TD Active Correlations

Etfs . Canada . 
Etf . TD Active Preferred
TPRF Etf  CAD 12.65  0.01  0.08%   
The current 90-days correlation between TD Active Preferred and iShares ESG Advanced is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Active Preferred moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TD Active Correlation With Market

Almost no diversification

The correlation between TD Active Preferred and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Active Preferred and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TD Active could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TD Active 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 TD Active - 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 TD Active Preferred to buy it.

Moving together with TPRF Etf

  0.99ZPR BMO Laddered PreferredPairCorr
  0.99HPR Global X ActivePairCorr
  0.98CPD iShares SPTSX CanadianPairCorr
  0.99RPF RBC Canadian PreferredPairCorr
  0.98DXP Dynamic Active PreferredPairCorr
  0.93DIVS Evolve Active CanadianPairCorr
  0.96XPF iShares SPTSX NorthPairCorr
  0.92PR Lysander Slater PrefPairCorr
  0.95HFP Global X ActivePairCorr
  0.91FPR CI Preferred SharePairCorr
  0.79HGU BetaPro Canadian GoldPairCorr
  0.83HGGG Harvest Global GoldPairCorr
  0.83GLDX Global X GoldPairCorr
  0.85ZGD BMO Equal WeightPairCorr
  0.84ZJG BMO Junior GoldPairCorr
  0.72HBU BetaPro Gold BullionPairCorr
  0.77SVR iShares Silver BullionPairCorr
  0.83XGD iShares SPTSX GlobalPairCorr
  0.77SBT Silver Bullion TrustPairCorr
  0.9HXX Global X EuropePairCorr
  0.82PFCO PICTON Credit OpportPairCorr
  0.69ZUD BMO Dividend HedgedPairCorr
  0.81MINT-B Manulife MultifactorPairCorr
  0.86HAC Global X SeasonalPairCorr
  0.92BANK Evolve Canadian BanksPairCorr
  0.9XEN iShares Jantzi SocialPairCorr
  0.64XDUH iShares Core MSCIPairCorr
  0.67FLUS Franklin Large CapPairCorr
  0.83NHYB NBI High YieldPairCorr
  0.84CGXF CI Gold GiantsPairCorr
  0.65WSHR Wealthsimple ShariahPairCorr
  0.83AMAX Hamilton Gold ProducerPairCorr
  0.87ATSX Accelerate Canadian LongPairCorr
  0.78UDIV Manulife Smart DividendPairCorr
  0.89ZDM BMO MSCI EAFEPairCorr

Related Correlations Analysis


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

AMAX
+ 0.98
XMD
XMD
+ 0.94
XMH
AMAX
+ 0.89
XMH
XMD
+ 0.87
EGIF
FLSD
+ 0.86
HUTL
EGIF
+ 0.85
HUTL
  

High negative correlations

XUSR
- 0.44
HUTL
XUSR
- 0.37
EGIF
AMAX
- 0.3
XTR
XMU
- 0.29
EGIF
XMD
- 0.28
XMU
XTR
- 0.27
XMD

TD Active Constituents Risk-Adjusted Indicators

There is a big difference between TPRF Etf performing well and TD Active 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 TD Active'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HUTL  0.48  0.14  0.14  1.21  0.36 
(0.53)
 1.05 
(0.87)
 2.33 
EGIF  0.26  0.13  0.00  1.47  0.00 
 0.00 
 0.28 
 0.00 
 6.38 
XMH  0.72  0.13  0.13  0.25  0.60 
(0.84)
 1.75 
(1.40)
 4.79 
XMU  0.41 (0.03) 0.00 (0.06) 0.00 
 0.00 
 0.93 
(0.79)
 2.53 
XMD  0.99  0.22  0.11  0.34  1.56 
(1.02)
 2.29 
(2.61)
 7.81 
XTR  0.26 (0.01)(0.07) 0.02  0.63 
(0.24)
 0.50 
(0.58)
 3.65 
AMAX  1.87  0.33  0.11  0.32  2.93 
(1.93)
 4.49 
(3.95)
 16.30 
XUSR  0.82 (0.07) 0.00 (0.03) 0.00 
 0.00 
 1.71 
(2.09)
 4.56 
FLSD  0.09  0.00 (0.32) 0.12  0.00 
(0.11)
 0.21 
(0.21)
 0.62 
XCSR  0.73  0.03  0.01  0.10  1.01 
(0.76)
 1.57 
(1.57)
 5.03 

Be your own money manager

Our tools can tell you how much better you can do entering a position in TD Active 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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