Purpose Strategic Correlations

SYLD Etf

CAD 19.94 0.06 0.30%

The current 90-days correlation between Purpose Strategic Yield and Harvest Tech Achievers is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purpose Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purpose Strategic Yield moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purpose Strategic Correlation With Market

Poor diversification

The correlation between Purpose Strategic Yield and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purpose Strategic Yield and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Purpose Etf

0.64	NHYB	NBI High Yield	Pair Corr
0.72	ZHY	BMO High Yield	Pair Corr
0.77	DXO	Dynamic Active Crossover	Pair Corr
0.69	TUHY	TD Active High	Pair Corr
0.77	HGU	BetaPro Canadian Gold	Pair Corr
0.77	ZGD	BMO Equal Weight	Pair Corr
0.77	ZJG	BMO Junior Gold	Pair Corr
0.79	XGD	iShares SPTSX Global	Pair Corr
0.74	HZU	BetaPro Silver 2x	Pair Corr
0.74	HEP	Global X Enhanced	Pair Corr
0.85	XBM	iShares SPTSX Global	Pair Corr
0.64	HSU	BetaPro SP 500	Pair Corr

Moving against Purpose Etf

0.34

CXF

CI Canadian Convertible

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.43	0.44	-0.01	-0.57	0.03	0.31	0.43	0.45	META
MSFT	-0.41		0.72	-0.56	-0.09	0.49	0.62	0.04	-0.8	-0.83	MSFT
UBER	-0.43	0.72		-0.49	0.12	0.59	0.23	-0.16	-0.8	-0.59	UBER
F	0.44	-0.56	-0.49		-0.39	-0.33	-0.1	0.38	0.71	0.65	F
T	-0.01	-0.09	0.12	-0.39		0.27	-0.38	-0.15	-0.12	-0.09	T
A	-0.57	0.49	0.59	-0.33	0.27		0.12	-0.06	-0.41	-0.62	A
CRM	0.03	0.62	0.23	-0.1	-0.38	0.12		0.59	-0.29	-0.64	CRM
JPM	0.31	0.04	-0.16	0.38	-0.15	-0.06	0.59		0.25	-0.11	JPM
MRK	0.43	-0.8	-0.8	0.71	-0.12	-0.41	-0.29	0.25		0.72	MRK
XOM	0.45	-0.83	-0.59	0.65	-0.09	-0.62	-0.64	-0.11	0.72		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	+ 0.72	MSFT
XOM	+ 0.72	MRK
MRK	+ 0.71	F
XOM	+ 0.65	F
CRM	+ 0.62	MSFT
A	+ 0.59	UBER

High negative correlations

XOM	- 0.83	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.64	CRM
XOM	- 0.62	A
XOM	- 0.59	UBER

Purpose Strategic Constituents Risk-Adjusted Indicators

There is a big difference between Purpose Etf performing well and Purpose Strategic 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 Purpose Strategic'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	1.55	(0.03)	(0.02)	0.02	1.62	(1.79)	3.43	(2.72)	13.36
MSFT	1.23	(0.36)	0.00	(1.95)	0.00	0.00	1.78	(2.70)	13.28
UBER	1.57	(0.43)	0.00	(0.52)	0.00	0.00	2.46	(5.06)	10.23
F	1.22	0.04	0.04	0.10	1.20	(1.45)	3.38	(2.35)	7.16
T	0.95	0.11	0.06	0.72	0.94	(1.05)	2.02	(1.76)	4.31
A	1.22	(0.18)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.64	(0.42)	0.00	(0.32)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.12	(0.03)	0.00	0.03	1.63	(1.14)	2.18	(3.11)	7.38
MRK	1.32	0.46	0.31	0.65	1.07	(1.63)	3.59	(1.98)	8.09
XOM	1.15	0.00	0.27	0.00	0.92	(1.37)	2.69	(2.11)	5.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Purpose Strategic 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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