Tech Leaders Correlations

TLF Etf

CAD 28.12 0.18 0.64%

The current 90-days correlation between Tech Leaders Income and Harvest Tech Achievers is 0.93 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tech Leaders moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tech Leaders Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tech Leaders Correlation With Market

Very weak diversification

The correlation between Tech Leaders Income and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tech Leaders Income and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tech Etf

0.93	TXF	First Asset Tech	Pair Corr
0.73	TEC	TD Global Technology	Pair Corr
0.61	HBGD	Global X Big	Pair Corr
0.68	DISC	BMO Global Consumer	Pair Corr

Moving against Tech Etf

0.34

ZWU

BMO Covered Call

Pair Corr

Related Correlations Analysis

	HTAE	BDIV	QQQY	FHI	TLV	RING	FLUS	NVHE	XINC	HXF
HTAE		0.18	0.76	-0.16	-0.04	0.17	0.55	0.45	0.31	0.18	HTAE
BDIV	0.18		0.62	0.75	0.83	-0.56	0.69	0.08	0.43	0.85	BDIV
QQQY	0.76	0.62		0.27	0.35	-0.3	0.76	0.36	0.35	0.54	QQQY
FHI	-0.16	0.75	0.27		0.91	-0.6	0.34	-0.36	0.32	0.78	FHI
TLV	-0.04	0.83	0.35	0.91		-0.71	0.37	-0.29	0.22	0.93	TLV
RING	0.17	-0.56	-0.3	-0.6	-0.71		-0.02	0.43	0.34	-0.77	RING
FLUS	0.55	0.69	0.76	0.34	0.37	-0.02		0.47	0.74	0.43	FLUS
NVHE	0.45	0.08	0.36	-0.36	-0.29	0.43	0.47		0.35	-0.19	NVHE
XINC	0.31	0.43	0.35	0.32	0.22	0.34	0.74	0.35		0.15	XINC
HXF	0.18	0.85	0.54	0.78	0.93	-0.77	0.43	-0.19	0.15		HXF
	HTAE	BDIV	QQQY	FHI	TLV	RING	FLUS	NVHE	XINC	HXF

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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

HXF	+ 0.93	TLV
TLV	+ 0.91	FHI
HXF	+ 0.85	BDIV
TLV	+ 0.83	BDIV
HXF	+ 0.78	FHI
QQQY	+ 0.76	HTAE

High negative correlations

HXF	- 0.77	RING
RING	- 0.71	TLV
RING	- 0.6	FHI
RING	- 0.56	BDIV
NVHE	- 0.36	FHI
RING	- 0.3	QQQY

Tech Leaders Constituents Risk-Adjusted Indicators

There is a big difference between Tech Etf performing well and Tech Leaders 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 Tech Leaders' 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
HTAE	1.03	(0.05)	(0.03)	0.04	1.57	(0.89)	1.93	(2.32)	5.88
BDIV	0.50	0.07	(0.01)	0.61	0.53	(0.55)	1.16	(1.25)	2.96
QQQY	0.91	0.00	(0.01)	0.09	1.25	(0.84)	1.81	(2.31)	6.71
FHI	0.52	0.06	0.00	0.27	0.37	(0.72)	1.55	(0.90)	5.09
TLV	0.26	0.08	0.02	0.55	0.14	(0.31)	0.57	(0.39)	2.54
RING	0.50	(0.04)	0.00	1.24	0.00	0.00	0.95	(1.04)	3.11
FLUS	0.56	0.03	(0.01)	0.13	0.54	(0.65)	1.28	(1.20)	4.03
NVHE	1.74	0.03	0.01	0.12	2.11	(1.81)	4.12	(3.65)	9.99
XINC	0.17	(0.01)	(0.28)	0.06	0.20	(0.19)	0.33	(0.38)	1.09
HXF	0.47	0.16	0.18	0.98	0.00	(0.57)	1.24	(0.84)	2.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tech Leaders 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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