TD Q Correlations

TQCD Etf

CAD 26.64 0.45 1.72%

The current 90-days correlation between TD Q Canadian and TD Q Global is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TD Q moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TD Q Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TD Q Correlation With Market

Almost no diversification

The correlation between TD Q Canadian and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TD Q Canadian and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TD Q 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 Q 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 Q - 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 Q Canadian to buy it.

Moving together with TQCD Etf

0.98	ZWC	BMO Canadian High	Pair Corr
0.75	XDV	iShares Canadian Select	Pair Corr
0.64	PDC	Invesco Canadian Dividend	Pair Corr
0.82	XEI	iShares SPTSX Composite	Pair Corr
0.95	VDY	Vanguard FTSE Canadian	Pair Corr
0.96	DGRC	CI Canada Quality	Pair Corr
0.92	HXH	Global X Canadian	Pair Corr
0.89	HCAL	Hamilton Enhanced	Pair Corr
0.8	HBGD	Global X Big	Pair Corr
0.72	HBGD-U	Global X Big	Pair Corr
0.97	EQL-U	Invesco SP 500	Pair Corr
0.95	AMAX	Hamilton Gold Producer	Pair Corr
0.93	DXBG	Dynamic Global Fixed	Pair Corr
0.9	HXU	BetaPro SP TSX	Pair Corr
0.92	HXX	Global X Europe	Pair Corr
0.63	DXN	Dynamic Active Global	Pair Corr
0.82	ZUD	BMO Dividend Hedged	Pair Corr
0.81	WSHR	Wealthsimple Shariah	Pair Corr
0.73	NXF	First Asset Energy	Pair Corr
0.65	XSTB	iShares ESG Aware	Pair Corr
0.91	MINT-B	Manulife Multifactor	Pair Corr
0.95	ATSX	Accelerate Canadian Long	Pair Corr
0.83	TERM	Manulife Smart Short	Pair Corr
0.96	XEN	iShares Jantzi Social	Pair Corr
0.7	XEG	iShares SPTSX Capped	Pair Corr
0.77	HPF	Harvest Energy Leaders	Pair Corr
0.91	UDIV	Manulife Smart Dividend	Pair Corr
0.72	CTMB	CI Target 2029	Pair Corr

Moving against TQCD Etf

0.46

GDPY-B

Guardian Directed Premium

Pair Corr

Related Correlations Analysis

	FCIQ	HHL	BND	QDX	RIIN	XRE	CDZ	FIE	XEG	TQGD
FCIQ		0.31	0.45	0.6	0.4	0.5	0.4	0.14	0.29	0.62	FCIQ
HHL	0.31		0.36	0.39	0.07	0.45	-0.02	0.34	-0.06	0.43	HHL
BND	0.45	0.36		0.89	0.67	0.77	0.59	0.2	0.76	0.89	BND
QDX	0.6	0.39	0.89		0.72	0.9	0.49	0.09	0.74	0.96	QDX
RIIN	0.4	0.07	0.67	0.72		0.61	0.58	-0.36	0.89	0.8	RIIN
XRE	0.5	0.45	0.77	0.9	0.61		0.3	-0.05	0.65	0.87	XRE
CDZ	0.4	-0.02	0.59	0.49	0.58	0.3		0.35	0.58	0.55	CDZ
FIE	0.14	0.34	0.2	0.09	-0.36	-0.05	0.35		-0.31	0.06	FIE
XEG	0.29	-0.06	0.76	0.74	0.89	0.65	0.58	-0.31		0.77	XEG
TQGD	0.62	0.43	0.89	0.96	0.8	0.87	0.55	0.06	0.77		TQGD
	FCIQ	HHL	BND	QDX	RIIN	XRE	CDZ	FIE	XEG	TQGD

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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

TQGD	+ 0.96	QDX
XRE	+ 0.9	QDX
QDX	+ 0.89	BND
TQGD	+ 0.89	BND
XEG	+ 0.89	RIIN
TQGD	+ 0.87	XRE

High negative correlations

FIE	- 0.36	RIIN
XEG	- 0.31	FIE
XEG	- 0.06	HHL
FIE	- 0.05	XRE
CDZ	- 0.02	HHL

TD Q Constituents Risk-Adjusted Indicators

There is a big difference between TQCD Etf performing well and TD Q 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 Q'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
FCIQ	0.70	(0.05)	0.00	(0.05)	0.00	0.00	1.28	(1.47)	4.25
HHL	0.62	0.01	(0.03)	0.08	0.64	(0.73)	1.63	(1.07)	3.89
BND	0.11	0.00	(0.29)	0.13	0.07	(0.13)	0.22	(0.28)	0.73
QDX	0.61	0.08	0.06	0.24	0.61	(0.67)	1.23	(1.20)	2.83
RIIN	0.42	0.09	0.07	0.85	0.27	(0.50)	0.87	(0.73)	1.97
XRE	0.59	0.04	(0.02)	0.31	0.70	(0.59)	1.10	(1.22)	3.48
CDZ	0.42	0.05	0.01	0.31	0.74	(0.43)	0.92	(0.69)	5.18
FIE	0.44	0.01	(0.05)	0.08	0.71	(0.44)	1.01	(0.82)	4.15
XEG	1.12	0.27	0.15	11.79	1.13	(1.20)	2.53	(1.52)	5.88
TQGD	0.49	0.03	0.00	0.14	0.53	(0.52)	0.98	(1.03)	3.04

Be your own money manager

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