RBC Quant Correlations

RPD Etf

CAD 34.48 0.45 1.32%

The current 90-days correlation between RBC Quant European and Brompton European Dividend is 0.43 (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 European 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 European and DJI is 0.42 (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 European 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 European to buy it.

Moving together with RBC Etf

0.73	ZWP	BMO Europe High	Pair Corr
0.87	ZWE	BMO Europe High	Pair Corr
0.77	XEU	iShares MSCI Europe	Pair Corr
0.79	VE	Vanguard FTSE Developed	Pair Corr
0.87	XEH	iShares MSCI Europe	Pair Corr
0.66	HXX	Global X Europe	Pair Corr
0.72	EHE	CI Europe Hedged	Pair Corr
0.97	RPDH	RBC Quant European	Pair Corr
0.81	ZUB	BMO Equal Weight	Pair Corr
0.83	ZBK	BMO Equal Weight	Pair Corr
0.83	CALL	Evolve Banks Enhanced	Pair Corr
0.87	ZWK	BMO Covered Call	Pair Corr

Moving against RBC Etf

0.75	CBCX	CI Galaxy Blockchain	Pair Corr
0.74	HBLK	Blockchain Technologies	Pair Corr
0.59	CARS-B	Evolve Automobile	Pair Corr
0.58	CARS	Evolve Automobile	Pair Corr
0.36	HBGD	Global X Big	Pair Corr

Related Correlations Analysis

	EDGF	QDXH	RPDH	XML	HCON	FCRR	HBGD	NRGU	INOC	DRMD
EDGF		0.18	0.3	0.12	0.06	-0.27	0.27	-0.29	0.19	0.47	EDGF
QDXH	0.18		0.86	0.84	0.39	0.15	-0.05	0.37	0.77	0.66	QDXH
RPDH	0.3	0.86		0.89	0.28	0.1	-0.34	0.54	0.92	0.65	RPDH
XML	0.12	0.84	0.89		0.45	0.22	-0.3	0.57	0.78	0.71	XML
HCON	0.06	0.39	0.28	0.45		0.44	0.38	0.06	0.2	0.68	HCON
FCRR	-0.27	0.15	0.1	0.22	0.44		0.09	0.28	0.11	0.23	FCRR
HBGD	0.27	-0.05	-0.34	-0.3	0.38	0.09		-0.56	-0.45	0.21	HBGD
NRGU	-0.29	0.37	0.54	0.57	0.06	0.28	-0.56		0.59	0.12	NRGU
INOC	0.19	0.77	0.92	0.78	0.2	0.11	-0.45	0.59		0.5	INOC
DRMD	0.47	0.66	0.65	0.71	0.68	0.23	0.21	0.12	0.5		DRMD
	EDGF	QDXH	RPDH	XML	HCON	FCRR	HBGD	NRGU	INOC	DRMD

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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

INOC	+ 0.92	RPDH
XML	+ 0.89	RPDH
RPDH	+ 0.86	QDXH
XML	+ 0.84	QDXH
INOC	+ 0.78	XML
INOC	+ 0.77	QDXH

High negative correlations

NRGU	- 0.56	HBGD
INOC	- 0.45	HBGD
HBGD	- 0.34	RPDH
HBGD	- 0.3	XML
NRGU	- 0.29	EDGF
FCRR	- 0.27	EDGF

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
EDGF	0.49	0.01	(0.03)	0.07	0.57	(0.60)	1.14	(1.05)	3.59
QDXH	0.35	0.10	0.05	(5.38)	0.12	(0.65)	1.03	(0.85)	4.79
RPDH	0.46	0.13	0.15	0.67	0.19	(0.60)	1.41	(0.62)	3.60
XML	0.36	0.05	0.02	0.32	0.34	(0.44)	1.20	(0.95)	2.39
HCON	0.27	0.00	(0.12)	0.06	0.28	(0.35)	0.68	(0.54)	1.77
FCRR	0.54	(0.05)	0.00	(0.07)	0.00	0.00	1.09	(1.23)	6.88
HBGD	2.08	0.13	0.05	0.18	2.41	(2.27)	4.87	(4.00)	13.24
NRGU	1.80	0.17	0.04	(2.33)	2.41	(1.87)	3.63	(3.20)	12.09
INOC	0.59	0.10	0.05	1.17	0.71	(0.61)	1.55	(1.29)	5.74
DRMD	0.58	0.05	0.00	0.26	0.69	(0.63)	1.36	(1.09)	3.44

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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