RBC Quant Correlations

RCD Etf

CAD 38.13 0.19 0.50%

The current 90-days correlation between RBC Quant Canadian and RBC Quant Dividend is 0.58 (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

Very weak diversification

The correlation between RBC Quant Canadian and DJI is 0.41 (i.e., Very weak 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

0.96	ZWC	BMO Canadian High	Pair Corr
0.96	XDV	iShares Canadian Select	Pair Corr
0.93	CDZ	iShares SPTSX Canadian	Pair Corr
0.96	PDC	Invesco Canadian Dividend	Pair Corr
0.92	XEI	iShares SPTSX Composite	Pair Corr
0.94	VDY	Vanguard FTSE Canadian	Pair Corr
0.98	ZDV	BMO Canadian Dividend	Pair Corr
0.94	DGRC	CI Canada Quality	Pair Corr
0.76	CDIV	Manulife Smart Dividend	Pair Corr
0.92	HXH	Global X Canadian	Pair Corr
0.87	HGU	BetaPro Canadian Gold	Pair Corr
0.92	HZU	BetaPro Silver 2x	Pair Corr
0.91	ZGD	BMO Equal Weight	Pair Corr
0.92	GLDX	Global X Gold	Pair Corr
0.92	HGGG	Harvest Global Gold	Pair Corr
0.87	ZJG	BMO Junior Gold	Pair Corr
0.95	SVR	iShares Silver Bullion	Pair Corr
0.91	XGD	iShares SPTSX Global	Pair Corr
0.95	HUZ	Global X Silver	Pair Corr
0.84	HEP	Global X Enhanced	Pair Corr

Related Correlations Analysis

	RUD	RUDH	FCCD	XEH	XBM	BKCC	XCNS	XUT	XDSR	RID
RUD		0.71	0.54	0.83	0.65	0.67	0.61	-0.36	0.48	0.77	RUD
RUDH	0.71		0.4	0.56	0.46	0.55	0.45	-0.51	0.26	0.5	RUDH
FCCD	0.54	0.4		0.72	0.77	0.87	0.13	-0.67	-0.19	0.85	FCCD
XEH	0.83	0.56	0.72		0.86	0.82	0.32	-0.46	0.34	0.9	XEH
XBM	0.65	0.46	0.77	0.86		0.77	0.15	-0.55	0.22	0.81	XBM
BKCC	0.67	0.55	0.87	0.82	0.77		0.18	-0.67	-0.16	0.93	BKCC
XCNS	0.61	0.45	0.13	0.32	0.15	0.18		0.28	0.53	0.35	XCNS
XUT	-0.36	-0.51	-0.67	-0.46	-0.55	-0.67	0.28		0.33	-0.53	XUT
XDSR	0.48	0.26	-0.19	0.34	0.22	-0.16	0.53	0.33		0.08	XDSR
RID	0.77	0.5	0.85	0.9	0.81	0.93	0.35	-0.53	0.08		RID
	RUD	RUDH	FCCD	XEH	XBM	BKCC	XCNS	XUT	XDSR	RID

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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

RID	+ 0.93	BKCC
RID	+ 0.9	XEH
BKCC	+ 0.87	FCCD
XBM	+ 0.86	XEH
RID	+ 0.85	FCCD
XEH	+ 0.83	RUD

High negative correlations

XUT	- 0.67	BKCC
XUT	- 0.67	FCCD
XUT	- 0.55	XBM
RID	- 0.53	XUT
XUT	- 0.51	RUDH
XUT	- 0.46	XEH

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RUD	0.55	0.00	(0.06)	0.08	0.70	(0.58)	1.19	(1.01)	3.54
RUDH	0.60	(0.05)	0.00	(0.02)	0.00	0.00	1.24	(1.29)	6.19
FCCD	0.41	0.04	(0.05)	0.23	0.49	(0.40)	0.75	(0.90)	2.35
XEH	0.46	0.05	0.00	0.22	0.50	(0.49)	0.98	(0.97)	2.97
XBM	1.60	0.29	0.15	0.37	1.69	(1.75)	3.41	(3.25)	10.91
BKCC	0.40	0.11	0.10	0.49	0.14	(0.46)	0.89	(0.83)	2.21
XCNS	0.30	(0.01)	(0.17)	0.03	0.40	(0.30)	0.59	(0.74)	1.92
XUT	0.36	(0.01)	(0.16)	0.05	0.47	(0.35)	0.74	(0.70)	2.33
XDSR	0.62	(0.01)	(0.06)	0.07	0.79	(0.62)	1.11	(1.18)	3.52
RID	0.58	0.08	0.04	0.24	0.63	(0.63)	1.31	(1.03)	4.39

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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