Ninepoint Web3 Correlations

TKN Etf

28.72 0.49 1.68%

The current 90-days correlation between Ninepoint Web3 Innovators and Ninepoint Bitcoin ETF is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ninepoint Web3 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Web3 Innovators moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ninepoint Web3 Correlation With Market

Weak diversification

The correlation between Ninepoint Web3 Innovators and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ninepoint Web3 Innovators and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Ninepoint Web3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ninepoint Web3 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 Ninepoint Web3 - 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 Ninepoint Web3 Innovators to buy it.

Moving together with Ninepoint Etf

0.68

HUC

Global X Crude

Pair Corr

Moving against Ninepoint Etf

0.65	FLI	CI Canada Lifeco	Pair Corr
0.56	TBNK	TD Canadian Bank	Pair Corr
0.41	FLSA	Fidelity LongShort	Pair Corr
0.35	HUN	Global X Natural	Pair Corr
0.34	HDIV	Hamilton Enhanced Multi	Pair Corr
0.32	PFLS	Picton Mahoney Fortified	Pair Corr
0.94	BITI	BetaPro Inverse Bitcoin	Pair Corr
0.63	RQO	RBC Target 2026	Pair Corr
0.61	CALL-B	Evolve Banks Enhanced	Pair Corr
0.58	FSR	First Trust Morningstar	Pair Corr
0.56	VVSG	Vanguard Canadian Ultra	Pair Corr
0.54	GLDX	Global X Gold	Pair Corr
0.53	BNC	Purpose Canadian Fin	Pair Corr
0.51	FLCD	Franklin FTSE Canada	Pair Corr
0.43	PXC	Invesco RAFI Canadian	Pair Corr
0.41	ZWS	BMO High Dividend	Pair Corr
0.36	RCD	RBC Quant Canadian	Pair Corr

Related Correlations Analysis

	BITC-U	SHHI	RYHI	SLVE	BCHI	NNRG	ABHI	CQHI	BITC
BITC-U		-0.05	-0.79	0.0	0.1	-0.68	-0.76	-0.44	0.91	BITC-U
SHHI	-0.05		0.29	0.0	0.03	-0.35	0.07	-0.43	0.06	SHHI
RYHI	-0.79	0.29		0.0	0.11	0.42	0.91	0.29	-0.78	RYHI
SLVE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SLVE
BCHI	0.1	0.03	0.11	0.0		-0.26	0.2	-0.16	0.08	BCHI
NNRG	-0.68	-0.35	0.42	0.0	-0.26		0.48	0.86	-0.72	NNRG
ABHI	-0.76	0.07	0.91	0.0	0.2	0.48		0.4	-0.78	ABHI
CQHI	-0.44	-0.43	0.29	0.0	-0.16	0.86	0.4		-0.52	CQHI
BITC	0.91	0.06	-0.78	0.0	0.08	-0.72	-0.78	-0.52		BITC
	BITC-U	SHHI	RYHI	SLVE	BCHI	NNRG	ABHI	CQHI	BITC

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

BITC	+ 0.91	BITC-U
ABHI	+ 0.91	RYHI
CQHI	+ 0.86	NNRG
ABHI	+ 0.48	NNRG
NNRG	+ 0.42	RYHI
CQHI	+ 0.4	ABHI

High negative correlations

RYHI	- 0.79	BITC-U
BITC	- 0.78	ABHI
BITC	- 0.78	RYHI
ABHI	- 0.76	BITC-U
BITC	- 0.72	NNRG
NNRG	- 0.68	BITC-U

Ninepoint Web3 Constituents Risk-Adjusted Indicators

There is a big difference between Ninepoint Etf performing well and Ninepoint Web3 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 Ninepoint Web3'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
BITC-U	1.15	(0.15)	0.00	(0.37)	0.00	0.00	2.81	(3.52)	17.20
SHHI	2.31	(0.13)	0.00	0.04	3.15	(2.43)	5.47	(6.55)	14.38
RYHI	0.63	0.23	0.14	3.57	0.55	(0.71)	1.68	(1.43)	3.96
SLVE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BCHI	1.03	0.09	(0.03)	(0.13)	1.12	(1.20)	2.53	(1.93)	6.72
NNRG	1.01	0.12	0.03	1.62	1.24	(1.07)	2.02	(1.91)	6.31
ABHI	1.98	0.60	0.17	2.64	2.55	(2.27)	5.82	(3.37)	14.59
CQHI	1.45	0.17	0.03	(0.63)	1.73	(1.52)	3.04	(2.94)	8.07
BITC	1.77	(0.24)	0.00	(1.76)	0.00	0.00	3.70	(4.63)	11.19

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ninepoint Web3 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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