RBC Quant Canadian and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RBC Quant Canadian and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to RBC Quant could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RBC Quant 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 RBC Quant - 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 RBC Quant Canadian to buy it.

Moving together with RBC Etf

  0.97ZWC BMO Canadian HighPairCorr
  0.96XDV iShares Canadian SelectPairCorr
  0.97CDZ iShares SPTSX CanadianPairCorr
  0.97PDC Invesco Canadian DividendPairCorr
  0.93XEI iShares SPTSX CompositePairCorr
  0.92VDY Vanguard FTSE CanadianPairCorr
  0.98ZDV BMO Canadian DividendPairCorr
  0.95DGRC CI Canada QualityPairCorr
  0.61CDIV Manulife Smart DividendPairCorr
  0.94HXH Global X CanadianPairCorr
  0.94HGU BetaPro Canadian GoldPairCorr
  0.94HZU BetaPro Silver 2xPairCorr
  0.96ZGD BMO Equal WeightPairCorr
  0.82EQLI Invesco SP 500PairCorr
  0.99HDIV Hamilton Enhanced MultiPairCorr
  0.96FCVH Fidelity Value CurrencyPairCorr
  0.93GLDX Global X GoldPairCorr
  0.92XEH iShares MSCI EuropePairCorr
  0.92TBNK TD Canadian BankPairCorr
  0.64QAH Mackenzie Large CapPairCorr
  0.91FSR First Trust MorningstarPairCorr
  0.86XTR iShares DiversifiedPairCorr
  0.85XEF iShares Core MSCIPairCorr
  0.63WSRD Wealthsimple DevelopedPairCorr
  0.95PID Purpose InternationalPairCorr
  0.8RQO RBC Target 2026PairCorr
  0.61THU TD Equity CADPairCorr
  0.86MBAL Mackenzie BalancedPairCorr
  0.96PFAE Picton Mahoney FortifiedPairCorr

Moving against RBC Etf

  0.6CBCX CI Galaxy BlockchainPairCorr
  0.6EBIT Bitcoin ETF CADPairCorr
  0.6BTCQ 3iQ Bitcoin ETFPairCorr
  0.59FBTC Fidelity AdvantagePairCorr
  0.59ETC Evolve CryptocurrenciesPairCorr
  0.57BTCC Purpose Bitcoin ETFPairCorr

Related Correlations Analysis


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

RID
+ 0.96
XEH
XBM
+ 0.95
XEH
RID
+ 0.94
XBM
XEH
+ 0.92
RUD
RID
+ 0.92
FCCD
BKCC
+ 0.9
FCCD
  

High negative correlations

XUT
- 0.86
BKCC
XUT
- 0.65
FCCD
RID
- 0.6
XUT
XUT
- 0.55
XBM
XUT
- 0.52
XEH
XUT
- 0.49
RUDH

RBC Quant Constituents Risk-Adjusted Indicators

There is a big difference between RBC Etf performing well and RBC Quant 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 RBC Quant'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RUD  0.50  0.05 (0.04) 0.33  0.47 
(0.57)
 1.09 
(0.93)
 2.79 
RUDH  0.55 (0.03)(0.07) 0.02  0.94 
(0.61)
 1.24 
(1.02)
 6.19 
FCCD  0.40  0.10  0.01 (5.84) 0.46 
(0.40)
 0.79 
(0.90)
 2.35 
XEH  0.43  0.07  0.01  0.37  0.48 
(0.44)
 0.91 
(0.97)
 2.97 
XBM  1.57  0.24  0.11  0.48  1.70 
(1.78)
 3.10 
(3.25)
 7.79 
BKCC  0.37  0.11  0.08  0.78  0.03 
(0.42)
 0.82 
(0.76)
 2.21 
XCNS  0.27 (0.01)(0.18) 0.05  0.38 
(0.27)
 0.55 
(0.70)
 1.68 
XUT  0.32 (0.03) 0.00  1.11  0.00 
 0.00 
 0.56 
(0.70)
 2.33 
XDSR  0.58  0.01 (0.07) 0.12  0.71 
(0.56)
 1.11 
(1.01)
 2.93 
RID  0.53  0.12  0.07  0.56  0.53 
(0.59)
 1.30 
(0.92)
 4.37 

Be your own money manager

Our tools can tell you how much better you can do entering a position in RBC Quant 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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